Recommendation raised Comments received from Status as Status on actions taken by Italian court of Auditors Secretary-General at the time of reported by ITU Management by Management as evaluated by the issuance of the report Italian Court of Auditors I take note of this recommendation This recommendation has been Employee benefits: Repatriation and will instruct FRMD to ensure taken into account for the actuarial Rec. 5 grants Closed 2012 However, this difference in key the harmonization of the chosen key reports related to year-end 2013. assumptions [between CPA and assumptions in the actuarial studies The key assumptions have been AON Hewitt] has not a significant when relevant in 2013. compared to ensure the use of impact on the final calculation, in similar assumptions when the particular the lower discount rate circumstances are comparable and utilized by CPA has an effect of consistency when the conditions being more prudential in the final (especially the time period to be value, nevertheless, we recommend considered) are different. Management to use similar key assumptions in all actuarial studies made where circumstances are comparable, in particular regarding the discount rate used. Recommendation raised Comments received from Status as Status on actions taken by Italian court of Auditors Secretary-General at the time of reported by ITU Management by Management as evaluated the issuance of the report by Italian Court of Auditors
Recommendation raised by Italian court of Auditors Comments received from Secretary-General at the time of the issuance of the report Status as reported by ITU Management Status on actions taken by Management as evaluated by Italian Court of Auditors Rec. 5 2012 Employee benefits: Repatriation grants However, this difference in key assumptions [between CPA and AON Hewitt] has not a significant impact on the final calculation, in particular the lower discount rate utilized by CPA has an effect of being more prudential in the final value, nevertheless, we recommend Management to use similar key assumptions in all actuarial studies made where circumstances are comparable, in particular regarding the discount rate used. I take note of this recommendation and will instruct FRMD to ensure the harmonization of the chosen key assumptions in the actuarial studies when relevant in 2013. This recommendation has been taken into account for the actuarial reports related to year-end 2013. The key assumptions have been compared to ensure the use of similar assumptions when the circumstances are comparable and consistency when the conditions (especially the time period to be considered) are different. Closed Recommendation raised by Italian court of Auditors Comments received from Secretary-General at the time of the issuance of the report Status as reported by ITU Management Status on actions taken by Management as evaluated by Italian Court of Auditors
S14-CL-C-0105!R1!MSW-E.docx