Tripartite Relationship


APRA’s liaison with the RSE auditor is normally conducted under tripartite arrangements involving APRA, the RSE licensee and its auditor(s) (see SPS 310).


Any one of the parties involved in the tripartite relationship may initiate meetings or discussions at any time, when considered necessary.


Notwithstanding the tripartite relationship, APRA and the RSE auditor may meet, at any time, on a bilateral basis at the request of either party. APRA may communicate with the RSE auditor on a bilateral basis to obtain or discuss information for whatever reason(s) it considers appropriate.


Under SPS 510 Governance, the RSE licensee is required to ensure that its internal policy and contractual arrangements do not explicitly or implicitly restrict or discourage auditors (or other parties) from communicating with APRA.


Under section 130A of the SIS Act, the RSE auditor may give to APRA information about the entity or a trustee of the entity obtained in the course of, or in connection with the performance of the audit, if the RSE auditor considers that giving the information will assist APRA in performing its functions under the SIS Act, regulations, prudential standards or FSCOD Act.