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Actuaries in Audit Support
Jing Liu June 03, 2019 Posted in: Blog Posts, Audit Support, News
At the end of 2018, the Public Company Accounting Oversight Board (PCAOB) implemented several amendments to their existing standards. One of the changes strengthened requirements for evaluating the work of company specialists. Prior to the change, PCAOB guidelines did not expressly require auditors to evaluate the appropriateness of methods and assumptions used by company specialists. Auditors were merely required to obtain an understanding of the methods and assumptions used. 
Highlights from the CSIA’s 2017 Annual Meeting and Conference
The California Self-Insured Association’s (CSIA) Annual Meeting and Educational Conference took place April 3-4 at the Disneyland Hotel in Anaheim, California. Amid the bustling spring break crowd at, “The Happiest Place On Earth,” the CSIA orchestrated another sold-out event. The multitude of California self-insureds in attendance included (among others) Southern California Edison, Nordstrom and, of course, Disney.
Applied Underwriters’ EquityComp Program under Fire in California
Jing Liu July 12, 2016 Posted in: Blog Posts, Workers’ Compensation
On June 20, 2016, California Insurance Commissioner Dave Jones announced what he called a “precedential decision” in a major workers compensation insurance case between a small employer, Shasta Linen Supplier, and a Berkshire Hathaway company, California Insurance Company (CIC). With this decision, he condemns the way CIC has been doing business with its EquityComp program along with another Berkshire Hathaway company, Applied Underwriters (AU), in California, and effectively declares the EquityComp program void and unenforceable. 
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