Valuations reports underpin the audit evidence for pension and OPEB amounts recorded by governments. This session is intended to improve an auditor’s understanding of what (or what should be) included and what to be on the lookout for when reviewing and evaluating reports.
Evaluate the information provided in the accounting valuation
Contrast an accounting valuation from a funding valuation
Assess the assumptions used
Interpret the recommended steps to auditing the valuation, outlined in the AICPA State and Local Audit Guide