Document ID: chunk:federal_register_of_legislation:F2022L01572:body:0:p5
Version: federal_register_of_legislation:F2022L01572
Segment Type: other
Provision Reference: 
Character Range: 10880–13798

and
       (b)  form or content, including findings or opinions by the appointed auditor, or coverage of the reports provided in accordance with this Prudential Standard.
   23.        An ADI must ensure that the appointed auditor has access to all data, information, reports and staff of the ADI that the appointed auditor reasonably believes is necessary to fulfil its role and responsibilities under this Prudential Standard. This includes access to the ADI's Board, Board Committees and internal auditors as required.
   24.        An ADI must ensure that its appointed auditor is fully informed of all prudential requirements applicable to the ADI. In addition, the ADI must ensure that the appointed auditor is provided with any other information APRA has provided to the ADI that may assist the appointed auditor in fulfilling its role and responsibilities under this Prudential Standard.
   25.        An ADI must ensure that the following are provided to its Board or Board Audit Committee (if not already sighted by the Board or Board Audit Committee):
       (a)          reports provided by the appointed auditor in accordance with this Prudential Standard, and any associated assessments and other material provided by an appointed auditor to the ADI on request;

       (b)          commentary or responses provided by APRA to the ADI on reports provided by the appointed auditor, and any associated assessments and other material; and

       (c)          any commentary or response on the reports, associated assessments and other material provided by the appointed auditor that are given to APRA by the ADI.

Internal audit

   26.        An ADI must ensure that the scope of internal audit includes a review of the policies, processes and controls put in place by management to ensure compliance with APRA's prudential requirements.
   27.        An ADI must allow its internal auditor to be represented in tripartite meetings with APRA, the ADI and its appointed auditor.

Meetings with the appointed auditor

   28.        APRA liaison with an appointed auditor will normally be conducted under tripartite arrangements involving APRA, the ADI and the appointed auditor. Notwithstanding the tripartite relationship, APRA and an appointed auditor may meet, at any time, on a bilateral basis at the request of either party.
   29.        Where an ADI is part of a Level 2 group, APRA may meet with the ADI, the head entity of the Level 2 group and the appointed auditor and the internal auditor at the same time, or separately on a Level 1 and Level 2 basis, as APRA deems appropriate.
   30.        For the purposes of this Prudential Standard, it is the responsibility of an appointed auditor to attend all meetings with APRA related to this Prudential Standard, whether on:
       (a) a bilateral basis between APRA and the appointed auditor; or
       (b) a tripartite basis between APRA, the