Insurance (prudential standard) determination No. 8 of 2008 - Prudential Standard GPS 220 - Risk Management
Financial Information DeclarationFinancial Information Declaration
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Financial Information Declaration
- An insurer must provide to APRA a declaration on financial information (Financial Information Declaration) signed by:
(a) the chief executive officer (CEO) (by whatever name called, or for a Category C insurer, the local equivalent); and
(b) the chief financial officer (CFO) (by whatever name called, or for a Category C insurer, the local equivalent).
This declaration is set out in Attachment C. Where the CEO and the CFO are the same person, the Financial Information Declaration must be signed by that person and another person to be agreed upon with APRA.
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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 according to reporting standards made 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.