For financial reporting purposes, the client is responsible for the assumptions; from the actuary’s perspective, the assumptions are “prescribed.” Yet clients often look to actuaries for advice and consultation – perhaps even recommendations – regarding the selection of assumptions. And the public may look to the actuary as the responsible expert, thinking that any assumptions used in an actuarial analysis are considered reasonable by the actuary. This program will explore the perspectives of the actuary and the client in the assumption setting process.

Speakers