182 paragraphs found
It is important that the RSE auditor understands the additional statutory responsibilities to report certain matters to APRA under the SIS Act. Failure to notify APRA as required represents a criminal offence, which attracts criminal …
Material findings (misstatements, control deficiencies and noncompliance) are reported to APRA and the RSE licensee’s Board (or Board Audit Committee) as modifications to the RSE auditor’s approved form …
Under Auditing Standard ASA 260 Communication with Those Charged With Governance (ASA 260), ASA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management (ASA 265) and ASAE 3000 , the RSE auditor communicates …
The RSE auditor informs TCWG of the RSE licensee of those uncorrected misstatements, other than clearly trivial amounts, aggregated by the RSE auditor during and pertaining to the engagement that were considered to be immaterial, both individually and in …
APRA may require the RSE licensee, by notice in writing, to appoint an auditor, who may be the existing RSE auditor or another auditor, as specified in APRA’s notice, to provide a report on a particular aspect of the RSE licensee’s business operations, …
Following the determination by APRA of the specific area to be examined, the RSE auditor, APRA and the RSE licensee agree on the terms of the engagement in accordance with the requirements of applicable AUASB Standards. These arrangements are legally …
The RSE auditor accepts the engagement only when the RSE auditor is satisfied that the RSE auditor and the engagement team, if applicable, have met the relevant ethical requirements relating to the assurance engagement. The concept of independence is …
An engagement letter (or other suitable form) helps to avoid misunderstandings with respect to the engagement and confirms both the RSE licensee’s and the RSE auditor’s understanding of the terms of the engagement, and the RSE auditor’s acceptance of the …
To ensure that there is a clear understanding regarding the terms of the engagement, the following are examples of matters to be agreed: APRA is to identify the scope of the RSE licensee’s business operations, risk management framework or prudential …
The RSE auditor appointed for a special purpose engagement under SPS 310 must provide limited assurance on the matters upon which the RSE auditor is required to report unless otherwise determined by APRA and advised to the RSE licensee in …