Document ID: chunk:federal_register_of_legislation:F2024L00636:body:0:p6
Version: federal_register_of_legislation:F2024L00636
Segment Type: other
Provision Reference: 
Character Range: 13232–17148

an auditor engaged for a special purpose engagement must submit, within three months of the date of the notice commissioning the report, the auditor's report simultaneously to APRA and to the Board.
31.         An auditor must modify the report referred to in paragraph 28 for breaches of laws relating to the matters upon which the auditor is required to report which, in the auditor's professional opinion, are material. In forming an opinion as to whether a breach is material, the auditor must refer to relevant AUASB standards and guidance.

Attachment A - Content of auditor's report: information required under reporting standards made by APRA
     1. Subject to paragraph 2 of this Attachment, for the purposes of paragraph 22(a)(i) and 22(b)(i) of this Prudential Standard, the auditor's report must address the information in the following reporting standards on the basis specified below in relation to each listed reporting standard[13]:
   Reporting standard    Level of assurance
       (a)               Reporting Standard SRS 114.1 Operational Risk Financial Requirement                                                                               Reasonable
       (b)               Reporting Standard SRS 320.0 Statement of Financial Position                                                                                      Reasonable
       (c)               Reporting Standard SRS 330.0 Statement of Financial Performance                                                                                   Reasonable
       (d)               Reporting Standard SRS 533.0 Asset Allocation (in respect of MySuper lifecycle investment options only)                                           Limited
       (e)               Reporting Standard SRS 550.0 Asset Allocation (Table 1, columns 1-5 and 9-12 of Reporting Form SRF 550.1 Investments and Currency Exposure only)  Reasonable
       (f)               Reporting Standard SRS 602.0 Wind-up[14]                                                                                                          Reasonable
       (g)               Reporting Standard SRS 706.0 Fees and Costs Disclosed (in respect of MySuper investment options only)                                             Limited
       (h)               Reporting Standard SRS 800.0 Financial Statements[15]                                                                                             Reasonable
       (i)               Reporting Standard SRS 801.0 Investments and Investment Flows[16]                                                                                 Reasonable

2.             In place of the reporting standards listed in this attachment, the auditor's report for an RSE that has wound up must address the information in Reporting Standard SRS 602.0 Wind-up (SRS 602.0), plus the information in the additional reporting standards identified in SRS 602.0, on a reasonable assurance basis.

Attachment B - Content of auditor's report: compliance with legislative provisions
     1. For the purposes of paragraph 22(a)(ii) of this Prudential Standard, the auditor's report must address compliance, at a reasonable assurance level, with the following legislative provisions, to the extent that the provisions are applicable to the RSE licensee's business operations:
(a)          sections 29VA, 35A, 65, 66, 67, 95, 97, 98, 99F, 101, 105, 106, 109, 117, 154 and 155(2) of the SIS Act;
(b)          regulations 3.10, 5.08, 6.17, 7.04, 7.05, 9.09, 9.14, 13.14, 13.17 and 13.17A of the Superannuation Industry (Supervision) Regulations 1994;
(c)          sections 1012B, 1012F, 1012H(2), 1017B(1), 1017B(5), 1017D(1), 1017D(3A), 1017E(2), 1017E(3) and 1017E(4) of the Corporations Act; and
(d)          regulations 7.9.07R, 7.9.07S, 7.9.07T, 7.9.07V and 7.9.07W of the Corporations Regulations 2001.

[1]  For the purposes of this Prudential Standard, 'RSE