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Professional Standards Directory

The Professional Standards Directory provides an up-to-date listing of the IFoA’s Actuarial Profession Standards (APSs) and links to the Financial Reporting Council’s (FRC) standards

The IFoA is responsible for setting and maintaining ethical standards and the FRC is responsible for setting Technical Actuarial Standards (TASs) within its geographic remit.  Members must comply with these standards.

Actuaries' Code, Actuarial Profession Standards (APSs) and Guidance Notes (GNs)

Title Document link
The Actuaries' Code The Actuaries' Code (Version 3.0) (effective 18.05.2019)
APS X1 Applying Standards to Actuarial Work (Version 1.1) (effective 19.03.2019)
APS G1 The Chief Actuary in Non-Life Insurance (Version 2.0) (effective 01.09.2017)
APS L1 Duties and Responsibilities of Life Assurance Actuaries (Version 3.0) (effective 01.09.2017)
APS Z1 Duties and responsibilities for actuaries working for UK trust-based pre-paid funeral plans (Version 1.0) (effective 01.12.2015)
APS QA1 Quality Assurance for Organisations
APS X2 Review of Actuarial Work (Version 1.0) (effective 01.07.2015)
APS X3 The Actuary as as Expert in Legal Proceedings (Version 2.0) (effective 20.04.2018)
APS X4 Social Security Programmes (effective 27.02. 2020) 
APS X5

Compensation for Professional Shortcomings (Version 1.0) (effective 20.11.2020) 

APS D1 Investment Related Business Activities for Authorised Professional Firms (Version 3.0) (effective 01.07.2016)
APS G2 Actuarial Reporting for Lloyd's Syndicates Writing US Business (Version 1.1) (effective 01.04.2014)
APS L2 The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 (Version 1.1) (effective 01.04.2014)
APS P1 Duties and Responsibilities of Members Undertaking Work In Relation to Pension Schemes (Version 2.0) (effective 01.07.2013)
GN 27 Retirement Benefit Schemes - Minimum Funding Requirement (Version 2.1) (effective 13.01.2003)
GN 30 Compensation for Professional Shortcomings (Version 1.0) (effective 01.09.1997)

Financial Reporting Council Standards

You can access the current FRC standards on the FRC’s website.

Contact Details

If you have any questions about the Professional Standards Directory please email

regulation@actuaries.org.uk

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Events calendar

  • India Town Hall

    Webinar
    28 January 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann. 

  • Spaces available

    What are the options for the world economy looking ahead?

    In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.

  • Spaces available

    Trust and Leadership for Actuaries

    Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:

  • Health and Care Hot Topics webinar

    Online webinar
    10 February 2021

    Spaces available

    In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.

    Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.

  • Spaces available

    As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.

  • Sub-Saharan Africa Town Hall

    26 February 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.

  • MENAP Town Hall

    2 March 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.