Asop 23

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Asop 23

ne the appropriateness of the data provided by the investment department and what additional information, if any, is necessary to ensure compliance with ASOP 23, Data Quality.
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¥ Actuary should consider what data to use: current in-force assets, assets available for purchase, future interest rate patterns, strategy for negative cash flows. ¥ Additional information required on the assets: market value, timing of cash flows, quality and liquidity of the assets ¥ Consider the data definitions ¥ Consider the appropriateness of the data for the intended purpose of analysis ¥ Consider the sampling methods ¥ Reviewed the data for reasonableness, consistency and comprehensiveness ¥ Disclose reliance on data by others ¥ Adjust questionable data to improve quality of data ¥ Consider cost and feasibility of alternative data ¥ Actuary is not required to audit the data, determine whether the data is falsified or intentionally misleading, searching for questionable or inconsistent data ¥ If in the actuary's professional judgment it is not necessary to perform a review of data, then the actuary should disclose that a review was not done and disclose any resulting limitation on the use of the actuarial work product
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