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This session will address the auditor’s responsibilities when working with actuaries’ reports and actuarially determined obligations that comprise a component of the financial statements of a defined benefit plan. We will cover how an auditor might test the key actuarial inputs used in an actuarial valuation as well as testing of the underlying census data that was provided to the actuary. The session will also review other common audit tests that may be utilized when working with actuarial reports.
Learning Objectives:
Apply common approaches to testing assumptions by actuaries in the calculations of benefit obligations.
Employ common approaches to testing census provided to actuaries for their use in calculating benefit obligations, including a consideration of how data analytics may assist in this process.