182 paragraphs found
This Guidance Statement is issued on 30 January 2014 by the AUASB and replaces GS 002 Special Considerations in the Audit of Risk Management Requirements for Registrable Superannuation Entities and Licencees , issued in …
Under the Superannuation Industry (Supervision) Act 1993 (SIS Act), APRA is responsible for the prudential supervision and monitoring of prudential matters relating to all Registrable Superannuation Entities (RSEs) in order to protect the interests of …
APRA formulates, promulgates and enforces prudential policy and practice through Superannuation Prudential Standards (SPSs). In addition, APRA may also issue nonenforceable Superannuation Prudential Practice Guides (SPGs) and other guidelines, to assist …
The RSE auditor is required to report pursuant to the prudential reporting requirements specified by APRA in SPS 310 paragraph 19 as outlined below: reasonable assurance addressing: annual financial statements of each RSE prepared in accordance with …
This Guidance Statement provides guidance for each element of the assurance engagements under SPS 310, except for the report on the audit of the financial statements of the RSE licensee as specified in paragraph 19(a)(i) of SPS 310, for which mandatory …
In addition to the legislative and regulatory requirements imposed on RSE auditors, relevant Auditing and Assurance Standards Board (AUASB) Standards are applicable to engagements under the prudential standards. This Guidance Statement has been developed …
The RSE auditor in meeting their role and responsibilities under these engagements is required by APRA to comply with relevant standards and guidance issued by the AUASB to the extent that they are not inconsistent with the requirements of SPS 310 and …
For the purposes of this Guidance Statement, the following items have the meanings attributed below: …
Assurance engagement means an engagement in which the RSE auditor aims to obtain sufficient appropriate evidence in order to express a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party about the …
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; …