In terms of the Memorandum of Understanding between the Actuarial Profession and the Financial Reporting Council dated 17 May 2006, the Board for Actuarial Standards (BAS) is responsible for the setting of actuarial technical standards.

With effect from 19 May 2006 the BAS adopted, as BAS standards, most of the technical Guidance Notes previously forming part of the Manual of Actuarial Practice. A further five technical Guidance Notes and a Technical Memorandum were adopted by the BAS following changes in DWP legislation with effect from 6 April 2007.

The Actuarial Profession retained responsibility for the setting and maintenance of ethical standards. In the light of these changes, the Manual of Actuarial Practice has now been renamed as the "Actuarial Profession Standards". Further details of these arrangements can be found here.

With effect from 1 December 2008, the Actuarial Profession re-adopted 3 Guidance Notes which were withdrawn by the BAS on 30 November 2008. Details are shown in the Professional Standards Directory below.

This web page is designed to permit members and others to access the current BAS standards together with the current version of the Actuarial Profession Standards. Details of all Professional Standards updates can be found here.

BAS Standards

Members and others wishing to access the current BAS Standards will find them on the website of the Board for Actuarial Standards. Each body is responsible for the content on its own website.

Actuarial Profession Standards

• Advance copies
• Exposure drafts

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 03.10.05)
• Due process for responding to proposals from the IAA for International Actuarial Standards of Practice (IASPs)
  Version 1.0 (effective 01.01.07)

Advance copies

There are currently no advance copies.

Exposure drafts

There are currently no advance copies.

Note:

The contents of the Manual of Actuarial Practice in the form published by the Profession between 1 May 1991 and 18 May 2006 are still available for viewing.