The auditor of SS Ltd. accepted the gratuity liability valuation based on the certificate issued by a qualified actuary. However, the auditor noticed that the retirement age adopted is 65 years as against the existing retirement age of 60 years. The company is considering a proposal to increase the retirement age. Comment. SIR COULD YOU PLEASE JUST SPECIFY WHICH SA DOES THIS QUESTION PERTAIN TO.

1 answer

Ravi Staff March 23, 2017

if actuary is appointed for accounting help then it is management expert covered under SA 500
and if appointed by auditor then under 620
if problem is silent take suitable assumption and specify it

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