178 paragraphs found
The Appointed or Group Auditor’s review of compliance with the RMS and the REMS may include the following procedures: Obtaining an understanding of the RMF and the process to identify material risks. Reviewing the relevant RMS and the REMS to confirm that …
As part of the Appointed or Group Auditor’s review, they may consider the measures in place which relate to the insurer’s or insurance group’s monitoring of, and reporting on, specific matters incorporated into the RMS and the REMS. Such a review may …
As part of the review of compliance with the RMS and the REMS, the Appointed or Group Auditor may seek the following types of information and documentation: Copies of the RMS and the REMS that applied during the period covered by the review. Details of …
There are practical limitations in requiring the Appointed or Group Auditor to express a conclusion as to the insurer’s or insurance group’s compliance at all times with the RMS and the REMS during the review period. However, the Appointed or Group …
While the Appointed or Group Auditor is not expected to review the adequacy of the RMS and the REMS, during the course of the review the Appointed or Group Auditor may become aware of significant deficiencies in the RMS and the REMS which they report to …
The auditor lists any key strategies included in the RMS and the REMS provided to APRA by the insurer or insurance group, but not reviewed by them as a consequence of a circumstance that makes the review impractical (for example, any period for which the …
The Group Auditor of an insurance group should also be aware of Attachment D to GPS 220 in so far as it may relate to adjustments to prudential requirements for insurance …
The Appointed Auditor of an insurer, or the Group Auditor of the insurance group is required to express a conclusion as to whether anything has come to the auditor’s attention that causes the auditor to believe that the insurer or insurance group does not …
Interpretation of the word ‘reliable’ in the context of paragraph 102 , requires mutual understanding in that it has practical limitations in the present circumstances. For many insurers or insurance groups, it is at reporting periodend only that the …
APRA expects review procedures to include limited tests of control in relation to the compilation of the required statistical and financial information included in the APRA Quarterly or SemiAnnual Returns, to the extent the Appointed or Group Auditor …