The Actuaries Code

Consultation: Proposed changes to the Actuaries’ Code

The IFOA is consulting on proposed changes to the Code. As well as changes to the Code itself, the proposals include the introduction of an accompanying Guide to assist Members in understanding their professional and regulatory responsibilities.

The Code applies to all IFoA members and, given its importance in our regulatory framework, we encourage you to read the proposals and provide us with your views.

The principles of the Actuaries’ Code are:

1. Integrity: members will act honestly and with the highest standards of integrity
2. Competence and care: members will perform their professional duties competently and with care
3. Impartiality: members will not allow bias, conflicts of interest, or the undue influence of others to override their professional judgement
4. Compliance: members will comply with all relevant legal, regulatory and professional requirements, take reasonable steps to ensure they are not placed in a position where they are unable to comply, and will challenge non-compliance by others
5. Communication: members will communicate effectively and meet all applicable reporting standards.

Read the full version of the Code.

When does the Actuaries' Code apply?

The Actuaries' Code applies at all times to members’ conduct in their work as actuaries and is taken into consideration where members’ conduct in other contexts could reasonably reflect on the actuarial profession.

How does the Actuaries' Code apply?

Where a member’s conduct is called into question, failure to observe the Actuaries' Code may be taken into account by a Disciplinary Panel.

If you have any questions about your obligations under the Actuaries' Code you may wish to submit your query to the Professional Support Service.