280 / 499
This report is intended for use by the management of the Variable Annuity Life Insurance Company ("VALIC") and its subsidiaries.
VALIC Retirement Services Company ("VRSCO") and VALIC Financial Advisors, Inc. ("VFA"), its user entities, and the independent
auditors of its user entities, and is not intended and should not be used by anyone other than these specified parties.
Back to TOCClick
VALIC
.com 73
Control Objective 10
- Controls provide reasonable assurance that transactions and participant account balances
are valued based on market prices obtained from authorized pricing sources.
VALIC Control Activities
Tests of Operating Effectiveness
Results of Tests
10.5 A roll-forward is performed on
the total fixed account values on a
monthly basis.
Inspected a sample of the monthly
roll-forwards to determine whether
the roll-forward for total fixed account
values was performed.
No exceptions noted.
10.6 The Interest Crediting Committee
meets monthly and reviews and
approves the interest crediting
rates.
Test performed by the FCU team:
Inspected a sample of monthly
reviews of the interest crediting rates
to determine whether the Interest
Crediting Committee met and
approved the rates.
No exceptions noted.
IV. VALIC control objectives and controls, and PricewaterhouseCoopers LLP's tests of operating
effectiveness and results of tests