182 paragraphs found
Interpretation of the word ‘reliable’ in the context of limited assurance on controls over the RSE licensee’s APRA Annual Returns has practical limitations in some circumstances. For many RSE licensee’s, it is only at the financial yearend (or for RSE …
The RSE auditor enquires about whether there were any changes in internal control, or other matters, subsequent to the financial yearend date and up to the date of the RSE auditor’s assurance report, that may have an impact on the RSE auditor’s conclusion …
The RSE auditor investigates the nature and cause of any deviations from the design identified in the operation of the controls and determines whether: identified deviations are within the expected rate of deviation and are acceptable; therefore, the …
The objective of the RSE auditor’s limited assurance engagement on the RSE licensee’s compliance with its RMF is whether they have complied substantially with systems, structures, policies, processes and controls documented in the RMF and which are …
The RSE auditor’s limited assurance engagement on the compliance with the RMF may include the following procedures: Obtaining an understanding of the RMF and the process to identify material risks. Reviewing the RMF to determine at a high level whether it …
The RSE auditor may consider the measures in place which relate to the RSE licensee’s monitoring of, and reporting on, specific matters incorporated into the RMF. Such a review may include the following matters: Whether breaches of the RMF have been …
As part of the limited assurance engagement on compliance with the RMF, the RSE auditor may seek the following types of information and documentation: Copies of the RMF documents that set out the RSE licensee’s RMF during the period. Details of changes to …
There are practical limitations in requiring the RSE auditor to express a conclusion as to the RSE licensee’s compliance at all times with the RMF during the engagement period. However, the RSE auditor performs limited assurance procedures to the extent …
While the RSE auditor is not expected to review the adequacy of the RMF and the RMS, during the course of the limited assurance engagement the RSE auditor may become aware of significant deficiencies in the RMF and the RMS which they report to an …
The objective of the RSE auditor’s limited assurance engagement on the RSE licensee’s ORFR strategy is to ascertain whether the RSE licensee has complied with the policies, procedures and strategy contained within the ORFR strategy. There is no …