Financial Reporting Recommendations and Interpretations

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ACTUARIAL STANDARDS OF PRACTICEFinancial ReportingRecommendations and InterpretationsAdopted by the Board of Directors of theAmerican Academy of ActuariesReprinted 2000(Doc. No. 067)iiiT A B L E O F C O N T E N T SIntroductionivStatement Respecting the Structure and the Procedures ofFinancial Reporting Recommendations and InterpretationsivRECOMMENDATION 7: Statement of Actuarial Opinion forLife Insurance Company Statutory Annual Statements1Interpretation 7-A: Responsibilities of the Actuary and Others5Interpretation 7-B: Adequacy of Reserves6Interpretation 7-C: Qualification of Actuary s Statement of Opinion7RECOMMENDATION 9: Materiality8Interpretation 9-A: Materiality, Typical Users9Interpretation 9-B: Materiality, Quantitative Considerations10Interpretation 9-C: Materiality, Qualitative Considerations11RECOMMENDATION 11.

the Financial Reporting Recommendations and Interpretations. The following recommendations and interpretations have been replaced by actuarial standards of practice (ASOPs) and actuarial compliance guidelines (ACGs). • Recommendation 1 has been replaced by ASOP No. 10.

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