516904a30cf94594979c3c7238c28d19.ppt
- Количество слайдов: 10
CIA Annual Meeting Assemblée annuelle de l’ICA June 29 & 30, 2006 ŸLes 29 et 30 juin 2006 Ottawa, Ontario David Oakden PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA E – 15 Outline • • • Appointment Role and Duties Qualifications External Review External Audit vs ER PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA Appointment • Not CEO, COO or CFO • Notify OSFI in writing • Directors may revoke appointment –AA must submit letter explaining reasons –New AA must review letter PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA Role and Duties • Annual Valuation (AAR) • Financial Condition (DCAT) –Three years –Include actual experience • Report to Directors/Audit Committee • Adverse Condition Report –If necessary PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA Qualifications • Canadian Experience – 3 years in last 6 • CPD up to Date • AA Certificate • No Public Discipline PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA External Review • Objectives –Confidence –Narrowing range –Quality –Educational PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA External Review • Work to be Reviewed –AAR –DCAT • Scope of Review –No detailed calculations –Controls –Procedures PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA External Review • Qualifications of External Reviewer –Same as AA –Sufficient experience • Related to business of company –Independent • Company • AA –May be External Auditor PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA External Review • New Reviewer –Every 6 years • Report –Written • Description of agreed changes –Current report –Future report • Unresolved Issues –Presented to Audit Committee –Available to OSFI PC – 5 Auditor’s Work / Actuary’s Opinion
CIA Annual Meeting Ÿ Assemblée annuelle de l’ICA External Audit vs External Review • External Review –Controls –Procedures –Assumptions –Documentation • External Audit –Detailed Calculations –Results PC – 5 Auditor’s Work / Actuary’s Opinion
516904a30cf94594979c3c7238c28d19.ppt