Role of Group AuditorRole of Group Auditor

Role of Group Auditor

4. The parent entity of a Level 2 insurance group must ensure that its Group Auditor:

(a) conducts a limited assurance review of the group’s annual accounts[30];

(b) performs for the group the functions of a Group Auditor set out in this Prudential Standard and any other prudential standard; and

(c) prepares, and gives to the group, any reports required to be prepared by the Group Auditor under this Prudential Standard.

5. The parent entity of a Level 2 insurance group must:

(a) ensure that the reports required to be prepared by the Group Auditor deal with all the matters required by this Prudential Standard to be dealt with in the reports; and

(b) lodge with APRA the reports required to be prepared by its Group Auditor under this Prudential Standard.