Document ID: chunk:federal_register_of_legislation:F2024L00877:body:0:p12
Version: federal_register_of_legislation:F2024L00877
Segment Type: other
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Character Range: 30219–33216

the reasons for this opinion;

(c)          systems, procedures and controls relating to actuarial data integrity and financial reporting risks (the risks that incorrect source data will be used in completing returns to APRA in accordance with the Collection of Data Act) are adequate and effective;

(d)          during the course of testing the group's systems, procedures and controls, instances of non-compliance with prudential requirements have been identified.  If so, details are to be provided;

(e)          the group has complied, in all significant respects, with its Risk Management Strategy (RMS) and Reinsurance Management Strategy (ReMS). If the Group Auditor is of the opinion that the Level 2 insurance group has not complied with its RMS and ReMS, it must specify in the report the reasons for this opinion;

(f)           the group has systems, procedures and controls in place to ensure that reliable statistical and financial data are provided to APRA in the semi-annual returns required by reporting standards made under the Collection of Data Act. If the Group Auditor is of the opinion that the group does not have such systems, procedures and controls, it must specify in the report the reasons for this opinion; and

(g)          there are matters which have come to the Group Auditor's attention that will, or are likely to, adversely affect the interests of policyholders of the group. If so, the Group Auditor must provide details in the report.

Attachment D – Financial Information Declaration

     1. A regulated institution must provide to APRA a declaration on financial information (Financial Information Declaration) signed by:
(a)          the chief executive officer (CEO) (by whatever name called, or for a Category C insurer, the local equivalent); and
(b)          the chief financial officer (CFO) (by whatever name called, or for a Category C insurer, the local equivalent).
    This declaration is set out in paragraph 2 of this Attachment. Where the CEO and the CFO are the same person, the Financial Information Declaration must be signed by that person and another person to be agreed upon with APRA.
    2.             The CEO and the CFO must (by the time provided for in paragraph 3 of this Attachment) provide APRA with a Financial Information Declaration, signed by both of them,[33] stating that for the last financial year, to the best of their knowledge and belief having made appropriate enquiries:
       (a)          the financial information that the regulated institution has lodged with APRA has been prepared in accordance with the Act, Regulations, prudential standards, the Collection of Data Act, accounting standards and other mandatory professional reporting requirements in Australia, to the extent that the accounting standards and professional reporting requirements do not contain any requirements contrary to the aforementioned legislative and prudential requirements;

       (b)          the information provided