Fall 2013 Q25
One of my responses to Fall 2013 Q25 was that the presentation/accounting basis of the reserves was not stated, but I do not see this mentioned at all in the examiner's report. I see in Fall 2018 Q23 a similar issue was addressed, but that problem mentions that reserves were prepared using SAP, while there is no such statement here. Does the statement "as shown in the Annual Statement of the Company as prepared for filing with federal regulatory officials" implicitly suggest that SAP was used (once corrected to "state" instead of "federal")? Or is there another reason for this exclusion I'm missing?
Comments
One comment I will make right off the bat is that the Examiner's Reports do not always show all possible correct answers.
I did not go back to verify, but I would be willing to bet that the SAO instructions on this have changed since 2013 - they are always being tweaked. Under current COPLFR, I presentation/accounting basis should be disclosed in the SCOPE section.
That would make sense. Thank you!