Document ID: chunk:federal_register_of_legislation:F2023L00773:front:0:p3
Version: federal_register_of_legislation:F2023L00773
Segment Type: other
Provision Reference: 
Character Range: 5575–8784

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:

       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 Private Health Insurance (Prudential Supervision) Act 2015;

       private health insurer has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015; and

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

    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 111.0

Adjustments and Exclusions

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.

The adjustments and exclusions referred to herein relate only to the prescribed capital amount as defined in Prudential Standard HPS 110 Capital Adequacy (HPS 110). Adjustments and exclusions to an insurer's capital base should be reported separately in Reporting Standard HRS 112.0 – Determination of Capital Base.

Definitions

Terms highlighted in bold italics indicate that the definition is provided in these instructions.

A
APRA-approved adjustment amount  If APRA is of the view that the APRA-approved adjustment type does not produce an appropriate outcome in respect of a fund, or if a private health insurer has used inappropriate judgement or estimation in calculating the APRA-approved adjustment type for a fund, APRA may adjust the APRA-approved adjustment type calculation for that fund.

                                 Where the adjustment relates to the transitional arrangements referred to in HPS 110, this amount should be reported as an APRA-approved adjustment amount with the APRA-approved adjustment transitional indicator reported as "Y" and the APRA-approved adjustment type reported as "Prescribed