Document ID: chunk:federal_register_of_legislation:F2024L00877:body:0:p14
Version: federal_register_of_legislation:F2024L00877
Segment Type: other
Provision Reference: 
Character Range: 36929–40202

Expenses                                                REASONABLE
GRS_311.0   Statement of Profit or Loss and Other Comprehensive Income by Product Group   LIMITED
GRS_320.0   Liability Roll Forwards                                                       REASONABLE
GRS_400.0   Statement of Risk by Country[36]                                              NONE
GRF_410.0   Movement in Outstanding Claims Liabilities                                    REASONABLE
GRS_420.0   Insurance Revenue and Incurred Claims by State and Territory of Australia36   NONE
GRS_440.0   Claims Development Table                                                      REASONABLE
GRS_460.0   Reinsurance Assets by Counterparty36                                          NONE
GRS_460.1   Exposure Analysis by Reinsurance Counterparty36                               NONE
GRS_600.0   Supplementary Capital Data: Premiums and Claims                               LIMITED

Level 2 (or Insurance Group)

Group Auditors must provide limited assurance on the annual data reported by Level 2 insurers.

    [1]  Refer to section 39 of the Act.
    [2]  Refer to paragraph 7(1)(c) of the Act.
    [3]  Refer to section 49J of the Act.
    [4]  Refer to section 49L of the Act.
    [5]  This Prudential Standard sets out further detail regarding these certificates and reports.
    [6]  Refer to section 49J of the Act.
    [7]  Refer to paragraph 49J(1)(a) and subsection 49J(3) of the Act.
    [8]  Refer to subsection 49(J)(3) of the Act.
    [9]  Refer to paragraph 49J(1)(c) of the Act.
    [10]  Refer to subsection 49J(4) of the Act.
    [11]  Refer to paragraphs 49L(1)(a) and (aa) of the Act.
    [12]  Refer to paragraphs 49J(1)(b) and (c), and subsection 49J(4) of the Act.
    [13]  Refer to sections 49 and 49A of the Act for details of these requirements. See also section 49B of the Act in relation to voluntary reporting.
    [14]  Refer to section 49 of the Act.
    [15]  Refer to section 307B, Corporations Act 2001 for further requirements in relation to audit working papers.
    [16]  Within the meaning of paragraph 49A(2)(d) of the Act.
    [17]  Refer to subsection 49A(2) of the Act.
    [18]  Note the operation of section 38E of the Act in relation to disclosure of certain information to directors and officers of the insurer.
    [19]  Refer to sections 49 or 49A of the Act.
    [20]  Refer to subsection 38F(1) of the Act.
    [21]  Refer to section127B of the Act.
    [22]  Refer to subsection 49J(3) of the Act.
    [23]  Refer to paragraph 49J(1)(c), subsection 49J(4) and paragraph 49L(1)(aa) of the Act.
    [24]  Reliance on an exercise of APRA's discretion with respect to actuarial matters under a previous version of Prudential Standard GPS 310 Audit and Actuarial Valuation and Reporting is captured in Prudential Standard CPS 320 Actuarial and Related Matters.
    [25]  Note that the Appointed Auditor must meet fit and proper criteria under Prudential Standard CPS 520 Fit and Proper (CPS 520).
    [26]  Note that the Appointed Auditor must meet fit and proper criteria under CPS 520.
    [27]  As defined in CPS 520. Note that the responsible auditor must meet fit and proper criteria under CPS 520.
    [28]  In particular, under CPS 510 read with this