Banking, Insurance, Life Insurance, Health Insurance and Superannuation (prudential standard) determination No. 4 of 2023
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External advisors
- APRA may require an APRA-regulated entity to:
(a) engage, at the expense of the APRA-regulated entity, expert external advisors approved by APRA, to support with any aspect of this Prudential Standard. An APRA-regulated entity must consult with APRA before finalising the terms of engagement, and must ensure that external advisors are available to meet with APRA on request. Reports prepared by external advisors must be provided to APRA and the APRA-regulated entity, including any interim or draft reports; or
(b) support external advisors engaged by APRA to assist in the exercise of APRA’s powers and functions under this Prudential Standard as it relates to the APRA-regulated entity.