45 paragraphs found
This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide guidance to auditors on various matters relating to the audit of compliance plans of registered managed investment schemes established in …
This Guidance Statement is issued on 12 August 2009 by the AUASB and replaces AGS 1052 Special Considerations in the Audit of Compliance Plans of Managed Investment Schemes which was issued in July …
The auditor of a managed investment scheme compliance plan is required to adhere to the requirements contained in the Standards on Assurance Engagements, including ASAE 3100 Compliance Engagements . The AUASB recognises that the audit of compliance plans …
It is important to note that this Guidance Statement does not impose any responsibilities on the auditor of a managed investment scheme compliance plan beyond those which are imposed by Standards on Assurance Engagements and the requirements of the Act. …
The managed investments regulatory regime which is administered by ASIC, is contained in Chapter 5C of the Act. Part 5C.4 of Chapter 5C specifically deals with scheme compliance plans, and inter alia requires that each registered scheme have in place a …
Under section 601EB(1) of the Act, ASIC must register a managed investment scheme within the prescribed timeframe, unless it appears to ASIC that certain requirements of the Act as specified in that provision have not been met, including whether the …
RG 132 provides guidance to responsible entities on how to prepare a compliance plan and in particular, on the structured and systematic process which needs to be undertaken when developing such plans. Consequently, when reviewing a compliance plan for …
ASIC has the authority to withhold the scheme’s registration, until such time as any deficiencies in the compliance plan which it may have identified during the registration process are rectified by the responsible …
Section 601HE(1) of the Act enables the responsible entity to make changes to the compliance plan, to facilitate the updating of the compliance plan as circumstances change, or in the case that particular measures are found to be ineffective. Under …
Section 601HA of the Act requires each registered scheme to have in place a compliance plan which sets out “adequate measures” that the responsible entity is to apply in operating the scheme to ensure compliance with the Act and the scheme’s …