49 paragraphs found
The use by life companies and APRA of assurance reports prepared by auditors is to be evaluated in the context of the inherent limitations of an audit or review (refer paragraphs 111–115 ) and the subject matter of the audit or review (refer …
For a listing of life company annual returns to be subjected to audit, refer to APRA Prudential Standard LPS 310 b . …
… The auditor complies with the requirements of Auditing Standard ASA 560 Subsequent Events (ASA 560), as …
CPS 510 requires that the objectives of the internal audit function include an evaluation of the adequacy and effectiveness of the financial and risk management framework of the life …
… of financial information, complies with the requirements of Auditing Standard ASA 600 Special Considerations Audits of a …
The LPS 310 prudential reporting requirements, imposed on the auditor via the terms of engagement with a life company, are in addition to the audit or review of financial reports required under the …
… APRA places reliance on accounting and auditing standards to the extent that they do not conflict … role and responsibilities, to comply with the Australian Auditing Standards and consider Guidance Statements issued …
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 …
A life company may appoint an auditor to fulfil LPS 310 requirements that is different to the auditor responsible for undertaking the financial report audit or review under the Act however this is not a common …
Life company auditable annual return(s) , means a form used for the collection and reporting of information in relation to a life company, as required to be provided to APRA by a life company in accordance with APRA Reporting Standards made under the …