CTHRepealedLegislation
Insurance (prudential standard) determination No. 4 of 2011 - Prudential Standard GPS 311 - Audit and Actuarial Reporting and Valuation: Level 2 Insurance Groups
Special purpose external peer reviewSpecial purpose external peer review
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Special purpose external peer review
- APRA may require any advice or report of the Group Actuary which is prepared in accordance with this Prudential Standard to be subject to peer review by an external actuary.[9] The external actuary appointed to this role, and the scope of the review, is to be agreed with APRA. The external actuary must prepare a report in respect of the review. The review must be completed in accordance with any relevant professional standards and guidance notes. The cost of the review is to be borne by the Level 2 insurance group. The external actuary must submit the report to APRA and the Level 2 insurance group simultaneously within three months of the review being commissioned unless APRA grants an extension of time in writing.