Internal control encompasses the following components: the control environment; the RSE licensee’s risk assessment process; information systems, including the related business processes, relevant to financial and prudential reporting, and communication; …

RSE auditor means an independent auditor(s) appointed by the RSE licensee to meet the prudential reporting requirements under SPS 310.   Under SPS 310, it is possible for the RSE licensee to have more than one RSE auditor at any time, and for an RSE …

APRA Annual Return(s) , means a form used for the collection and reporting of information in relation to the RSE licensee, as required to be provided to APRA by the RSE licensee in accordance with APRA Reporting Standards made under the FSCOD …

Limited assurance engagement means an assurance engagement in which the RSE auditor 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 engagement as …

Prudential requirements include requirements under the: SIS Act; SIS Regulations prudential standards (and Prudential Practice Guides(SPG)); reporting standards; FSCOD Act; license conditions, authorisations, superannuation data and payment standards; and …

Reasonable assurance engagement means an assurance engagement in which the RSE auditor reduces engagement risk to an acceptably low level in the circumstances of the engagement as the basis for the RSE auditor’s conclusion. The RSE auditor’s conclusion is …

RSE under section 10(1) of the SIS Act means: a regulated superannuation fund; or an approved deposit fund; or a pooled superannuation trust;   but does not include a self-managed superannuation …

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 …

For the purposes of this Guidance Statement, the following items have the meanings attributed below: …

Auditor ― A registered company auditor [6] . …