Financial Sector (Collection of Data) (reporting standard) determination No. 27 of 2007 - LRS 400.0 - Statement of Policy Liabilities
Basis of preparationBasis of preparation
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Basis of preparation
In completing this form, unless specifically stated otherwise, institutions are to follow the basis that is used for the preparation of the annual financial statements in accordance with the Australian accounting standards.
Actuarial valuations and calculations included in, or used in the preparation of, the form must be in accordance with APRA and other prudential standards.
If additional clarification is required for specific items in this form, reference should be made to the section ‘Instructions for specific items’ below, which is provided as a guide.
For the purposes of reporting under this form, contracts are to be classified in accordance with Prudential Standard LPS 350 Contract Classification for the Purpose of Regulatory Reporting to APRA.