The Australian Prudential Regulation Authority (APRA) has released the final reporting standards relating to simplified reporting framework for general insurers, which will be effective for the reporting period ending 30 September 2010 for both quarterly and annual returns.
General insurers will be required to submit some opening balance Australian International Financial Reporting Standards figures to assist in APRA’s preparation and publication of statistics, the regulator said.
This additional data is specified in the transitional reporting standard released yesterday, and is required to be reported to APRA by 30, September 2010 — 20 business days before the first new quarterly reporting is due.
The final reporting standards and accompanying forms and instructions are now available on APRA’s website.
