41 paragraphs found
… Reference to Auditing Standard ASA 260 Communication with Those Charged …
Broadly, section 49J of the Act, together with GPS 310, requires the appointed auditor to: conduct an audit of the yearly statutory accounts of the insurer and provide an auditor’s report to the insurer which contains the auditor’s opinion in relation to …
… in the calculation of the insurer’s PCR under ASA 540 Auditing Accounting Estimates, Including Fair Value …
… accordance with ASAE 3000 and having due regard to relevant Auditing Standards (ASAs), ASREs, ASAEs and Standards on …
Prior to issuing the Appointed or Group Auditor’s review report, the Appointed or Group Auditor obtains a written representation from the insurer or the insurance group’s management [24] which contains its assertions, for example, that the insurer or the …
To ensure that there is a clear understanding regarding the terms of the engagement, the following are examples of matters to be agreed: APRA is to identify the scope of the insurer’s or insurance group’s operations, risk management or financial affairs …
The Appointed Auditor considers materiality in providing the auditor’s report and in reporting exceptions. In considering materiality, the Appointed Auditor exercises professional judgement, having regard to the requirements and guidance provided in …
As part of the review, the Appointed or Group Auditor obtains an understanding of the insurer’s or insurance group’s compliance framework, which may include the following key elements: Procedures for identifying and updating compliance obligations. Staff …
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 …
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 …