... for these audits are determined. Thereafter current practice is determined for the proportion of audit time spent by the different specialists on audit teams on the audit of the high‐risk components of policy liabilities and the related earnings. When allocating audit staff and establishing continuing professional...

... is customised for listed South African long‐term insurers. Furthermore, the accounting support processes that affect the high‐risk components of policy liabilities and the related earnings of these insurers are identified. The generic value chain and list of accounting support processes developed in this study...

...S.P.J. von Wielligh As a result of the significant influence of actuaries on policy liabilities and the related earnings in the financial statements of a listed South African long‐term insurer, auditors encounter a number of key issues and considerations relating to the incorporation of actuarial...

...” that had been specifically developed as part of this research. The research indicates that policy liabilities and operating profit from long‐term insurance activities are potentially exposed to a significantly higher level of inherent risk than the other industry‐specific elements of the financial...