Guideline 52 - Valuation of assets and liabilities other than technical provisions

1.101. In its policy and procedures for valuation of assets and liabilities the undertaking should cover at least the following:

a) the methodology and criteria to be used for the assessment of active and non-active markets;

b) the requirements to ensure adequate documentation of the valuation process and of the accompanying controls, including those for data quality;

c) the requirements on the documentation of the valuation approaches used regarding:

(i) their designs and the way they are implemented;

(ii) the adequacy of data, parameters and assumptions;

d) the process for the independent review and verification of the valuation approaches;

e) the requirements for the regular reporting to the AMSB for matters that are relevant for its governance on valuation.

Guideline 53 - Data quality control procedures

1.102. The undertaking should implement data quality control procedures to identify deficiencies and to measure, monitor, manage and document their data quality. These procedures should include:

a) completeness of data;

b) appropriateness of data, both from internal and external sources;