hi there I have 3 questions 1) who is the audience for the report. Is it always an internal summary? 2) in how much detail do we have to go into the summary. Should we be referring to cells etc in the summary or should that only be in he audit trail. 3) Can we refer to the our colleagues audit trail in our report. For example if you were suggesting some new assumptions that are inherent in the model can you say something like " in addition to my colleagues assumptions stated in the audit trail Thanks
Hi 1. It is aimed at a senior actuary - although make sure you read the question carefully in case it suggests any information needs to be given to anyone else (eg tables to be shown to customers). 2. The summary should be a standalone document. You need to explain what the spreadsheet model does but without referring to individual cells etc. 3. You should include all assumptions in your summary that are relevant. This may be some from the audit trail + some additional ones (you will need to add some to score marks, and should check all the existing ones are relevant given any changes you've made to the model). Sarah
