Prudential Standards (1)
This Prudential Standard sets out the roles and responsibilities of a life company’s Auditor. It also sets out the obligations of a life company to make arrangements to enable its Auditor to fulfil his or her responsibilities. The ultimate responsibility for providing impartial advice in relation to the operations, financial condition and internal control of a life company rests with the Auditor. This advice is designed to assist the Board and senior management in carrying out their responsibility for the sound and prudent management of the life company.