The SEC Independence Rules Prohibit Auditors from Providing Actuarial Services

question 82

True/False

The SEC independence rules prohibit auditors from providing actuarial services to public company audit clients.

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Definitions:

Defined Benefit Pension Plan

A retirement plan where employee benefits are calculated using a formula considering factors like salary history and duration of employment.

Vested Benefits

Benefits that an employee has earned the right to receive, even if they no longer work for the employer, typically in a pension or retirement plan.

Postretirement Health Care Benefits

Benefits provided by an employer to retired employees, covering medical and health-related expenses.