Must an entity appoint an actuary at every reporting date to measure its defined benefit obligations?

Updated FAQ

Following the review of GRAP 25 on Employee Benefits, FAQ 5.2 was updated to incorporate guidance on the use of actuaries when a plan amendment, curtailment or settlement has occurred.

Where external actuarial valuations in the current reporting period indicate that adjustments are needed to previously reported amounts, entities asked whether these adjustments are changes in accounting estimates (adjusted prospectively) or errors (adjusted retrospectively)? The FAQ now also includes guidance on a change in accounting estimate or error.

Access FAQ 5.2 here: FAQs