IAA admits two new member associations

The International Actuarial Association (IAA) is delighted to announce that it has admitted the Aktuarsko društvo u Bosni i Hercegovini (AD BiH) from Bosnia and Herzegovina as its sixty-fourth Full Member association. The AD BiH was founded in 2002, joined the IAA as an Associate Member in the same year and now has a membership comprising 23 fully qualified actuaries. The association will be hosting its first seminar as a Full Member of the IAA on February 1–2, 2012, on the topic of professionalism.

The IAA is also pleased to announce it has admitted the Actuarial Society of Armenia—founded in 2010 and consisting of 30 actuaries and prospective actuaries—as an Associate Member. As a result, the IAA retains its level of 26 Associate Members.

Associate membership of the IAA is normally the first step toward Full Member status. Admission as a Full Member association of the IAA follows a rigorous process that includes reviewing the education program and ensuring that the applicant association has a Code of Professional Conduct, a formal discipline process, and a formal process for the adoption of standards of practice, where applicable. The IAA Accreditation Committee reviews each of these documents to ensure compliance with IAA set requirements. The IAA Education Committee ensures that the association’s education program meets the criteria set out in the IAA Education Guidelines and Syllabus and that all the actuaries that will be recognized as attaining fully qualified status will be required to have successfully completed this program.

To learn more about membership in the IAA, contact the IAA Secretariat.