The scope of the peer review is typically discussed and agreed upon by the issuing actuary and the peer reviewer prior to the peer review. [...] While the objectives of a peer review may vary, peer review of a work product often focuses on the following items: • The solution design and analysis, and whether it is appropriate for the project • The underlying data and calculations • The underlying assumptions, methods, and models • The reasonableness of results and trends, especially compared to prior results and trends • The review of subje. [...] Beyond enhancing the work product quality, an objective review would likely be welcomed by the principal to the engagement and may increase the confidence of the principal in the work product. [...] Whether the optimal timing is achievable depends on several factors, including when the issuing actuary receives the data required to perform the work, the issuing actuary’s workload, when the draft work product is submitted to the peer reviewer, the peer reviewer’s workload, and the deadline(s) for the project. [...] Peer review can give the issuing actuary and the principal confidence that the work product is of high quality and meets the standards set by the actuarial profession.
- Pages
- 14
- Published in
- United States of America
