Document ID: chunk:federal_register_of_legislation:F2023L00583:front:0:p3
Version: federal_register_of_legislation:F2023L00583
Segment Type: other
Provision Reference: 
Character Range: 5482–8573

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.

14.         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

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

Variations

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

Interpretation

17.         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)          the following definitions are applicable:

AASB references relate to the Australian Accounting Standards made by the Australian Accounting Standards Board;

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

capital standards means the prudential standards which relate to capital adequacy as defined in HPS 001;

officer has the same meaning as in the Act;

       private health insurer has the same meaning as in the Act; and

       reporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7; and

the Act means the Private Health Insurance (Prudential Supervision) Act 2015.

18.         Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.

Reporting Standard HRS 114.0

Asset Risk Charge

General instructions

Reporting tables

Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

Any specific combination of values in a table must not appear on more than one row in that table when reported.

Look-through treatment

For asset and liability items that have been treated on a look-through basis for the purpose of Prudential Standard HPS 114 Capital Adequacy: Asset Risk Charge (HPS 114), report the effective underlying exposures after adjustments for look-through as well as their resultant impacts on capital base respectively.

Derivative treatment

All items should be reported gross of impacts from derivatives. Report the fair value of open derivative positions under derivatives (liabilities) and derivatives (assets).

Assets subject to stress

Exclude from the calculation of Asset Risk