Management letter
The written communication from the accountant to those charged with governance about significant findings based on an annual audit.
04Sep
23Jul
Master Investment Policy Statement (MIPS)
The main document drafted between the portfolio manager and the APS that outlines general rules for the manager. It provides the general investment goals and objectives of the APS and describes the strategies that the manager should employ to meet these objectives.
01Nov
Material errors and uncertainties
A material error or uncertainty is a failure in the internal control mechanisms that ensure financial rules and processes are followed. Errors may result in misstatements in the financial statements, which can present an untrustworthy presentation of affairs and lead to an adverse auditors' opinion. Errors and uncertainties are material if they can...
06May
Material misstatement (materiële onzekerheid)
Misstatements that are so large in nature and scope that the judgment of a user is likely to be affected. In the financial statement this is called materiality. Materiality can be of significant influence.
30Sep
Materiality
A situation where the financial information of has the potential to alter the view or opinion of a reasonable person. Materiality of financial statements are criteria for recording on the balance sheet or profit/loss statement. (jaarrekeningsmaterialiteit)
04Sep
Monitoring
The process to assess the effectiveness of performance over time.
03Aug
Mortality rate
The assumed probability of dying within a year. Mortality and life expectancy are assumptions used in pension planning. (sterftecijfer)