Description: In September 2017, the China Insurance Regulatory Commission (CIRC) issued the “C-ROSS Phase II project construction plan”, planned to be used across three years’ time, by perfecting the regulations, improving the operational mechanism and strengthening the regulatory cooperation.

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.