Actuary aware of event before or after calculation date?

1
Title
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
Before
After
After
Before
No
Yes
Not treated as subsequent event incorporated
into analysis
No change to report inform auditor
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Yes
Knowledge before or after report date?
Action required correct and communicate
Before
After
Is event Type A or Type B?
Type A
Type B
Action required include effect of event in
estimate of policy liabilities in financial
statements
Disclosure required in notes to financial
statements
2
Case 0
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Before
After
3
Case 1
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Before
After
Not treated as subsequent event incorporated
into analysis
Back 1 Step
4
Case 2a
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Back 1 Step
Did event occur before or after calculation date?
After
Before
After
Before
5
Case 2b
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
After
After
Before
Not treated as subsequent event incorporated
into analysis
Back 1 Step
6
Case 3a
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Back 1 Step
Did event occur before or after calculation date?
Effect of event material?
After
After
Before
No
Yes
7
Case 3b
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
No
Yes
No change to report inform auditor
Back 1 Step
8
Case 4a
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
No
Yes
Back 1 Step
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Yes
9
Case 4b
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
Yes
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Yes
Action required correct and communicate
Back 1 Step
10
Case 5a
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
Yes
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Yes
Knowledge before or after report date?
Back 1 Step
Before
After
11
Case 5b
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
Yes
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Knowledge before or after report date?
Before
After
Back 1 Step
12
Case 6a
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
Yes
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Knowledge before or after report date?
Before
After
Is event Type A or Type B?
Back 1 Step
Type A
Type B
13
Case 6b
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
Yes
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Knowledge before or after report date?
Before
Is event Type A or Type B?
Type A
Type B
Back 1 Step
Action required include effect of event in
estimate of policy liabilities in financial
statements
14
Case 6c
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
After
After
Yes
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Knowledge before or after report date?
Before
Is event Type A or Type B?
Type A
Type B
Back 1 Step
Disclosure required in notes to financial
statements
15
Animated DO NOT DELETE
Subsequent Event Decision Tree
Actuary aware of event before or after
calculation date?
Did event occur before or after calculation date?
Effect of event material?
Before
After
After
Before
No
Yes
Not treated as subsequent event incorporated
into analysis
No change to report inform auditor
Event due to error in data, assumptions,
calculations, and/or methodology?
No
Yes
Knowledge before or after report date?
Action required correct and communicate
Before
After
Is event Type A or Type B?
Type A
Type B
Action required include effect of event in
estimate of policy liabilities in financial
statements
Disclosure required in notes to financial
statements