Actuarial

Actuarial review support for audit teams

Finbryn provides actuarial review support for audit teams testing a client's pension, retiree medical, IBNR or reserve estimate: data tie-outs, reasonableness tests and a written review file under AU-C 620, prepared for signature by your firm's own actuary or a credentialed actuary your firm engages. Checked 2026-10-16 against the AICPA's published AU-C text.

What is included

• Independence and conflict check recorded in the engagement letter
• Data tie-out to payroll, retiree, claims and ledger records, with an exceptions list
• Assumption and method benchmarking memo
• Independent recomputation or second-method estimate with a range
• Review note prepared for signature by the firm's own or engaged actuary, written for the engagement team

The process

1. 1.

   Run the independence check

   Confirm in writing that Finbryn did not prepare the estimate or its inputs for this engagement, and ask about interests and relationships the way AU-C 620 paragraph .A21 describes.

2. 2.

   Agree the scope with the engagement partner

   Set the nature, scope and objectives, the roles of the firm and the reviewer, how you'll communicate, and confidentiality, the four matters in paragraph .11.

3. 3.

   Tie out the data

   Reconcile the client's census, claims or loss runs to payroll, retiree lists and the ledger, and return an exceptions list.

4. 4.

   Test assumptions and recompute

   Benchmark the key assumptions and rebuild the figure from the client's inputs, adding a second method where the estimate rests on one.

5. 5.

   Draft the review note

   Set out findings, differences from the client's figure, the range we can support and the questions still open with management.

6. 6.

   Your firm's actuary reviews and signs

   Your firm's own actuary or a credentialed actuary your firm engages, who meets the US Qualification Standards, reviews the file and signs the note; the engagement letter names that person.

7. 7.

   The firm evaluates adequacy

   The engagement team judges whether the work is adequate for its purposes under paragraph .12 and decides how to use it.

Software

Microsoft Excel, Python, R

Contact

+1 (312) 313-7376
hello@finbryn.com
finbryn.com
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