This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide guidance to the Appointed Auditor of a general insurer and the Group Auditor of a Level 2 insurance group^[1] in reporting, pursuant to the prudential reporting requirements specified by the Australian Prudential Regulation Authority (APRA) in Prudential Standard GPS 310 Audit and Related Matters.

APRA Prudential Standard GPS 310 Audit and Related Matters applies to general insurers and insurance groups from 1 January 2013.