Regulatory Alerts2021-03-15
Added
Amendments to Reports of Auditors in Insurance Returns
The Monetary Authority of Singapore issued Circular No. ID 05/21 to implement amendments to the Independent Auditor's Report and Supplementary Report across five key insurance return legislations. These changes align the reporting requirements with recent revisions to the Singapore Standards on Auditing following consultation with the Institute of Singapore Chartered Accountants. The amendments take effect on 16 March 2021 and apply to insurers, Lloyd’s Asia Scheme Administrators, captive insurers, special purpose reinsurance vehicles, and marine mutual insurers.
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