178 paragraphs found
Insurers and insurance groups have different systems and procedures in place to monitor compliance with specific Prudential Standards. Projections and estimates are likely to be part of the monitoring process, as the preparation of a full financial report …
As part of the Appointed or Group Auditor’s review of whether systems, procedures and controls exist to address compliance with the relevant statutory and regulatory requirements and conditions on the insurer’s or insurance group’s authority to carry on …
As part of the review, the Appointed or Group Auditor performs review procedures that they consider necessary in relation to the insurer’s or insurance group’s systems, procedures and controls which address compliance with all applicable Prudential …
Conditions on the insurer’s or insurance group’s authority to carry on insurance business may vary from one insurer or insurance group to another and the Appointed or Group Auditor makes enquiries with respect to conditions imposed on the insurer or …
In relation to Prudential Requirements specified in writing by APRA, the Appointed or Group Auditor of an insurer or insurance group limits the review to the Prudential Requirements specified in writing by APRA of which they are …
While the Appointed or Group Auditor is not expected to review the design or operating effectiveness of control procedures, during the course of the review, they may become aware of material control weaknesses which the Appointed or Group Auditor reports …
The Appointed or Group Auditor is required to express a conclusion as to whether anything has come to their attention that causes them to believe that the insurer’s or insurance group’s systems, procedures and controls relating to actuarial data integrity …
The Appointed or Group Auditor reviews whether systems, procedures and controls in place are adequate and operating effectively to ensure that source data used for actuarial valuations and completion of returns to APRA in accordance with the requirements …
The Appointed or Group Auditor is required to express a conclusion as to whether anything has come to their attention that causes them to believe that the insurer or insurance group has not complied, in all significant respects (refer paragraphs 77-78 ), …
The objective of the Appointed or Group Auditor’s review of the insurer’s or insurance group’s compliance with its RMS and REMS is whether they have complied substantially with key policies, procedures, structures and controls documented in the RMS and …