178 paragraphs found
The Appointed or Group Auditor is required to express a conclusion as to whether anything has come to their attention that causes the Appointed or Group Auditor to believe that there are matters which, in the Appointed or Group Auditor’s opinion, will, or …
The Appointed or Group Auditor will report to APRA on the basis of information obtained during the course of the Appointed Auditor’s financial report audit under the Corporations Act 2001 , the audit of the yearly statutory accounts or the Group Auditor’s …
The Appointed Auditor of a foreign insurer is unlikely to have complete knowledge of the overseas operations of the parent or related entities of the foreign insurer. The Appointed Auditor may not have had responsibility for the financial report audit of …
Where a situation described at paragraph 107 exists, the Appointed Auditor of a foreign insurer is not expected to expand the scope of the review engagement in order to meet the reporting requirements of GPS 310, or to be aware of all material issues or …
In addition to APRA’s annual prudential reporting requirements, the Appointed or Group Auditor may be requested by the insurer or insurance group, under GPS 310, to undertake a special purpose engagement in relation to matters specified by APRA in …
APRA requires such special purpose engagements to be completed in accordance with relevant AUASB Standards and Guidance Statements, to the extent that these pronouncements are not inconsistent with the requirements of GPS …
Under GPS 310, the Appointed or Group Auditor’s special purpose engagement report is required to be submitted to APRA and the insurer or insurance group simultaneously, within three months of the engagement being commissioned, unless APRA grants an …
APRA may meet with the insurer and its Appointed Auditor or the insurance group and the Group Auditor, periodically to discuss the auditor’s report and to agree on the area(s) to be examined. Timing of these trilateral meetings is negotiated with the …
The Appointed or Group Auditor may be requested to perform any of the following types of engagements: an audit (reasonable assurance); a review (limited assurance); and/or agreed upon procedures (no …
It must be appreciated that the Appointed Auditor of an insurer or the Group Auditor of an insurance group, does not evaluate all aspects of the internal control structure and systems of controls when performing an audit or review of financial reports …