Insurance (prudential standard) determination No. 5 of 2014 - Prudential Standard GPS 310 - Audit and Related Matters
Limited assurance review reportLimited assurance review report
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Limited assurance review report
- The parent entity of a Level 2 insurance group must ensure that its Group Auditor prepares a report on an annual basis and provides that report to the group by the time specified in paragraph 13 of this Attachment. The report must:
(a) be addressed to the Board of the parent entity of the group; and
(b) provide the Group Auditor’s opinion on a range of matters.
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Preparation of the report must be consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of this Prudential Standard. The parent entity of a Level 2 insurance group must ensure that its Group Auditor bases this report on at least a limited assurance engagement.
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The parent entity of a Level 2 insurance group must ensure that its Group Auditor specifies in the report the results of their investigations, including the matters listed at Attachment C.