Professional Standards Directory
Professional Standards Directory
Under the terms of the Memorandum of Understanding between the Actuarial Profession and the Financial Reporting Council, dated 17 May 2006, the Board for Actuarial Standards is responsible for the setting of technical actuarial standards.
The Profession retained responsibility for the setting and maintenance of ethical standards which are known as Actuarial Profession Standards (APSs). You can access the current versions of the APSs which include the new Actuarial Profession Standards, extant Actuarial Profession Guidance Notes (GNs) and the current BAS standards through the links on this page. Please be aware that each body is responsible for the content on its own website.
BAS Standards
You can access the current BAS Standards on the BAS's website here.
You can also access various FAQs on the BAS Standards which the BAS have prepared here.
Actuarial Profession Standards
|
The Actuaries' Code |
The Actuaries' Code Version 1.0 (effective 01.10.09) |
|
APS D1 |
Investment related business activities for authorised professional firms Version 1.0 (effective 01.12.09) |
| APS G2 |
Actuarial reporting for Lloyd's syndicates writing US business Version 1.0 (effective 15.12.10)
|
| APS L1 |
Duties and responsibilities of life assurance actuaries Version 1.0 (effective 01.10.11)
|
| APS L2 |
The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 Version 1.0 (effective 01.10.11)
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| APS P1 |
Duties and responsibilities of pensions actuaries Version 1.0 (effective 01.04.11)
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| APS P2 |
Compliance review: Pensions Version 1.0(effective 01.04.11)
|
|
GN5 |
The prudential supervision outside the UK of long-term insurance business Version 3.0 (effective 01.09.03) Version 3.1 (effective 01.12.07)
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|
GN27 |
Retirement benefit schemes - minimum funding requirement Version 2.1 (effective 13.01.03)
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|
GN30 |
Compensation for professional shortcomings
|
Archived APSs
| GN29 |
Occupational pension schemes - advisers to the trustees Version 6.0 (effective 06.04.05) Version 7.0 (effective 01.04.07) Version 7.1 (effective 31.03.08) Withdrawn 31.03.2011 |
| GN37 |
The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 Version 2.0 (effective 01.02.06)
|
| GN39 |
General responsibilities of and relationships between actuarial function holders, with-profits actuaries, appropriate actuaries, and reviewing actuaries, of UK life insurance firms and friendly societies Version 1.0 (effective 31.12.04) Version 1.1 (effective 31.12.04) Version 2.0 (effective 01.02.06) Version 2.1 (effective 01.02.06) Adopted by BAS on 19.05.06. Re-adopted by the Actuarial Profession on 01.12.08
|
| GN42 |
The reviewing actuary Version 1.0 (effective 31.12.04) Version 2.0 (effective 01.06.06) Re-adopted by the Actuarial Profession on 01.12.08 Version 2.1 (effective 01.12.08)
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| GN48 |
Compliance review: pensions Version 1.0 (effective 31.12.04) Version 2.0 (effective 01.01.07) Version 2.1 (effective 01.02.10)
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| GN51 |
Retirement benefit schemes - modification of subsisting rights without consent Version 1.0 (effective 06.04.06) Version 1.1 (effective 06.11.06) Version 1.2 (effective 01.12.08) Withdrawn 31.03.2011 |
Exposure Drafts
There are currently no exposure drafts.
Advance copies:
There are no advance copies.
Additional material:
- Standards Approval Process
Appendix 1: Proposal to the Standards Review Committee
Appendix 2: Style guidelines for the production of an Actuarial Profession Standard (AP Standard)
Appendix 3: Style guidelines for the production of an Information and Assistance Note (IAN)
- Due Process for approving Guidance Notes
Version 4.2 (effective 03 October 2005) - Due process for responding to proposals from the IAA for International Actuarial Standards of Practice (IASPs)
Version 1.0 (effective 01 January 2007)
Page updated: 1 October 2011