TAS R and TAS D

24 February 2010

Dear Practising Certificate Holder,

As you should be aware, the commencement dates for two of the Technical Actuarial Standards (TAS) issued by the Board for Actuarial Standards (BAS) are fast approaching.

The first TAS is Reporting Actuarial Information (TAS R) which applies to aggregate reports completed on or after 1 April 2010, closely followed by Data (TAS D) which applies to data used in the preparation of aggregate reports completed on or after 1 July 2010. Both standards are generic TASs and should be read in conjunction with the BAS’s Scope and Authority of Technical Standards which sets out the type of work to which the standards apply.

A number of other TASs are expected to be published in the coming months and the Profession will keep members up to date on this important topic via practice-specific newsletters as well as through articles in The Actuary. Please therefore ensure that you have registered to receive the newsletter for your practice area. The Profession is also developing resource material to assist members in ensuring that they understand all the TASs.

As a Practising Certificate holder, it is obviously very important that you ensure that you familiarise yourself with the content of the TASs and assess if, and how, they apply to your area of work. You could, of course, be liable to disciplinary action by the Profession should you fail to comply with an applicable BAS standard.

If you have any issues or concerns about the applicability of TASs, please e-mail member_support@actuaries.org.uk. Whilst we cannot undertake to answer each individual query we shall endeavour to ensure that the issues raised are incorporated into appropriate resource material.

Richard MaconachieHead of Professional RegulationThe Actuarial Profession