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Circular No 69
General PHIAC Circulars
Circular No 69
Contact Officers:
Gary Kennedy (02) 6285 3133
Dru Dietz (02) 6285 3131
6 February 1998
REINSURANCE AUDIT ARRANGEMENTS 1997-1998
Registered organisations are reminded of the requirement for reinsurance transactions to be audited by external auditors for the four quarters to 30 June 1998.
Due to the changes to the health insurance arrangements and consequential changes to the PHIAC 1 return, Council arranged for the audit program to be revised by Coopers and Lybrand.
Two copies of the revised program are provided to registered organisations with additional copies being available from PHIAC Secretariat if required.
Organisations must ensure that their external auditors adopt the program for the 1997-98 year, unless an auditor is specifically exempted by the Commissioner from the application of the program on the grounds that an alternative program adopted by an auditor achieves an equally satisfactory outcome. In applying for exemption, the auditor must provide adequate detail of the alternative program to satisfy the Commissioner that such exemption should be granted.
The required format for the audit certification that recognises the requirements of this circular is attached. Click here to view the audit certificate.
Audit certification for the four quarters to 30 June each year must be provided within three months of the end of the financial year or such time as approved by the Commissioner. Please ensure that the certificate for the 1997-98 year reaches the PHIAC Secretariat by 30 September 1998.
PHIAC 1 returns can now be sent by email - phiac@phiac.org.au
PHIAC welcomes funds who wish to send their PHIAC 1 returns by email rather than on diskette. Returns sent by email should be saved as Excel v.5 or Lotus 123 v.3, and sent as an attachment to the email. Please note that PHIAC still requires the hardcopy signed by the Public Officer.
A printed copy of the new PHIAC 1 front page for Public Officer certification reflecting our change of address is enclosed. Click here to view the PHIAC 1 front page.