Consultation has begun on a package of minor updates to the prudential and reporting framework.

“This annual process is intended to maintain the clarity, accuracy and usability of … requirements, without changing underlying policy or reporting settings,” the Australian Prudential Regulation Authority said.

Feedback on proposed changes to 10 prudential and reporting standards and two practice guides must be submitted by August 21.

The authority says the updates “resolve ambiguity, address feedback from industry, and ensure APRA continues to receive consistent and high-quality information to support supervision.

“The changes do not introduce new policy requirements or materially alter existing obligations. Rather, they are intended to improve the operation of the existing framework.”

APRA expects to finalise the updates in November and implement them next year.

Find details here.