Insurance (prudential standard) determination No. 1 of 2006 - Prudential Standard GPS 220 - Risk Management
Financial Information DeclarationFinancial Information Declaration
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Financial Information Declaration
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An insurer must provide to APRA a declaration on financial information (Financial Information Declaration) signed by the chief executive officer (CEO) (by whatever name called, or for a foreign insurer, the local equivalent) and the chief financial officer (CFO) (by whatever name called, or for a foreign insurer, the local equivalent). This declaration is set out in Attachment B to this Prudential Standard.
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The Financial Information Declaration must be submitted to APRA on, or before, the day that the insurer’s yearly statutory accounts are required to be submitted to APRA under the Collection of Data Act.
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If the CEO or CFO qualifies the Financial Information Declaration, the qualified Declaration must include a description of the cause and circumstances of the qualification, and steps taken, or proposed to be taken, to remedy the problem.