Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_49j
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 49J
Character Range: 69313–70258

49J  Auditor's role

 (1) The auditor of a general insurer appointed in accordance with section 39 must:
 (a) audit the insurer's yearly statutory accounts; and
 (b) perform for the insurer the functions of an auditor set out in the prudential standards; and
 (c) prepare, and give to the insurer, the reports (if any) required by the prudential standards to be prepared by the auditor.

 (2) The general insurer must make the arrangements that are necessary to enable the auditor to do those things.

 (3) The auditor must give the general insurer a certificate relating to the yearly statutory accounts. The certificate must contain statements of the auditor's opinion on the matters required by the prudential standards to be dealt with in the certificate.

 (4) The reports that the prudential standards require the auditor to prepare must deal with all of the matters required by the prudential standards to be dealt with in the reports.