Amendments to Prudential Standard SPS 310 Audit and Related Matters
This page contains APRA's consultations on amendments to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).
January 2024
On 17 January 2024, APRA released a letter to RSE licensees and RSE auditors, consulting on minor and consequential amendments to the superannuation prudential framework. The proposed amendments will impact SPS 310, SPS 510 and SPS 520, and can be viewed at: Audit consequential amendments – superannuation.
December 2022
On 7 December 2022, APRA released a letter to industry on the updated Prudential Standard SPS 310 Audit and Related Matters (SPS 310), along with the final version of SPS 310.
The amendments to SPS 310 are minor and must be implemented within the scope of audits for the financial year ending 30 June 2023 onwards.
The letter to industry and updated SPS 310 can be found below:
Letter
Release of updated standard for audit
Prudential standard
June 2022
On 9 June 2021, APRA released a response letter on its proposed amendments to SPS 310 published for consultation on 10 December 2021.
In the letter published today, APRA has considered the feedback received from industry regarding timing and it has decided to delay the commencement of the proposed amendments to the financial year ending 30 June 2023.
APRA will provide a further update on any refinements when it finalises SPS 310 later in 2022.
The letter to industry and non-confidential submissions are available below:
Letter
Response to submissions - Minor amendments to Prudential Standard SPS 310 Audit and Related matters
Non-confidential submissions
December 2021
On 10 December 2021, APRA released for consultation its proposed amendments to Prudential Standard SPS 310 Audit and Related Matters (SPS 310) to align with changes to APRA’s reporting standards for superannuation.
APRA will consult on these amendments for three months, with submissions due by 11 March 2022.
The letter to industry is available below:
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.
Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.