Document ID: chunk:federal_register_of_legislation:F2018L00367:body:0:p3
Version: federal_register_of_legislation:F2018L00367
Segment Type: other
Provision Reference: 
Character Range: 5476–8677

310 Audit and Related Matters. Relevant standards and guidance statements issued by the Auditing and Assurance Standards Board provide information on the scope and nature of the review and testing required from external auditors. This review and testing must be done on an annual basis or more frequently if required by the external auditor to enable the external auditor to form an opinion on the accuracy and reliability of the information provided by an ADI under this Reporting Standard.

    13.         All information provided by an ADI under this Reporting Standard must be subject to processes and controls developed by the ADI for the internal review and authorisation of that information. These systems, processes and controls are to assure the completeness and reliability of the information provided.

Authorisation

    14.         When an officer of an ADI submits information under this Reporting Standard using the D2A application, or other method notified by APRA, it will be necessary for the officer to digitally sign the relevant information using a digital certificate acceptable to APRA.

Minor alterations to forms and instructions

    15.         APRA may make minor variations to:

       (a)          a form that is part of this Reporting Standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or

       (b)          the instructions to a form, to clarify their application to the form

    without changing any substantive requirement in the form or instructions.

    16.         If APRA makes such a variation it must notify in writing each ADI that is required to report under this Reporting Standard.

Interpretation

    17.         In this Reporting Standard:

    AASB has the meaning in section 9 of the Corporations Act 2001.

    ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.

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

    Australian-owned bank means a locally incorporated ADI that assumes or uses the word 'bank' in relation to its banking business and is not a foreign subsidiary bank.

    branch of a foreign bank means a 'foreign ADI' as defined in section 5 of the Banking Act 1959.

    building society means a locally incorporated ADI that assumes or uses the expression 'building society' in relation to its banking business.

    business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.

    class of ADI means each of the following:

        (i)                 Australian-owned bank;

        (ii)               foreign subsidiary bank;

        (iii)            branch of a foreign bank;

        (iv)             building society;

        (v)               credit union; and

        (vi)             other ADI.

    consolidated ADI group means a group comprising:

       (a)          an ADI that is a highest parent entity; and

       (b)          each subsidiary (within the meaning of Accounting Standard AASB 127) of that ADI, whether the subsidiary