Fall 2014 Q 21
In part c, what is the reason for the general disclosures regarding pools not being accepted? I would guess that they are not accepted because they are looking for disclosures that are required specifically because it's work of others, but that doesn't seem likely.
Comments
I meant not likely based on other answers that did get accepted.
I suspect that general pool information wasn't accepted because that information by itself doesn't relate directly to the opinion. For example, just giving the pooling percentages wouldn't tell you anything about the validity of the reserving methods or adequacy of the reserves. The pooling percentages may be part of such calculations, but by themselves don't tell you anything that helps you understand and have confidence in the overall opinion.
(I don't think the reason for not accepting general pool information has anything to do with "work of others" in this case.)
OK, makes sense
This is several years removed from the original post, but would it be correct to say those general disclosures are items disclosed in the SCOPE section, while they asked for items disclosed in the RELEVANT COMMENTS section, therefore the general disclosures weren't accepted answers?
Yes, I believe your statement is correct. Based on the source text, here's a concise summary of the disclosure items for the SCOPE and RELEVANT COMMENTS sections. The relevant comments section is more open-ended because it depends on context, but there are certain things that must be included in the scope section.
SCOPE Section disclosures in the SAO should include:
RELEVANT COMMENTS Section disclosures in the SAO should be reserved for: