41 paragraphs found
In the absence of a Board Audit Committee (for a foreign insurer), the auditor will normally communicate with the senior officer outside …
CPS 510 requires an insurer or insurance group [26] to have in place an independent and adequately resourced internal audit function [27] . CPS 510 and APRA Prudential Practice Guide GPG 200 Risk Management set out the requirements and provide guidance to …
… has regard to the requirements and guidance provided in Auditing Standard ASA 580 Written Representations when …
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 Prudential Standard GPS 310 Audit and Related Matters applies to general insurers and insurance groups from 1 January 2013. …
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 …
… requirements and explanatory guidance are provided in Auditing Standard ASA 700 Forming an Opinion and Reporting …
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 …
Although the type of engagement to which this Guidance Statement relates is not in relation to the audit of a financial report under the Corporations Act 2001 , guidance on matters of governance interest that the Appointed or Group Auditor considers …
This Guidance Statement is issued on 16 May 2013 by the AUASB and replaces GS 004 Audit Implications of Prudential Reporting Requirements for General Insurers , issued in …