178 paragraphs found
GPS 310 Attachment B requires on an annual basis, the Group Auditor to: conduct a review of the group’s annual accounts and provide a report to the parent entity of the insurance group which contains the Group Auditor’s conclusion in relation to the …
The Appointed Auditor and the insurer agree on the terms of the engagement. In the case of an insurance group, the terms of engagement is between the Group Auditor and the parent entity of the insurance group. Such terms may be detailed in an engagement …
The requirement to audit the yearly statutory accounts of the insurer or review the annual accounts of the insurance group is in addition to the audit or review of financial reports required under the Corporations Act 2001 and is to be treated by the …
The audit or review of financial reports required under the Corporations Act 2001 and the audit of the yearly statutory accounts or review of the annual accounts required under the Act are directed towards obtaining sufficient evidence to form an opinion …
It is important that those charged with governance of the insurer or insurance group are aware of the Appointed or Group Auditor’s obligations referred to in GPS 310 and of the implications for confidentiality. It is important also that the engagement …
The engagement letter explains that any special purpose engagement of specific matters relating to the insurer’s or insurance group’s operations, risk management or financial affairs, will constitute a separate engagement(s) and that the details of such …
Example engagement letters to accommodate APRA reporting requirements as per GPS 310 are set out in Appendix 4: General Insurer and Appendix 5: Level 2 Insurance Group of this Guidance …
Section 49J of the Act, and GPS 310, include a requirement for the Appointed Auditor to audit the yearly statutory accounts of the insurer and to provide an auditor’s report to the insurer in relation to those accounts. GPS 310 requires the auditor’s …
Under GPS 310, the auditor’s report, addressed to those charged with governance of the insurer, must be prepared on an annual basis. Furthermore, it must be submitted to the insurer within such time as to enable the insurer to provide the report to APRA …
In preparing this auditor’s report, APRA requires the Appointed Auditor to have regard to relevant AUASB Standards and Guidance Statements, to the extent that these pronouncements are not inconsistent with the requirements of GPS …