417 definitions found.
GS 004
Definition
9(e)
Level 2 insurance group (insurance group), under Prudential Standard GPS 001 Definitions [3] is: where there is no authorised NOHC and an insurer has controlled entities, the consolidation of the insurer and its controlled entities; or where there is an …
GS 004
Definition
9(f)
Parent Entity of a Level 2 insurance group, under GPS 310 is: where the Level 2 insurance group is headed by an authorised NOHC, the authorised NOHC; and where the Level 2 insurance group is headed by an insurer, the insurer. APRA may, in writing, …
GS 004
Definition
9(g)
Yearly Statutory Accounts, in relation to a body corporate, means the reporting documents [4] that the body corporate is required to lodge with APRA in respect of a financial year, under section 13 of the Financial Sector (Collection of Data) …
GS 017
Definition
17(d)
Internal control [7] encompasses the following components: the control environment; the life company’s risk assessment process; information systems, including the related business processes, relevant to financial and prudential reporting, and …
GS 017
Definition
17(e)
Life company means all life companies (including friendly societies) registered under section 21 of the Life Act . …
GS 017
Definition
17(f)
Life company auditable annual return(s) , means a form used for the collection and reporting of information in relation to a life company, as required to be provided to APRA by a life company in accordance with APRA Reporting Standards made under the …
GS 017
Definition
17(g)
Limited assurance engagement means an assurance engagement in which the assurance practitioner reduces engagement risk to a level that is acceptable in the circumstances of the engagement but where that risk is greater than for a reasonable assurance …
GS 017
Definition
17(h)
Prudential Requirements [8] , are defined in LPS 001 and include requirements imposed by: the Life Act ; Regulations (made under the Life Act ); APRA Prudential Standards (made under the Life Act ); the FSCODA; APRA Reporting Standards (made under the …
GS 017
Definition
17(i)
Reasonable assurance engagement means an assurance engagement in which the assurance practitioner reduces engagement risk to an acceptably low level in the circumstances of the engagement as the basis for the assurance practitioner’s conclusion. The …
GS 017
Definition
17(j)
Reliability under the Australian Accounting Standards Board’s Framework for the Preparation and Presentation of Financial Statements means information has the quality of reliability “… when it is free from material error and bias and can be depended upon …