Risk management declarations under SPS 220 risk management

APRA has recently received queries on the materiality requirements for the risk management declaration required under SPS 220 Risk Management.

APRA’s position on the Risk Management Declaration under SPS 220 Risk Management is outlined in APRA’s letter to industry dated 1 October 2014 available on the APRA website

• Webpage: https://www.apra.gov.au/letters-notes-and-advice-to-superannuation-entities-and-registrable-superannuation-entity-0
• Letter: Letter: Prudential Standard SPS 220 Risk Management (SPS 220): risk management declaration (dated 1 Oct 2014)

Please note that the position stated in the letter still applies, and APRA will consider its inclusion in the next revision of SPS 220, which will occur as part of the post implementation review work.

Any questions please contact your Responsible Supervisor.

Yours sincerely

APRA