The Actuaries' Code

Changes to the Actuaries’ Code

The IFoA has published a revised Actuaries’ Code which will come into force on 18 May 2019. The changes follow a substantive review of the Code and public consultation. 

Read about the changes to the Code. 

View the feedback from the recent public consultation.

Watch the Revised Code Video:

In this video Wendy Walford and Malcolm Slee, both members of the Actuaries' Code Review Working Party, discuss the necessity of the Code and the changes that have been made. 

The existing Code

The existing Actuaries' Code will continue to apply until the revised Code comes into force. 

The principles of the existing 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.

Who does the Actuaries' Code apply to?

The Actuaries’ Code applies to all members of the IFoA

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.

Guidance 

Detailed guidance exists on a number of specific topics that are strongly connected with the requirements of the Code.

Read the IFoA’s full suite of non-mandatory guidance.