National Treasury Publishes Draft Financial Matters and Audit Service Levy Bills

Posted 14 November 2026 Written by Acts Online
Category Financial Sector

Brought to you by SA Legal Academy: National Treasury has published a gazetted notice calling for public comment on two draft pieces of legislation, namely the draft Financial Matters Amendment Bill and the draft Audit Service Levy Bill.

Published on Friday 13 November 2026, the gazette invites interested persons and stakeholders to submit written submissions on both draft Bills via the National Treasury portal. The statutory public comment window closes on 31 January 2027.

Scope of the Proposed Legislation

According to the respective memorandums on the objects of the draft legislation, the Bills introduce key institutional and funding measures across the financial regulatory landscape:

  • Draft Financial Matters Amendment Bill: Focuses on substantive amendments to financial sector regulatory legislation, refining existing governance provisions, administrative processes, and supervisory mandates across regulatory authorities.
  • Draft Audit Service Levy Bill: Proposes the imposition and recovery of a dedicated statutory levy on audit services to secure direct funding for public regulatory oversight and enforcement within the auditing profession.

What this means for you, your business, or your clients

  • For yourself: Registered auditors and compliance professionals must review the draft Audit Service Levy Bill to determine potential professional liability and statutory reporting obligations.
  • For your business: Audit firms and accounting practices must evaluate the financial impact of the proposed audit service levy on firm overheads and submit comments to National Treasury prior to 31 January 2027.
  • For your clients: Corporate clients subject to mandatory statutory audits should anticipate potential fee restructuring as audit firms incorporate the proposed regulatory levy into their cost structures.

Originally published at https://legalacademy.co.za/news/read/financial-sector-two-draft-bills-out-for-comment-one-proposing-audit-service-levy

The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.