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 purpose of this Guidance Statement, the following term has the meaning attributed below:   Associate means an entity, including an unincorporated entity such as a partnership, over which the investor has significant influence and that is neither a …

‘Controls’ or ‘internal controls’, as used in this Guidance Statement, is defined in ASAE 3150 and generally encompasses the following components: the control environment; the ADI’s risk assessment process; the information system, including the related …

‘Economic and Financial Statistics (EFS) Collection’, is defined in APRA Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection , and comprises the EFS Reporting Standards and data collected under the EFS Reporting …

‘Foreign ADI’, is defined in APS 001 to have the same meaning as under section 5 of the Banking Act. The terms “branch of a foreign bank” and “branch of a foreign ADI” are also used in APRA Reporting Standards and Reporting Forms when referring to a …

‘Group’, is defined in APS 001 as reference to a corporate group that comprises of more than one company that are related bodies corporate within the meaning of section 50 of the Corporations …

‘Head of the group’, means the head or parent entity of a Level 2 or Level 3 group, as relevant. Where a Level 2 group operates within a Level 3 group, a requirement expressed as applying to the head of the group, is to be read as applying to the “Level 3 …

‘Level 1’ ADI, means the ADI itself, as defined in APS 001 (see definition above). …

‘Level 2’ ADI group, means the entities that comprise “Level 2”, as defined in APS 001. …

‘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 …