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

With effect from and after midnight between 18 and 19 May 2006 the BAS has 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. This completes the transfer of the relevant technical GNs to the BAS, leaving the Profession responsible 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.

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. Please note that the Actuarial Profession is not responsible for the BAS standards or for contents of the BAS website.

Actuarial Profession Standards

• Advance copies
• Exposure drafts - including the most recent EDs of the Actuaries' Code and five supporting Actuarial Profession Standards

Additional Material:

• Due process for approving Actuarial Profession (AP) Standards
  Version 1.0 (effective 01.01.07)
• 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)
• Protocol for Information and Assistance Notes (IANs)
  Version 1.0 (effective 01.01.07)
  Version 2.0 (effective 16.07.07)

Advance copies

There are currently no advance copies.

Exposure drafts

The UK Profession invites comments on the Exposure Drafts of The Actuaries' Code and five supporting Actuarial Profession Standards, listed below.

Download here.

• ED10 The Actuaries' Code
• ED11 AP Standard Conduct
• ED12 AP Standard Competence
• ED13 AP Standard Client Interests
• ED14 AP Standard Compliance
• ED15 AP Standard Communication

The deadline for response is Friday 11 July 2008.

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.