Superannuation (prudential standard) determination No. 3 of 2013 - Prudential Standard SPS 310 - Audit and Related Matters
Special purpose engagementsSpecial purpose engagements
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Special purpose engagements
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APRA may require an RSE licensee, by notice in writing, to appoint an auditor, who may be the existing RSE auditor or another auditor, as specified in APRA’s notice, to provide a report on a particular aspect of the RSE licensee’s business operations, prudential requirements or the risk management framework.
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An auditor appointed for a special purpose engagement must provide limited assurance on the matters upon which the auditor is required to report unless otherwise determined by APRA and advised to the RSE licensee in writing.
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An auditor appointed for a special purpose engagement must submit, within three months of the date of the notice commissioning the report, an auditor’s report simultaneously to APRA and to the Board, unless otherwise determined by APRA.
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An auditor must modify the report referred to in paragraph 26 for breaches relating to the matters upon which the auditor is required to report which, in the auditor’s professional opinion, are material. In forming an opinion as to whether a breach is material, the auditor must refer to relevant AUASB standards and guidance.