180 paragraphs found
Under CPS 510, a life company is required to ensure that its internal policy and contractual arrangements do not explicitly or implicitly restrict or discourage auditors (or other parties) from communicating with …
Under CPS 510, it is the responsibility of a life company’s Board and management to ensure that the life company meets prudential and statutory requirements and has management practices in place to limit risks to prudent …
Under the Life Act , a life company is required to appoint an auditor(s) to meet the prudential reporting requirements under LPS 310. LPS 310 sets out the eligibility criteria for the appointment of an auditor. …
Under LPS 310, a life company is required to ensure that its auditor(s): has access to all relevant data, information, reports and staff of the life company, which the auditor reasonably believes is necessary to fulfil their role and responsibilities …
Under LPS 310, a life company must ensure that the following are provided to its Board or Board Audit Committee (if not already sighted by one of them): reports, provided by the auditor in accordance with LPS 310, and any associated assessments and other …
LPS 310 requires a life company, if requested by APRA, within a reasonable time to provide APRA with the terms of engagement and other instructions or correspondence, including management letters, that may have a bearing on the: scope or conduct of the …
In order for the life company to provide the reports under LPS 310 to APRA within the period specified by APRA’s Reporting Standard LRS 001 Reporting Requirements [12] , the auditor of a life company must provide their report(s) to the Board of the life …
The Life Act specifies in section 88 the circumstances where the auditor is required to report to APRA in the instance where a life company or its directors may have contravened the Life Act or any other law and the contravention may significantly …
In accordance with LPS 310, an auditor, whether as part of the annual prudential reporting or special purpose engagements, must not place sole reliance on work performed by …
The requirement to report in accordance with APRA’s annual prudential reporting requirements is in addition to the audit or review of financial reports required under the Act, and is to be treated by the auditor as a separate assurance …