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Application provision

1.1 Unless otherwise stated, this Part applies: 

  1. (1) to a UK Solvency II firm that is not a small firm for external audit purposes;
  2. (2) to the Society in accordance with General Application 3; and 
  3. (3) at the level of a group, that is not a small group for external audit purposes, to which Group Supervision 2.1(1) or 2.1(2) applies and where the PRA is the group supervisor, to a relevant insurance group undertaking; and 
  4. (4) to an external auditor of such a firm or group.

2.1

10/09/2016

A firm or a relevant insurance group undertaking must ensure that the external auditor provides a report which includes an opinion about the relevant elements of the SFCR in accordance with 4.

2.2

10/09/2016

The relevant elements of the SFCR are: 

  1. (1) Subject to (3), (4) and 4.2, the information that a firm and a group discloses pursuant to Article 296, 297, and 359(d) and (e) of the delegated act
  2. (2) Subject to (3), (4) and 4.2 and where appropriate, the following templates that are provided in the SFCR Implementing Technical Standard
    1. (a) S.02.01.02 
    2. (b) S.12.01.02 
    3. (c) S.17.01.02 
    4. (d) S.22.01.21 
    5. (e) S.22.01.22 
    6. (f) S.23.01.01 
    7. (g) S.23.01.22 
    8. (h) S.25.01.21 
    9. (i) S.25.01.22 
    10. (j) S.28.01.01 
    11. (k) S.28.02.01 
    12. (l) S.32.01.22
  3. (3) Where the information in 2.2(1) and 2.2(2) is, or derives from, the SCR that information shall only be subject to external audit for firms calculating their SCR using the standard formula
  4. (4) Where the information in 2.2(1) and 2.2(2) is, or derives from, the group SCR that information shall only be subject to external audit for relevant insurance group undertakings calculating their group SCR using the standard formula.