19 December 2016

Auditor’s involvement regarding the ex-ante contributions to the Single Resolution Fund

With this information paper we aim to raise awareness of the auditor’s involvement regarding the Single Resolution Board’s (SRB) responsibility for the calculation of ex-ante contributions to the Single Resolution Fund (SRF). The SRF has been established to finance the restructuring of failing financial institutions.
The National Resolution Authorities (NRAs) are responsible for the collection of the data and raising ex-ante contributions from the concerned financial institutions. The NRAs are also the first point of contact for financial institutions in case of need of any clarification. The deadline for financial institutions to submit data to the SRB is 31 January.
In order to get some additional comfort on some of the data received from the financial institutions, the SRB asks financial institutions to provide either a management sign-off or an Agreed upon Procedures (AuPs) Factual Findings report (see Appendix for the templates). The NRAs have a certain level of discretion; therefore, the templates might differ per jurisdiction.

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