Regulatory Alerts2019-07-11
Regulation on the Auditing Actuary’s Audit Report
The Austrian Financial Market Authority (FMA) mandates a standardized seven-chapter structure and detailed content requirements for audit reports prepared by auditing actuaries for pension fund investment and risk-sharing groups. The regulation specifies mandatory disclosures regarding beneficiary changes, investment yields, premium and volatility reserves, technical results, and final audit opinions, while requiring electronic PDF/A2 submission and strict compliance verification against statutory provisions and approved business plans. These structural and reporting obligations apply to annual audits with phased implementation dates beginning in 2013 and updated provisions taking effect in 2019.
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