FRC publishes feedback on the actuarial aspects of insurance company audits
News types: Company Specific, Corporate Reports, Generic Announcement, Guidance, Inspection, Policies and Responsibilities, Statements
Published: 18 May 2022
The FRC has today published a letter to the Insurance Business Unit leaders at the largest eight audit firms in the UK, setting out feedback on the actuarial aspects of insurance company audits.
This feedback was based on a number of recent reviews performed by the FRC, and focuses on professional scepticism, the audit file containing the evidence of the audit, and the interaction between the audit firm and the insurance company during the audit.
The letter is available here .
This feedback was based on a number of recent reviews performed by the FRC, and focuses on professional scepticism, the audit file containing the evidence of the audit, and the interaction between the audit firm and the insurance company during the audit.
The letter is available here .