The Australian Prudential Regulation Authority (APRA) has released a consultation package on proposed revisions to its requirements for the external auditor of an authorised deposit-taking institution (ADI).

APRA is proposing to amend Prudential Standard APS310 Audit and Related Arrangements for Prudential Reporting to take account of changes in ADI group structures, developments in audit-related prudential standards applied to other APRA-regulated institutions and, importantly, changes in ADI prudential reporting requirements flowing from the introduction of the Basel II Capital Framework in Australia.