Insurance (prudential standard) determination No. 5 of 2014 - Prudential Standard GPS 310 - Audit and Related Matters
ApplicationApplication
Start here
Get a plain-English read of Application
Turn the raw legal text into a practical explanation grounded in Insurance (prudential standard) determination No. 5 of 2014 - Prudential Standard GPS 310 - Audit and Related Matters.
Application
- This Prudential Standard applies to each:
(a) general insurer authorised under the Act (insurer); and
(b) Level 2 insurance group as defined in Prudential Standard GPS 001 Definitions (GPS 001).
Where a requirement applies to a Level 2 insurance group, the requirement is imposed on the parent entity of the Level 2 insurance group.
-
This Prudential Standard includes requirements that apply to all auditors appointed under the Act. These requirements are functions of an auditor for the purposes of paragraph 49J(1)(b) of the Act.
-
This Prudential Standard applies to insurers and Level 2 insurance groups (regulated institutions) from 1 January 2015.