As many of our members are aware, not all Irish banks are processing Auditor Bank Confirmation Letters in the format previously used.
Some of the banks have centralised their processing (or are in the process of doing so) and they require the account number or branch name to help speed up their processing.
To facilitate faster processing and ensuring that the Banks do not reject the letters we suggest that auditors include the account number and branch sort code.
We understand that the banks want one account number and sort code only, as well as client name and address. Once this is provided they undertake to supply details of all accounts held by that client. The account number is for ease of identification only.
The banks are aware that there are some letters already submitted that do not contain account numbers. We have requested, through the IBF, that the banks process these letters. However, they may return bank letters to auditors seeking the additional information.
The bank letter is usually signed by the authorised account signatories. AIB uniquely are seeking that the bank letter is signed by directors/secretary of the company. These may not be the authorised account signatories. If your client holds accounts with AIB please be aware of this when you are completing the bank letters. [update: AIB are now accepting authorised account signatories similar to the other banks]