The Australian Prudential Regulation Authority (APRA) has published four new updated frequently asked questions (FAQs) on the Australian Accounting Standards Board (AASB17) collections.
The changes include instructions in the 'Access' section for external auditors for insurers who wish to gain access to APRA Connect.
The AASB17 FAQs are available on the APRA website at: APRA Connect support material.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members.