Description: In this session 2PD of the 2004 Valuation Actuary Symposium panelists share their perspectives on valuation-actuary-related issues, including the hot issues from a regulatory concern.

Description: This presentation is a panel discussion, session number 26PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The Enron scandal is likely to result in a more transparent disclosure of balance sheet liabilities. The panelists provide a professional/legislative update and offer pragmatic tips to valuation actuaries about how to respond effectively to increased scrutiny. They discuss the Corporate Accountability Act and the increased oversight of the accounting profession that will result, and the implications for actuaries working in accounting firms. They emphasize the importance for actuaries to be aware of the higher standards of independence and the need to follow actuarial standards of practice. Discussion from participants is included.