{"id":"F2023L00629","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 88 of 2023","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-88-of-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":104331,"registerId":"commonwealth-F2023L00629-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"General instructions","sectionType":"part","heading":"General instructions","content":"Reporting Standard GRS 400.0\n\nStatement of Risk by Country\n\n## General instructions\n\n### Reporting tables\n\nTables 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.\n\n### AASB Standard References\n\nEach accounting item reported aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item.\n\n### IFRS taxonomy element reference\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n    (a) disclosure — an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;\n    (b) example — an element of this type represents an example provided in an IFRS / AASB Standard or its accompanying materials; and\n    (c) common practice — an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS / AASB Standards or their accompanying materials, but are consistent with IFRS / AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\nCountry / region list\n\nThe appropriate information is to be reported by country / region of risk, as specified in the Reporting Standard. This is reported according to where the items of income / expense are on risk, assets are invested, and liabilities are located. Countries / regions of risk are:\n\n    Australia\n    New Zealand\n    USA\n    UK\n    Japan\n    South East Asia (excluding Japan)\n    Continental Europe\n    Other\n\nSpecific instructions\n\n### Reporting basis\n\nThis Reporting Standard only needs to be completed where the reporting insurer has business operations outside of Australia (i.e. where they have items of income, expense, assets, liabilities or capital outside of Australia).\n\nReport information for each reporting period on a Level 1 (licensed insurer) basis.\n\nDirect business is any insurance business written or insurance contracts issued by the reporting insurer.\n\nInwards reinsurance is any reinsurance business written or reinsurance contracts issued by the reporting insurer.\n\n### Units of measurement\n\nReport values in whole Australian dollars (AUD) with no decimal place.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\nReport losses and expenses as negative values.\n\nTable 1: Statement of Risk by Country\n\n| Column 1 | Report the amount for inside Australia.                                                                                                                                                                                                                                                                                                  |\n| -------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Column 2 | Report the amount for New Zealand.                                                                                                                                                                                                                                                                                                       |\n| Column 3 | Report the amount for the USA.                                                                                                                                                                                                                                                                                                           |\n| Column 4 | Report the amount for the UK.                                                                                                                                                                                                                                                                                                            |\n| Column 5 | Report the amount for Japan.                                                                                                                                                                                                                                                                                                             |\n| Column 6 | Report the amount for South East Asia (excluding Japan).                                                                                                                                                                                                                                                                                 |\n| Column 7 | Report the amount for Continental Europe.                                                                                                                                                                                                                                                                                                |\n| Column 8 | Report the amount for all other countries.                                                                                                                                                                                                                                                                                               |\n| Column 9 | Report the total amount.Column 9 is calculated as the sum of column 1 to column 8.Totals in this column should align with the corresponding totals in Reporting Standard GRS 310.0 Statement of Profit and Loss and Other Comprehensive Income (GRS 310.0) and Reporting Standard GRS 300.0 Statement of Financial Position (GRS 300.0). |\n\nThe following items relate to GRS 310.0.\n\n1.  Insurance revenue\n\n| Item 1   | Item 1, insurance revenue, is a derived item and is calculated as the sum of items 1.1 and 1.2.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80(a), and AASB 17.83.This item aligns with item 1 of GRS 310.0. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report insurance revenue from direct business.This item aligns with item 1.1 of GRS 310.0.                                                                                                                                                   |\n| Item 1.2 | Report insurance revenue from inwards reinsurance.This item aligns with item 1.2 of GRS 310.0.                                                                                                                                               |\n\n2. Insurance service expense\n\n| Item 2   | Item 2, insurance service expense, is a derived item and is calculated as the sum of items 2.1 and 2.2.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a), and AASB 17.84.This item aligns with item 2 of GRS 310.0. |\n| -------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report insurance service expense from direct business.This item aligns with item 2.1 of GRS 310.0.                                                                                                                                                |\n| Item 2.2 | Report insurance service expense from inwards reinsurance.This item aligns with item 2.2 of GRS 310.0.                                                                                                                                            |\n\n3. Insurance service result before reinsurance contracts held\n\n| Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2.Report this item in accordance with AASB 17 Appendix A.This item aligns with item 3 of GRS 310.0. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n4. Allocation of reinsurance premiums\n\n| Item 4 | Report the allocation of reinsurance premiums.It is requested that the entity present this item separately from amounts recoverable from reinsurers for incurred claims reported at item 5.This item is based on AASB 17.86.This item aligns with item 4 of GRS 310.0. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n5. Amounts recoverable from reinsurers\n\n| Item 5 | Report the amounts recoverable from reinsurers.Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held.Report this item in accordance with AASB 17.86.This item aligns with item 5 of GRS 310.0. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6. Net expense from reinsurance contracts held\n\n| Item 6 | Item 6, net expense from reinsurance contracts held, is a derived item and is calculated as the sum of items 4 and 5. This item can be a net income or net expense.Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86.This item aligns with item 6 of GRS 310.0. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7. Insurance service result\n\n| Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of items 3 and 6.Report this item in accordance with AASB 17.80 (a).This item aligns with item 7 of GRS 310.0. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n8. Total investment result\n\n| Item 8 | Report total investment result.Refer to item 16 of GRS 310.0. |\n| ------ | ------------------------------------------------------------- |\n\nThe following items relate to GRS 300.0.\n\n9. Insurance contract assets\n\n| Item 9   | Item 9, insurance contract assets, is a derived item calculated as the sum of item 9.1 and 9.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).This item aligns with item 7 of GRS 300.0.                                                                                               |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure, and AASB 101.54 (da) Disclosure.This item aligns with item 7.1 of GRS 300.0.           |\n| Item 9.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure, and AASB 101.54 (da) Disclosure.This item aligns with item 7.2 of GRS 300.0. |\n\n10. Reinsurance contract assets\n\n| Item 10   | Item 10, reinsurance contract assets, is a derived item and is calculated as the sum of item 10.1 and item 10.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).This item aligns with item 8 of GRS 300.0.         |\n| --------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 10.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.This item aligns with item 8.1 of GRS 300.0.         |\n| Item 10.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure, and AASB 101.54 (da) Disclosure.This item aligns with item 8.2 of GRS 300.0. |\n\n11. Other financial assets\n\n| Item 11 | Report other financial assets.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.This item aligns with item 5.1 of GRS 300.0. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n12. Other non-financial assets\n\n| Item 12 | Report other non-financial assets.Report this item in accordance with AASB 101.55 Common practice.This item aligns with item 5.2 of GRS 300.0. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------- |\n\n13. All other assets\n\n| Item 13 | Report all other assets. |\n| ------- | ------------------------ |\n\n14. Total assets\n\n| Item 14 | Item 14, total assets, is a derived item and is calculated as the sum of: item 9; item 10; item 11; item 12; and item 13.Report this item in accordance with AASB 101.55 Disclosure.Refer to item 15 of GRS 300.0. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n15. Insurance contract liabilities\n\n| Item 15   | Item 15, insurance contract liabilities, is a derived item and is calculated as the sum of item 15.1 and item 15.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 and AASB 101.54 (ma).This item aligns with item 18 of GRS 300.0.                       |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 15.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure, and AASB 101.54 (ma) DisclosureThis item aligns with item 18.1 of GRS 300.0.       |\n| Item 15.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100(a)-(b) Disclosure and AASB 101.54 (ma) Disclosure.This item aligns with item 18.2 of GRS 300.0. |\n\n16. Reinsurance contract liabilities\n\n| Item 16   | Item 16, reinsurance contract liabilities, is a derived item and is calculated as the sum of item 16.1 and item 16.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) and AASB 101.54 (ma).This item aligns with item 19 of GRS 300.0.                                                                                                       |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 16.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure, and AASB 101.54 (ma) Disclosure.This item aligns with item 19.1 of GRS 300.0.      |\n| Item 16.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure.This item aligns with item 19.2 of GRS 300.0. |\n\n17. Investment contract liabilities\n\n| Item 17 | Report investment contract liabilities.Report this item in accordance with AASB 101.54 (m).This item aligns with item 17 of GRS 300.0. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------- |\n\n18. Other financial liabilities\n\n| Item 18 | Report other financial liabilities.