Document ID: chunk:federal_register_of_legislation:F2024L00144:front:0:p3
Version: federal_register_of_legislation:F2024L00144
Segment Type: other
Provision Reference: 
Character Range: 5597–8713

to APRA and must set out the auditor's opinion as to whether:

       (a)          the records for the health benefits fund contain the information required to be kept by this Reporting Standard and the Private Health Insurance Risk Equalisation (Administration) Rules 2015;

       (b)          the submitted information for the purposes of this Reporting Standard, accurately reflects the information contained in the records of the health benefits fund; and

       (c)          the records of the health benefits fund have been accurately compiled so as to permit the private health insurer to fairly state the information required by this Reporting Standard.

    15.         If a private health insurer received a qualified auditor's report for a health benefits fund for the year previous to the year for which the report is provided, the report for the year for which the report is provided must state whether the auditor has examined the issues identified and is satisfied that the private health insurer has taken the appropriate steps to rectify the matters raised in the previous report.

    16.         The auditor's report must:

       (a)          state details of the program adopted to carry out the audit; and

       (b)          include the name of, and be signed by, the auditor who takes responsibility for the accuracy of the report.

Authorisation

    17.         A person who submits the information required under this Reporting Standard must be suitably authorised by an officer of the private health insurer.

Variations

    18.         APRA may, in writing, vary the reporting requirements of this Reporting Standard in relation to a private health insurer.

Transitional

    19.         A private health insurer must report under the old reporting standard in respect of a transitional reporting period. For these purposes:

    old reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and

    transitional reporting period means a reporting period under the old reporting standard:

       (a)          which ended before 31 March 2024; and

       (b)          in relation to which the private health insurer was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.

    Note: For the avoidance of doubt, if a private health insurer was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the private health insurer is still required to provide any overdue reporting documents in accordance with the old reporting standard.

Interpretation

    20.         In this Reporting Standard:

       (a)          unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard HPS 001 Definitions (HPS 001); and

       (b)          APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;

officer has the