The Australian Prudential Regulation Authority (APRA) is updating the reporting schedule for Reporting Standard ARS 115.0 Capital Adequacy: Standardised Measurement Approach to Operational Risk (ARS 115.0) to simplify reporting requirements.
APRA released the final operational risk requirements for ADIs in Prudential Standard APS 115 Capital Adequacy: Standardised Measurement Approach to Operational Risk (APS 115) in December 2019. The final reporting requirements in ARS 115.0 were released in March 2021.
After further discussion with the industry, APRA is revising the reporting frequency for the reporting standard from quarterly to annually. Submissions for this reporting standard will now be due 3 months and 35 days after the end of the ADI’s financial year.
APRA is also updating the reporting standard to clarify that that the first submission for each ADI should include data for the current and two preceding financial years.
Clean and marked up versions of the reporting standard accompany this letter.
Cross-Industry Insights and Data Division
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