This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide guidance to the auditor of a life company^[1] in reporting, pursuant to the prudential reporting requirements specified by the Australian Prudential Regulations Authority (APRA) in Prudential Standard LPS 310 Audit and Related Matters (January 2013) (LPS 310).

LPS 310 applies to Life Companies from 1 January 2013.