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure.This item aligns with item 21.1 of GRS 300.0. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n19. Other non-financial liabilities\n\n| Item 19 | Report other non-financial liabilities.This item aligns with item 21.2 of GRS 300.0. |\n| ------- | ------------------------------------------------------------------------------------ |\n\n20. All other liabilities\n\n| Item 20 | Report all other liabilities. |\n| ------- | ----------------------------- |\n\n21. Total liabilities\n\n| Item 21 | Item 21, total liabilities, is a derived item and is calculated as the sum of: item 15; item 16; and items 17 to 20 inclusive.Report this item in accordance with AASB 101.55 Disclosure.This item aligns with item 26 of GRS 300.0. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":0},{"sectionNumber":"Reporting tables","sectionType":"division","heading":"Reporting tables","content":"### Reporting tables\n\nTables 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.","sortOrder":1},{"sectionNumber":"AASB Standard References","sectionType":"division","heading":"AASB Standard References","content":"### AASB Standard References\n\nEach accounting item reported aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item.","sortOrder":2},{"sectionNumber":"IFRS taxonomy element reference","sectionType":"division","heading":"IFRS taxonomy element reference","content":"### IFRS taxonomy element reference\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n    (a) disclosure — an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;\n    (b) example — an element of this type represents an example provided in an IFRS / AASB Standard or its accompanying materials; and\n    (c) common practice — an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS / AASB Standards or their accompanying materials, but are consistent with IFRS / AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\nCountry / region list\n\nThe appropriate information is to be reported by country / region of risk, as specified in the Reporting Standard. This is reported according to where the items of income / expense are on risk, assets are invested, and liabilities are located. Countries / regions of risk are:\n\n    Australia\n    New Zealand\n    USA\n    UK\n    Japan\n    South East Asia (excluding Japan)\n    Continental Europe\n    Other\n\nSpecific instructions","sortOrder":3},{"sectionNumber":"Reporting basis","sectionType":"division","heading":"Reporting basis","content":"### Reporting basis\n\nThis Reporting Standard only needs to be completed where the reporting insurer has business operations outside of Australia (i.e. where they have items of income, expense, assets, liabilities or capital outside of Australia).\n\nReport information for each reporting period on a Level 1 (licensed insurer) basis.\n\nDirect business is any insurance business written or insurance contracts issued by the reporting insurer.\n\nInwards reinsurance is any reinsurance business written or reinsurance contracts issued by the reporting insurer.","sortOrder":4},{"sectionNumber":"Units of measurement","sectionType":"division","heading":"Units of measurement","content":"### Units of measurement\n\nReport values in whole Australian dollars (AUD) with no decimal place.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\nReport losses and expenses as negative values.\n\nTable 1: Statement of Risk by Country\n\n| Column 1 | Report the amount for inside Australia.                                                                                                                                                                                                                                                                                                  |\n| -------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Column 2 | Report the amount for New Zealand.                                                                                                                                                                                                                                                                                                       |\n| Column 3 | Report the amount for the USA.                                                                                                                                                                                                                                                                                                           |\n| Column 4 | Report the amount for the UK.                                                                                                                                                                                                                                                                                                            |\n| Column 5 | Report the amount for Japan.                                                                                                                                                                                                                                                                                                             |\n| Column 6 | Report the amount for South East Asia (excluding Japan).                                                                                                                                                                                                                                                                                 |\n| Column 7 | Report the amount for Continental Europe.                                                                                                                                                                                                                                                                                                |\n| Column 8 | Report the amount for all other countries.                                                                                                                                                                                                                                                                                               |\n| Column 9 | Report the total amount.Column 9 is calculated as the sum of column 1 to column 8.Totals in this column should align with the corresponding totals in Reporting Standard GRS 310.0 Statement of Profit and Loss and Other Comprehensive Income (GRS 310.0) and Reporting Standard GRS 300.0 Statement of Financial Position (GRS 300.0). |\n\nThe following items relate to GRS 310.0.\n\n1.  Insurance revenue\n\n| Item 1   | Item 1, insurance revenue, is a derived item and is calculated as the sum of items 1.1 and 1.2.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80(a), and AASB 17.83.This item aligns with item 1 of GRS 310.0. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report insurance revenue from direct business.This item aligns with item 1.1 of GRS 310.0.                                                                                                                                                   |\n| Item 1.2 | Report insurance revenue from inwards reinsurance.This item aligns with item 1.2 of GRS 310.0.                                                                                                                                               |\n\n2. Insurance service expense\n\n| Item 2   | Item 2, insurance service expense, is a derived item and is calculated as the sum of items 2.1 and 2.2.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a), and AASB 17.84.This item aligns with item 2 of GRS 310.0. |\n| -------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report insurance service expense from direct business.This item aligns with item 2.1 of GRS 310.0.                                                                                                                                                |\n| Item 2.2 | Report insurance service expense from inwards reinsurance.This item aligns with item 2.2 of GRS 310.0.                                                                                                                                            |\n\n3. Insurance service result before reinsurance contracts held\n\n| Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2.Report this item in accordance with AASB 17 Appendix A.This item aligns with item 3 of GRS 310.0. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n4. Allocation of reinsurance premiums\n\n| Item 4 | Report the allocation of reinsurance premiums.It is requested that the entity present this item separately from amounts recoverable from reinsurers for incurred claims reported at item 5.This item is based on AASB 17.86.This item aligns with item 4 of GRS 310.0. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n5. Amounts recoverable from reinsurers\n\n| Item 5 | Report the amounts recoverable from reinsurers.Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held.Report this item in accordance with AASB 17.86.This item aligns with item 5 of GRS 310.0. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6. Net expense from reinsurance contracts held\n\n| Item 6 | Item 6, net expense from reinsurance contracts held, is a derived item and is calculated as the sum of items 4 and 5. This item can be a net income or net expense.Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86.This item aligns with item 6 of GRS 310.0. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7. Insurance service result\n\n| Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of items 3 and 6.Report this item in accordance with AASB 17.80 (a).This item aligns with item 7 of GRS 310.0. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n8. Total investment result\n\n| Item 8 | Report total investment result.Refer to item 16 of GRS 310.0. |\n| ------ | ------------------------------------------------------------- |\n\nThe following items relate to GRS 300.0.\n\n9. Insurance contract assets\n\n| Item 9   | Item 9, insurance contract assets, is a derived item calculated as the sum of item 9.1 and 9.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).This item aligns with item 7 of GRS 300.0.                                                                                               |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure, and AASB 101.54 (da) Disclosure.This item aligns with item 7.1 of GRS 300.0.           |\n| Item 9.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure, and AASB 101.54 (da) Disclosure.This item aligns with item 7.2 of GRS 300.0. |\n\n10. Reinsurance contract assets\n\n| Item 10   | Item 10, reinsurance contract assets, is a derived item and is calculated as the sum of item 10.1 and item 10.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).This item aligns with item 8 of GRS 300.0.         |\n| --------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 10.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.This item aligns with item 8.1 of GRS 300.0.         |\n| Item 10.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure, and AASB 101.54 (da) Disclosure.This item aligns with item 8.2 of GRS 300.0. |\n\n11. Other financial assets\n\n| Item 11 | Report other financial assets.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.This item aligns with item 5.1 of GRS 300.0. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n12. Other non-financial assets\n\n| Item 12 | Report other non-financial assets.Report this item in accordance with AASB 101.55 Common practice.This item aligns with item 5.2 of GRS 300.0. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------- |\n\n13. All other assets\n\n| Item 13 | Report all other assets. |\n| ------- | ------------------------ |\n\n14. Total assets\n\n| Item 14 | Item 14, total assets, is a derived item and is calculated as the sum of: item 9; item 10; item 11; item 12; and item 13.Report this item in accordance with AASB 101.55 Disclosure.Refer to item 15 of GRS 300.0. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n15. Insurance contract liabilities\n\n| Item 15   | Item 15, insurance contract liabilities, is a derived item and is calculated as the sum of item 15.1 and item 15.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 and AASB 101.54 (ma).This item aligns with item 18 of GRS 300.0.                       |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 15.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure, and AASB 101.54 (ma) DisclosureThis item aligns with item 18.1 of GRS 300.0.       |\n| Item 15.