Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Is Actuarial Valuation is Mandatory or Advisory as per AS 15?

Indian Accounting Standards 488 views 1 replies

Manoj K

46 Points Posted on 15 December 2021

Hi, whether the Actuarial Valuation as per AS 15 is Mandatory or Advisory? The language in Paragraph 49 of the said AS seems to be advisory, but, some of the professionals are saying it is mandatory. So, I would like to know the opinion of the experts here. I am placing the extract of the paragraph below:

"While the Standard requires that it is the responsibility of the reporting enterprise to measure the obligations under the defined benefit plans, it is recognised that for doing so the enterprise would normally use the services of a qualified actuary"

Thanks in advance.

Replies (1)

yasaswi gomes

My grammar is 💯 good I

7301 Points Posted on 16 December 2021

In the year 2007-08, I received an email just like this. I called them up and its Delhi number and the man is from Africa. He told me pay me 40,000 and I will get visa plus two million dollars reward. I deposited the money in Hyderabad ICICI bank near bus stand. The bank teller told me this is a bad account under suspicion. I persisted that he deposit my cash into his account. He did and I lost my money. That person never picked up my phone. Since then, some country police and visa officers stole 40 lakhs till date. Indian corporates, immigration agents are involved. Right now police case filed on them and police dealing with it currently. Delhi is a big scandal or what to allow your kind to visit India. Now, corporates will be giving me all the money back because when I scold other corporates online, the top level are angry one me. I dont know why they want to empathise with thieves. My only mistake was I did not report to the police that time.