The Australian Prudential Regulation Authority (APRA) has released an update to all registrable superannuation entity (RSE) licensees on the revocation of superannuation reporting standards.
The letter released today follows APRA's commitment to reduce duplicate reporting and reporting burden, as communicated in the Superannuation Data Transformation (SDT) Phase 2 Response Paper released in August 2022. The letter also includes details of an exemption for reporting under a superannuation reporting standard.
In addition, APRA has updated an existing FAQ on the reporting standards revocation and added a new FAQ on SRS 332.0 Expenses (SRS 332.0), together with a revised SRS 332.0 worked example to the SDT frequently asked questions page.
The letter to industry is available on the APRA website at: Update to revocation of superannuation reporting standards.
The updates to the superannuation data transformation FAQs are available on the APRA website at: Frequently Asked Questions - Superannuation Data Transformation.
