(ii) If a partner, who is an actuary, provides valuation services to an audit client, can

(ii) If a partner, who is an actuary, provides valuation services to an audit client, can we continue with the audit?

(3 marks)

Required:

For each of the three questions, explain the threats to objectivity that may arise and the safeguards that

should be available to manage them to an acceptable level.

NOTE: The mark allocation is shown against each of the three questions above.

(ii) Actuarial services to an audit clientIFAC’s ‘Code of Ethics for Professional Accountants’ does not deal specifically with actuarial valuation services but withvaluation services in general.A valuation comprises:■ making assumptions about the future;■