GRCStandard

SPS 310

Prudential Standard SPS 310 Audit and Related Matters

Prudential Standard SPS 310 establishes requirements for conducting audits and related matters for the superannuation industry in Australia. It ensures compliance with financial reporting and auditing practices in accordance with regulatory standards.

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Overview

The Prudential Standard SPS 310 Audit and Related Matters is issued by the Australian Prudential Regulation Authority (APRA) and focuses on audit standards and practices for superannuation entities. The standard seeks to ensure consistent and high-quality auditing processes, financial reporting, and effective governance within the superannuation system. Minor and consequential amendments were made in line with changes to the Treasury Laws Amendment (2022 Measures No. 4) Act 2023. These updates align with contemporary best practices and are applicable starting 30 June 2024. Additional changes were made to related standards such as SPS 510 Governance and SPS 520 Fit and Proper, as well as the corresponding Prudential Practice Guide SPG 520.

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