In this era of changing financial reporting standards, clients rely on Milliman's 60 years of actuarial expertise. We are a highly regarded developer of industry best practices and actively track new trends as they emerge.
We serve as appointed actuaries, actuarial function holders, with-profits actuaries, and reviewing actuaries. We offer hands-on experience in a wide variety of reporting methods, but whatever method employed, our primary focus remains on precise calculations and achieving consistently accurate results.
We can create customized financial-reporting systems built to client specifications or review a client's existing systems and offer ideas for improvement. We also provide custom-engineered tools clients can use to generate regular reports.
All of our reporting systems design and modification work comes with thorough training for clients' actuaries, so they can get the most benefit out of the systems while operating them in house.
Thorough knowledge of existing and emerging standards
Consultants in our UK practice and around the globe offer well-rounded knowledge of financial reporting and analysis issues. We are experts in all the accepted reporting standards, including UK GAAP, US GAAP, statutory, tax, and International Financial Reporting Standards (IFRS) proposed or adopted by IASB. Clients often turn to us for advice on implementing new accounting pronouncements.
As industry reporting standards change, we provide insight on new concepts, including:
- the move towards Solvency II
- local country GAAP and its potential convergence with IFRS standards
Our proprietary modelling tools allow us to calculate the effects of possible changes on a client's reserves and capital, especially the implications for pricing and structure of new products.