Confirmation.community | Citibank South Africa Audit Confirmation Instructions

  Citibank South Africa Audit Confirmation Instructions

Published:  08/30/2015


The below guide highlights Citibank South Africa's specific instructions on accepted form types and how to setup the different form types for relevant bank accounts.
 

Citibank South Africa Accounts

 
Account NameAccount DigitsAccount Structure
CurrentConsists of 10 digits0XX XXXX XXX (Starts with 0)
Call DepositConsists of 10 digits8XX XXXX XXX (Starts with 8)
CFCConsists of 10 digits0XX XXXX XXX (Starts with 0)

  Instructions:


Citibank​ South Africa Form Setup Instructions


Depending on how information can be extracted from the bank systems, a form can be set up in 2 ways:
 
  • Individual account basis
    The bank can only extract form details on an individual account basis. Auditors will therefore need to set up each account number as a separate form of the form type.
  • Entity wide basis
    The bank can extract form details on an entity wide basis. Auditors can therefore send a single form of the form type using a main account number. As information is supplied on an entity wide basis all other account numbers do NOT need to be supplied.
 
Form
Type
Form
Description
Setup
Instructions
       Accepted
       Accounts
ZA -
Asset
Provides information on balances, Interest, collateral/security/facilities. 

Note: The bank will provide overdraft information on the ZA - Asset form. 
 
An asset account is typically a current; cheque; deposit; saving; or investment etc.
Individual account basis 

A separate ZA-Asset form needs to be set up per account number.
  • Current
  • Call deposit
  • CFC
 Click here for a detailed explanation of the ZA - Asset Form 
ZA -
Liability
Provides information on balances, Interest, borrowing agreements, covenant details, collateral/security/facilities.

Note: The bank will provide overdraft information on the ZA - Asset form. Only send a ZA - Asset form and not a ZA - Liability form for an account number that has an overdraft attached.

A liability account is typically loans; advances etc.
Individual account basis 

A separate ZA-Liability form needs to be set up per account number.
 
  • Current
 Click here for a detailed explanation of the ZA - Liability Form 
EMEA -
Consolidated
The Consolidated form asks the responder, and participating departments, to perform a search of ALL client data. This form does not guarantee all client data will be retrieved, but asks the responder to use best efforts based on the data available to them.Entity wide basis

Only need to setup one form, with a main account number
  • Current
  • Call deposit
  • CFC
 Click here for a detailed explanation of the EMEA - Consolidated form


 
 
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