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  • AA-3 AA-3 Auditor Reports

    • AA-3.1 AA-3.1 Review of Annual Returns

      • AA-3.1.1

        Insurance licensees must arrange for their auditor to review the licensee's annual return to the CBB. The auditor must complete the prescribed form Agreed Upon Procedures (refer to Part B, Supplementary Information Appendices BR(i) and BR(ii)) attesting to his/her review, which must be submitted to the CBB by the insurance licensee within four months of the financial year end of the insurance licensee.

        Amended: January 2007
        Amended: October 2007

      • AA-3.1.2

        Insurance firms are required to submit an Insurance Firm Return (Form IFR). Insurance intermediaries and insurance managers are required to submit the Insurance Intermediary and Manager Return (Form IMR). Further details on the annual returns and other reporting requirements of the CBB, including the precise scope of the auditor's review and attestation, are contained in Module BR (CBB Reporting).

        Amended: January 2007

    • AA-3.2 AA-3.2 Report on Compliance with Financial Crime Rules

      • AA-3.2.1

        Insurance licensees must arrange for their external auditor or a consultancy firm approved by the CBB as per Paragraphs FC-3.3.2 and FC-3.3.2A, to report on the insurance licensee's compliance with the requirements contained in Module FC (Financial Crime), at least once a year.

        Amended: October 2012
        Amended: October 2007
        Adopted: January 2007

      • AA-3.2.2

        The report specified in Paragraph AA-3.2.1 must be in the form agreed by the CBB, and must be submitted to the CBB within six months of the licensee's financial year-end.

        Amended: July 2021
        Adopted: January 2007

      • AA-3.2.3

        Further information on the above requirement can be found in Section FC-3.3.

        Adopted: January 2007
        Amended: October 2007