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Superannuation Circulars, Guidance Notes and Other Guidance

Copies of these superannuation circulars are now available from this web page in PDF format.

What's new
Approved Form - Audit Report Last updated: 28 February 2013 APRA has released an approved form titled Audit Report under SIS Act (pdf version with Notes) for reporting periods commencing on or after 1 July 2012. Please note that the Approved Form Audit Report has been revised to accommodate the following changes: Removal of Part 3 of the form - (Independent Auditor's Review report on future compliance with RMS and RMP). This change recognised the practical difficulty for auditors in reviewing future compliance at a time when significant new requirements take effect and many RSE licensees will be in the early stages of transitioning to updated risk management frameworks as required under SPS 220 Risk Management; and Short Form PDS - incorporation of new provisions under the Corporations Act 2001 for the shorter PDS regime for superannuation products, which came into effect on 22 June 2012.

What's new

Approved Form - Audit Report Last updated: 28 February 2013

APRA has released an approved form titled Audit Report under SIS Act (pdf version with Notes) for reporting periods commencing on or after 1 July 2012.

Please note that the Approved Form Audit Report has been revised to accommodate the following changes:

Removal of Part 3 of the form - (Independent Auditor's Review report on future compliance with RMS and RMP). This change recognised the practical difficulty for auditors in reviewing future compliance at a time when significant new requirements take effect and many RSE licensees will be in the early stages of transitioning to updated risk management frameworks as required under SPS 220 Risk Management; and
Short Form PDS - incorporation of new provisions under the Corporations Act 2001 for the shorter PDS regime for superannuation products, which came into effect on 22 June 2012.

Superannuation Guidance Notes (SGN No:)	Title
SGN 130.1	Outsourcing

Superannuation Prudential Practice Guides (SPG No.)	Title
SPG 110	Capital
SPG 200	Risk management
SPG 230	Adequacy of resources
CPG 233	Pandemic planning and risk management
CPG 234	Management of security risk in information and information technology
SPG 270	Contribution and benefit accrual standards for regulated superannuation funds
SPG 280	Payment standards for regulated superannuation funds and approved deposit funds
SPG 520	Fitness & Propriety

Superannuation Circular No.	Title
Cross Industry
Cross Industry Circular No. 1	Custodian Requirements for APRA Supervised Entities
Members
I.A.2	Section 64 of SIS - Prompt Remission of Contributions
I.B.1	Protection of Member Benefits
I.C.1	Minimum Benefits Standards
I.C.4	Equivalent Rights for Members in Successor Fund Transfers
Trustees
II.B.1	Payments to Employer Sponsors
II.D.1	Managing Investments and Investment Choice
II.D.2	Lending and Provision of Financial Assistance to Members of Superannuation Entities
II.D.3	Acquisition of Assets from Related Parties
II.D.4	Borrowing by Superannuation Entities
II.D.5	Investments to be on an Arm's Length Basis
II.D.6	In-House Assets
Funds
III.A.1	Election to become a Regulated Superannuation Fund for Funds Regulated by APRA
III.A.2	Trustee Arrangements for Superannuation Funds other than Public Offer Funds
III.A.3	Trustee Arrangements - Public Offer Superannuation Funds
III.A.4	The Sole Purpose Test
III.A.5	What are Public Offer Entities?
III.A.6	Winding-Up a Superannuation Fund
III.E.1 Clarification:	Regulation of Small APRA Funds Requirements for Financial Statements of Small APRA Funds (SAFs)
Auditors
Approved Form	Audit Report under SIS Act (for reporting periods commencing on or after 1 July 2012)
APRA Requirements & Procedures
V.A.2	Financial Reporting
V.D.1	Guidelines for Determination of Timing of Actuarial Investigation Under Part 9

Other Guidance
Unit pricing guide to good practice
How to reduce the risk of fraud - A best practice guide for trustees
Superannuation Fraud - Checklist for Trustees

Superseded superannuation guidance material
These pages contain guidance material that are no longer current.