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Dear Sir, my question is if under IAS 19 does the company have to hire a professional actury, or the company can calculate provision on its own, just using some kind of actuarial assumptions?
The standard states that actuarial assumptions should be unbiased. If the services of an independent actuary are not used, and the company prepares its own assumptions, how could that be unbiased.
What’s the problem with engaging the services of an actuary? The cost is hardly likely to break the bank!
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