The Australian Prudential Regulation Authority (APRA) has directed Sureplan Friendly Society Limited (Sureplan) to rectify the incorrect capital treatment of one of its assets. Sureplan is a mutual friendly society based in Brisbane with approximately 30,000 members and $160m in assets. It offers funeral expense products. The matter was brought to APRA's attention by an independent auditor conducting a Special Purpose Engagement 1 (SPE) for the purposes of validating actuarial calculations and assessing the robustness of processes for reporting data to APRA.

https://www.miragenews.com/apra-orders-sureplan-society-to-rectify-data-1057545/

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