In some instances, we have entered into Memoranda of Understanding (MOUs) with these organisations. These MOUs set out the arrangements that we have with them regarding communication, co-operation, disciplinary matters and joint working practices. We review these MOUs on a regular basis to ensure that they are up-to-date and accurately reflecting the nature of our working relationships.
Organisations we have MOUs with
Currently the IFoA has MOUs with five organisations. These are the:
- Financial Reporting Council (FRC)
- Pensions Regulator
- Pension Protection Fund
- Financial Services Authority (FSA) (in particular, in relation to Designated Professional Bodies)
- Staple Inn Actuarial Society.
We have also entered into a communication protocol with the FRC that sits alongside our MOU with them. It provides further elaboration as regards our collaboration, notification and co-operation procedures in relation to matters which relate to our respective regulatory responsibilities.
- 6 November 2006
Memorandum of Understanding between the Institute and Faculty of Actuaries and the Board of the Pension Protection Fund25 November 2011
Memorandum of Understanding between the Institute and Faculty of Actuaries and the Staple Inn Actuarial Society18 January 2012
Communication protocol between the Institute and Faculty of Actuaries and the Financial Reporting Council21 August 2012
Memorandum of understanding between the Financial Conduct Authority (FCA) and the Institute and Facutly of Actuaries31 March 2013
Memorandum of understanding between the Financial Reporting Council and the Institute and Faculty of Actuaries in relation to oversight and technical actuarial standards16 August 2012
Memorandum of Understanding between the Financial Reporting Council and the Institute and Faculty of Actuaries23 July 2014
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Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s Climate Change Guidance Consultation, which is seeking views on new guidance designed to help trustees meet tougher standards of governance in relation to climate change ri
Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.