178 paragraphs found
Under GPS 310, the auditor’s review report, addressed to those charged with governance of the group, must be prepared on an annual basis. Furthermore, it must be submitted to the parent entity of the insurance group within such time as to enable the …
In preparing this auditor’s review report, APRA requires the Group Auditor to have regard to relevant AUASB Standards and Guidance Statements, to the extent that these pronouncements are not inconsistent with the requirements of …
An illustrative example of an auditor’s review report on the annual accounts of an insurance group can be found in Appendix 2. …
In accordance with GPS 310, the Appointed and Group Auditor are required to perform a review and provide the insurer or the parent entity of the insurance group with a report specifying the Appointed or Group Auditor’s review conclusions, namely whether: …
Where the Appointed or Group Auditor identifies instances of noncompliance with Prudential Requirements during the course of reviewing the insurer’s systems, procedures and controls, GPS 310 requires the review report to include details of these matters …
In accordance with GPS 310, the review report is to be on an annual basis and to cover the same period as the yearly statutory accounts and annual accounts, unless other arrangements between APRA and either the insurer or the insurance group and/or the …
The prudential review report is required to be addressed to those charged with governance of the insurer or the insurance group and must be based on a limited assurance engagement. The report is to indicate that it is limited to the use of the insurer or …
The Appointed or Group Auditor undertakes the review engagement in accordance with ASAE 3000 [22] . …
The Appointed or Group Auditor considers materiality in providing reports as per GPS 310 and in the reporting of exceptions (refer paragraphs 73 to 78 …
Where the Appointed or Group Auditor determines it necessary to issue a modified review conclusion because of, for example, a significant breach of the RMS and the REMS or because of the existence of a material weakness in systems, procedures and controls …