182 paragraphs found
Management and, where appropriate, those charged with governance of the RSE Licensee. …
Whilst conducting the audit of a RSE and associated RSE licensee, the RSE auditor may have other regulatory obligations that stem from the RSE licensee’s other financial services regulatory requirement. The RSE auditor should ensure there is a …
As outlined in SPS 310, the RSE licensee needs to ensure that the RSE auditor: is not disqualified under section 130D of the SIS Act; satisfies the eligibility criteria in Prudential Standard SPS 520 Fit and Proper (SPS 520) as applicable to the RSE …
The roles and responsibilities of the RSE auditor under SPS 310 will include at a minimum, reporting in an auditor’s report: a reasonable assurance opinion on the requirements in SPS 310 paragraph 19(a)(i), (ii) and (iii); and a limited assurance …
In addition, APRA may require the RSE auditor to undertake a special purpose engagement, when requested by APRA in writing, in relation to a particular aspect of the RSE licensee’s business operations, prudential requirements or the risk management …
The RSE auditor also has certain obligations and responsibilities under section 129 of the SIS Act to report to the RSE licensee and APRA in certain circumstances. Refer to paragraphs 46 and 47 for further …
The RSE auditor is required to modify the opinion contained in the auditor’s report for breaches of any provisions which, in the RSE auditor’s professional opinion, are material. In forming an opinion as to whether a breach is material, the RSE auditor …
The RSE auditor is required when preparing a report or assessment required under the SIS Act or SPS 310 (whether as part of a routine or special purpose engagement) to: do so on the basis that APRA may rely upon the report in the performance of its …
As outlined in SPS 310, the RSE auditor is required to retain all working papers and other documentation in relation to the prudential requirements of the RSE for a period of at least five years after the end of year of income. Where requested to do so in …
The RSE auditor and the RSE licensee agree on the terms for each discrete engagement as outlined under SPS 310, paragraph 19. Such terms may be detailed in one engagement letter or other suitable form of written contract. The RSE auditor has regard to …