Financial Sector (Collection of Data) (reporting standard) determination No. 28 of 2009 - GRS 450.0_G (2009) - Interest in Controlled Entities, Associates and Joint Ventures
(9) Region (for which Gross Assets and G(9) Region (for which Gross Assets and Gross Liabilities are reported)
Start here
Get a plain-English read of (9) Region (for which Gross Assets and G
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 28 of 2009 - GRS 450.0_G (2009) - Interest in Controlled Entities, Associates and Joint Ventures.
(9) Region (for which Gross Assets and Gross Liabilities are reported)
Report the region which most appropriately reflects the location of the gross assets and gross liabilities of the associate or joint venture.
For prudential reporting purposes ‘Australian business’ is as defined in GPS 001.
International business, as defined in GPS 001, is to be reported according to the following geographical regions:
- New Zealand;
- South East Asia;
- Asia Pacific;
- USA
- Americas;
- UK/Europe; and
- Other.
Once regions are defined, they should generally be maintained thereafter for consistency. However, this does not prevent the Level 2 insurance group from altering its reporting regions where necessary, provided APRA is notified of any change.