‘Level 3’ group, as defined in APS 001 and 3PS 001, means the conglomerate group at the widest level and include all institutions determined by APRA to be members of a Level 3 group. APRA may determine a Level 3 group where it considers that material …

‘Level 3 head’, is defined in 3PS 001 to mean: an ADI or authorised NOHC under the Banking Act; a general insurer or authorised NOHC under the Insurance Act; or a life company or registered NOHC under the Life Insurance Act, determined by APRA to be the …

‘Limited assurance’, is defined in APS 001, in accordance with the AUASB’s Framework for Assurance Engagements . …

‘Prudential Requirements’ [23] , is defined in APS 001 and includes requirements imposed by: the Banking Act; Regulations (made under the Banking Act); APRA Prudential Standards (made under the Banking Act); the FSCODA; APRA Reporting Standards (made …

‘Reasonable assurance’, is defined in APS 001, in accordance with the AUASB’s Framework for Assurance Engagements . …

‘Routine reporting’, refers to the appointed auditor’s responsibility under APS 310, 3PS 310 and APS 910 to report to APRA and the ADI and/or Level 3 head, on an annual basis, in relation to the matters identified in paragraphs 48-57 of this Guidance …

‘Specified ADI Reporting Forms’, means APRA ADI Reporting Forms listed in APS 310 Attachment A – Data Collections subject to reasonable and/or limited assurance . …

‘Standardised ADI’, means an ADI that uses the standardised measurement approaches, available under APRA Prudential Standards, for capital adequacy purposes in respect of the whole of its operations. See also paragraph 28(d) …

Auditor Independence …

Audit Approach and Audit Plan …