What are they looking for exactly? I get the impression the magic formula includes: 1. Writing between 4-6 pages in size 12. 2. Beginning with a workbook overview with some forward/backward signposting. 3. Having headings for each worksheet and one sentence worksheet summary. 4. Describing under each heading the main features e.g. rows/columns of the worksheet. 5. Describing the mathematics inside without reference to an Excel function. 6. Describing the assumptions made in each worksheet in an explicit paragraph. 7. Describing the reasonableness checks made and automated checks present in each worksheet. 8. Including any additional observations or decisions e.g. altered data explicitly. Is this about right? I wish ActEd would make it more explicit. Also, a colleague said he wrote two audit trails; one for the student, one for the senior actuary. Any thoughts on this?
