The Australian Prudential Regulation Authority (APRA) has written to companies it regulates seeking their co-operation in continuing to report the financial results of any parent companies – even if they don’t have to.

Executive GM Policy, Research and Statistics Charles Littrell says in a letter to the companies’ CEOs that complete and properly annotated financial statements “are important inputs to APRA’s prudential supervision”.

A recent amendment to the Corporations Act which came into effect on June 28 has removed the requirement for companies to include full unconsolidated parent entity financial statements in their group annual financial reports.

But Mr Littrell says full parent entity financial statements of APRA-regulated companies must still be presented.

“APRA needs to understand the ability of the parent entity to meet its obligations and support depositors and policyholders, on a stand-alone as well as a consolidated basis,” he says in the letter. “We wish to fully understand the financial position and risks of the parent.”

All Australian financial services (AFS) licensees are required to lodge a full set of non-public financial statements, including notes, with the corporate regulator, the Australia Securities and Investments Commission (ASIC).

A small number of APRA-regulated parent entities are not AFS licensees, and under the Act may choose not to produce full parent entity financial statements.

But Mr Littrell says APRA wants to receive the same data that ASIC gets, although he won’t take action against groups that don’t provide it.

However, he says APRA is prepared in certain circumstances to “exercise its statutory powers” to receive the data.