Guidelines on the Differential Premium Systems - PIDM

Ref No DI/GL2-A1/2011(DPS) Issued on 4 March 2011TITLE<strong>Guidelines</strong> on The Differential Premium SystemsSECTION 5:REPORTING MANUAL AND FORMS5.1. GENERAL REQUIREMENTS5.1.1 A member is required to complete the submission based on a member’s relevantfinancial statements as at 31 December of each preceding assessment year. Thefinancial statements shall be referred to the following:(a) For a member with 31 December financial year end: annual financialstatements;(b)(c)For a member with non-31 December financial year end: interim financialstatements; orFor a member with non-31 December financial year end and the interimreporting period does not end in December: management accountsvalidated by the external auditor.5.1.2 A member’s CEO and CFO must certify that the quantitative information is accurateand reflective of the financial condition of a member as at 31 December of thepreceding assessment year. (Please refer to paragraph 4.2.2 for further explanation)5.1.3 A member must submit the certified quantitative information (hard copy and softcopy in pre-formatted template) to PIDM latest by 30 April (or earlier if 30 April isfalls on national public holiday) of each assessment year. A member’s submission ofcertified quantitative information shall be made by hand to PIDM’s office.5.1.4 All quantitative information in the pre-formatted templates (conventional andIslamic) refer to the members’ annual financial statements, interim financialstatements or management accounts validated by external auditor except forquantitative information for asset concentration criterion, where it shall makereference to the BNM’s FISS.5.1.5 Any restatement made to a member’s previous year financial information shall bereflected in the submission of quantitative information to PIDM. However, themember’s previous year DPS score will not be amended.Page 27