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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)

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

  • Asia Conference 2021 webinar series

    Online webinar series
    26 July 2021 - 30 July 2021
    Spaces available

    We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.”

  • CMI Income Protection

    30 July 2021

    Spaces available

    In April 2021, the CMI Income Protection Committee published Working Paper 149, which detailed the changes to analysis methodology for the Income Protection Investigation and the impact of past data issues. This webinar will provide an overview of the changes in the analysis approach and discuss the adjustments to the IP11 claim inceptions graduations.

  • Spaces available

    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

  • Spaces available

    Risk Management Webinar ProgrammeInternal 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.

  • Spaces available

    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.