Minimize the audit risks for you and your client.
- Have you assessed the risk involved in reviewing actuarial reports and relying exclusively on the specialist that produced the report?
- What effect would it have on your audit if the liabilities or expense were valued with inappropriate assumptions, causing the results in a future year to vary dramatically?
- Does the actuary that produced the report walk you through the complexities of the rules so that you thoroughly understand how they impact your client and you as the auditor?
- Are you familiar with how assumptions are set for pension and Other Post-Employment Benefit (“OPEB”) plans?
- How do you explain Financial Accounting Standards Board accounting rules related to your clients’ financial statements?
- How have the Governmental Accounting Standards Board No. 43 and No. 45 (GASB 43 and GASB 45) accounting rules affected your clients’ financial statements?
see Defined Benefits
see Private OPEB
see Public OPEB
see Active Healthcare
