Peer reviewer and AA can't be friends or drinking buddies

im6Candiknowitim6Candiknowit
in OSFI.AA

In the battle cards (mini battle quiz 6, question 4), the answer says that "outside non-work discussion" is not allowed. But I don't think that's what the source article means. It doesn't really state that the peer reviewer and the AA cannot be friends. They can be friends as long as they do not discuss work, but if they do discuss work, it must be in the context of the AA-peer reviewer relationship. Am I correct in assuming this? Or am I way off?

Comments

  • chrisboersmachrisboersma

    Appointed Actuary: Legal Requirements, Qualifications and Peer Review

    It is essential to the integrity of the peer review process that a reviewer be, and be seen to be, objective. The reviewer should, therefore, have no relationship with the insurer or with the AA that would in any way impair objectivity. The reviewer is expected to follow the CIA Standards of Practice as well as any additional OSFI requirement

    The text goes into specifics. However, hiring a "friend" to do your companies audit (or peer review) work, probably not something that look objective. If they become your friend, you should probably start looking for a new peer reviewer.

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