A review of Opinion No. 8, which is a statement by the American Institute of Certified Public Accountants (A.I.C.P.A.). Opinion No. 8 is of interest to actuaries for the following reasons:

(1) Its history provides a study of the painstaking methods followed in the U.S.A.

(2) Any actuary who becomes concerned with the pension affairs of a subsidiary of a U.S. company will need to know the scope of the Opinion, its requirements and the difficulties to which it may give rise.

(3) The relationship between members of different professions has to be considered from time to time. Opinion No. 8 concerns itself to some extent with actuarial matters, and it is important to be clear about what it purports to do and the precise roles cast for actuaries and accountants in dealing with it.

(4) It is another factor stimulating discussion regarding pension funding methods.