Australia: Minor Changes Made to Reporting Standards
By Sarah Si | March 20, 2025
The Australian Prudential Regulation Authority (APRA) has announced minor revisions to several reporting standards. These changes aim to align with the APRA Connect taxonomy and clarify existing reporting requirements.
The updated reporting standards include:
- SRS 101.0 Definitions for Superannuation Data Collections
- SRS 553.0 Investment Exposure Concentrations and Valuations
- SRS 606.0 RSE Profile
The updated standards are available on the APRA website. APRA serves as the prudential regulator for the financial services sector, overseeing banks, insurance companies, and other financial institutions. The adjustments are designed to streamline reporting and improve data consistency within the industry.
APRA is the prudential regulator for a wide array of financial institutions including:
- Banks
- Mutuals
- General insurance and reinsurance companies
- Life insurance providers
- Private health insurers
- Friendly societies
- Most members of the superannuation industry
