Froogle | ASOP 4 | Commentary to Section 4

Section 4.1, Required Disclosures in an Actuarial Report
Comment	Response
Two commentators suggested adding ASOP No. 56 to the list of ASOPs in section 4.1.	The reviewers note that guidance on ASOP No. 56 was added to section 3 and, therefore, was added to the list of ASOPs in section 4.1
One commentator suggested inserting “significant” before “assumptions” in section 4.1(k).	The reviewers agree and modified the language in response to this comment.
One commentator objected to the requirement in section 4.1(o)(1) that the rationale for the selection of the discount rate be disclosed.	The reviewers believe the guidance is appropriate and made no change.
One commentator suggested that the disclosure requirement in section 4.1(o)(5) be deleted as it is entirely unclear what the ASB expects the actuary to disclose in response to this requirement.	The reviewers disagree and made no change in response to this comment. The reviewers note that the guidance in section 3.11 states, “The actuary should use professional judgment to determine the appropriate commentary for the intended user.”
While one commentator appreciated the elimination of the second exposure draft’s section 4.1(v) from the third exposure draft, the commentator stated the associated additions to section 4.1(aa) were equally, and unnecessarily, burdensome.	The reviewers disagree and made no change. The reviewers note section 4.1(aa) states that, “the disclosure may be brief but should be relevant to the plan’s circumstances.”