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The Actuaries' Code Principle 3 - Impartiality

Principle 3 - Impartiality 

3. Members must ensure that their professional judgement is not compromised, and cannot reasonably be seen to be compromised, by bias, conflict of interest, or the undue influence of others.

3.1  Members must take reasonable steps to ensure that they are aware of any relevant interests that might create a conflict.

3.2  Members must not act where there is an unreconciled conflict of interest.

Users can expect Member’s work to be prepared on an objective basis, and for Member’s professional judgement not to be compromised. There are always risks that Members can be affected by bias, conflict of interest and the undue influence of others. They must therefore ensure they are aware of these risks and endeavour to act, and be seen to act, in an impartial manner.

Find out more in our Guidance on the Impartiality Principle of the Actuaries’ Code. You can read the Guidance online, download a copy, or view the questions below which will take you to the corresponding part of the Guidance:

There is also a Conflicts of Interest Guide:

What is Impartiality?

What do you mean by Impartiality?

What can I do if my impartiality is compromised?         

How do I know if my impartiality is compromised?

Applying the principle to your work

I’ve been asked to tweak a piece of work to bring it in line with my employer’s commercial strategy, could this compromise my impartiality?

Could using tried and tested methodologies put me at risk of bias?

What should I do if I am accused of bias by a colleague?

Is there a risk that my organisation or whole sector could be biased?

How can I identify institutional bias and what can I do about it?

How can a conflict of interest arise and what should I look out for?

I’ve identified a conflict of interest, what can I do?

Where can I find more guidance?

 

Contact Details

For further information contact:

code@actuaries.org.uk

Regulation Team, The Institute and Faculty of Actuaries, Level 2, Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

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