Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held May 16-17 in New York. The panelists, consisting of certified public accountants, discuss the objectives of the independent audit, the auditor’s report, independence issues, generally accepted auditing standards, ‘GAAS,’ the role of the American Institute of Certified Public Accountants, ‘AICPA,’ and the Insurance Companies Committee, “ICC,” and relationships with other bodies, including the Financial Accounting Standards Board, ‘FASB,’ the Securities and Exchange Commission, ‘SEC,’ and the Society of Actuaries/American Academy of Actuaries. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 2.

Description: From the Record 1991 Vol. 17, No. 1, this is the keynote presentation from the Society of Actuaries 1991 Regional Meeting, held in New Orleans April 18-19. The speakers discuss the increasing importance of the asset side of the balance sheet in looking at the reserves and overall solvency of a life insurance company, and the outlook for an increase in responsibilities and liabilities for the actuary in the 90s.