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100(a)-(b) Disclosure and AASB 101.54 (ma) Disclosure.This item aligns with item 18.2 of GRS 300.0. |\n\n16. Reinsurance contract liabilities\n\n| Item 16   | Item 16, reinsurance contract liabilities, is a derived item and is calculated as the sum of item 16.1 and item 16.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) and AASB 101.54 (ma).This item aligns with item 19 of GRS 300.0.                                                                                                       |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 16.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure, and AASB 101.54 (ma) Disclosure.This item aligns with item 19.1 of GRS 300.0.      |\n| Item 16.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure.This item aligns with item 19.2 of GRS 300.0. |\n\n17. Investment contract liabilities\n\n| Item 17 | Report investment contract liabilities.Report this item in accordance with AASB 101.54 (m).This item aligns with item 17 of GRS 300.0. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------- |\n\n18. Other financial liabilities\n\n| Item 18 | Report other financial liabilities.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure.This item aligns with item 21.1 of GRS 300.0. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n19. Other non-financial liabilities\n\n| Item 19 | Report other non-financial liabilities.This item aligns with item 21.2 of GRS 300.0. |\n| ------- | ------------------------------------------------------------------------------------ |\n\n20. All other liabilities\n\n| Item 20 | Report all other liabilities. |\n| ------- | ----------------------------- |\n\n21. Total liabilities\n\n| Item 21 | Item 21, total liabilities, is a derived item and is calculated as the sum of: item 15; item 16; and items 17 to 20 inclusive.Report this item in accordance with AASB 101.55 Disclosure.This item aligns with item 26 of GRS 300.0. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":5}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This is a standard reporting template/determination under the Financial Sector (Collection of Data) Act. It represents a discrete, technical instrument with a specific purpose: geographic risk reporting for insurers. There is no indication it has expanded beyond its original intent of collecting granular financial data by country for prudential supervision purposes."},"complexity_factors":["Extensive cross-referencing to other reporting standards (GRS 310.0 and GRS 300.0) and accounting standards (AASB 17, AASB 101, AASB 132, AASB 121)","21 distinct reporting items with multiple derived/calculated fields requiring summation of sub-items","Nested item structure (e.g., Item 9 = 9.1 + 9.2; Item 15 = 15.1 + 15.2)","Mandatory alignment with IFRS taxonomy elements and AASB disclosure requirements","Specific formatting constraints: whole AUD, no decimal places, negative values for losses/expenses","Conditional applicability trigger (only required for insurers with offshore operations)","Geographic segmentation across 8 columns requiring allocation decisions by country/region of risk"],"plain_english_summary":"A reporting standard under the Financial Sector (Collection of Data) Act requiring Australian licensed insurers with overseas activity to break out key financial items by country/region in a single table. It specifies which balance-sheet and income items to report, conversion to Australian dollars using AASB 121, whole-dollar reporting, negatives for losses, and alignment with other APRA reporting standards.\n\nAPRA uses the data to monitor insurers’ foreign exposures and cross‑border risk concentrations for prudential supervision and financial stability."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"The instrument does not broaden the population required to report. It applies only to Level 1 licensed insurers that have business outside Australia (i.e. items of income, expense, assets, liabilities or capital outside Australia). It formalises country-by-country disclosures and alignment requirements with GRS 300.0 and GRS 310.0 but does not expand coverage beyond that stated 'Reporting basis'."},"complexity_factors":["Multiple cross-references to AASB and IFRS (AASB 17, AASB 101, AASB 121, AASB 132) requiring mapping from accounting records to reporting fields (see 'AASB Standard References').","Country-by-country breakdown across eight regions and a mandatory total that must reconcile to other GRS standards (Column 9 reconciliation to GRS 310.0 and GRS 300.0).","Derived items (many rows are calculated as sums of sub-items) increasing risk of aggregation errors (e.g. Items 1, 2, 3, 6, 9, 10, 14, 15, 16, 21).","Separate treatment of direct business and inwards reinsurance, and presentation requirements for amounts recoverable and allocation of premiums (Items 1.1–1.2; 4–6; 9.1–9.2; 10.1–10.2).","Mandatory unit and formatting rules: whole Australian dollars, no decimals, losses negative, plus foreign‑currency conversion per AASB 121 ('Units of measurement').","Requirement to align reported items with other GRS reporting templates (GRS 300.0 and GRS 310.0) increases cross-system reconciliation and control burden.","Use of IFRS taxonomy element reference types (disclosure, example, common practice) imposes taxonomy mapping and XBRL-type tagging work (see 'IFRS taxonomy element reference').","Applies at Level 1 (licensed insurer) only but only where insurer has offshore operations, so complexity concentrates on insurers with multinational activities ('Reporting basis')."],"plain_english_summary":"This Reporting Standard requires licensed insurers with business outside Australia to file a country-by-country Statement of Risk (by listed regions) showing insurance revenue, service expenses, reinsurance items, assets and liabilities. Amounts must be prepared under AASB/IFRS rules, converted to whole AUD and reported on a Level 1 (licensed insurer) basis. Insurers bear the compliance and data-collection costs; the standard forces system changes for cross-border aggregation, currency conversion and reconciliation with other GRS reports."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-88-of-2023","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-88-of-2023/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-88-of-2023/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-88-of-2023/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-88-of-2023/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-88-of-2023/documents"}}