Review Date in SCOPE
Is the review date typically just 12/31 of the year for which the SAO is being written? In Fall 2018 #23b, a common error was listed as "paragraph 2 should state the actual date through which information is known, not just the date of this opinion." So, I guess they're saying date of opinion & review date are synonymous in the SCOPE?
Comments
Normally, the financial statement data is through 12/31. The actuary might consider relevant information that becomes available subsequent to that however. According to the source text, acceptable language for that section can indeed just say "date of this opinion" without specifying a date, and the date of the opinion would typically be later than 12/31 because the AA needs time to perform the analysis.
The review date is typically after the valuation date, and both should be included in the scope.
After looking at this again, I believe @katieoc27 is correct and the examiners' report solution for part (b) of 2018-Fall is wrong:
The excerpt from the COPLFR source text I quoted above uses square brackets to indicate that the appropriate date should be substituted:
The examiners' report solution seems to ignore the square brackets but that really doesn't make sense. If you read further down in the examiners' report they actually say a common mistake was stating that an actual date should be substituted instead of just stating "date of this opinion". And I believe the graders deducted points for stating that the actual review date should be included.
It's just common sense that the review should be included in the AA report and the SCOPE section is the most logical place to put it. I've inserted a footnote to the BattleTable here:
The Odomirok text states that if the review date is not explicitly mentioned, it can be assumed that the review date is same as the date of signing the SAO. This is in Page 204 of the text under the SCOPE section