Other sections included in the auditor’s report …

Report on Other Legal and Regulatory Requirements …

Fraud …

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 …

Life company means all life companies (including friendly societies) registered under section 21 of the Life Act . …

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 …

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 …

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 …

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 …

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 …