Actuarial Control and Data Review
It is essential that the Professional Practice Guidelines of the American Academy of Actuaries with respect to actuarial control and data review be carefully followed and fully honored. To that end, these rules will be followed by Actuarial Work-Products, Inc:
- The Work-Product should set forth (a) its purpose, (b) the engaging party, (c) the inputted data, (d) its purpose and (e) the qualifications of the actuary and the actuary’s opinion should be in clear and understandable form.
- The actuary, whether the Work-Product has an inked or facsimile signature should be responsible for the accuracy and appropriateness of all Work-Products as well as (b) maintain a permanent copy (readily producible as a hard copy) of such Work-Product.
It is the practice of Actuarial Work-Products, Inc. that it is engaged by the Eligible User to provide an actuarial opinion with respect to a calculation involving (a) submitted data and documentation and (b) computer-generated numerated numerical results. It is the further belief of Actuarial Work-Product, Inc. that the Eligible User is the owner of such Work-Product and is free to do with such work-product as it wishes so long as it is not altered in any way. It is the further belief of Actuarial Work-Products, inc. that no further actuarial services are provided with this Work-Product as respects data/documentation, advisory/consultative or similar unless the engagement terms are modified. The Eligible User accepts this belief in its agreement (whether or not written) with Actuarial Work-Products, Inc.
