A strategic objective of the International Actuarial Association is to promote the issuance of actuarial standards in the jurisdictions of all IAA Member Associations, and the global convergence of actuarial standards.   To assist in the achievement of this objective, it has created the Actuarial Standards Committee for the purpose of producing standards, International Standards of Actuarial Practice (ISAPs), to serve primarily as models.  This session will cover:

 

• IAA Strategy for ISAPs
• The role of ISAPs (International Standards of Actuarial Practice) as models for national standard-setters and as standards themselves where designated in particular assignments
• ISAPs in contrast with International Actuarial Notes (IANs)
• The consultation process (“due process”)
• An update on activity (final standards, exposure drafts, statements of intent, and status of each)
• Actuarial standard-setters and IAA member associations around the world:  actions taken with respect to ISAPs, development of standards generally to date, and issues arising