IAA Council Appoints New Members to its Actuarial Standards Committee
The Actuarial Standards Committee (ASC) of the International Actuarial Association (IAA) was first created in late 2010 as a permanent committee to address the need for model International Standards of Actuarial Practice (ISAPs).
The ASC membership is appointed by the IAA Council, on the recommendation of its Nominations Committee, and aims at achieving a reasonable balance by practice area, type of employment, region, experience and size of home association, and includes members with experience of the varying forms of regulatory framework for actuarial standards which exist. Members should, as far as possible, have direct experience with writing actuarial standards and are appointed for their expertise and not as representatives of an IAA Full Member Association, although their appointment must be supported by the relevant Member Association.
The IAA is pleased to announce the committee’s composition as follows effective January 1, 2015 (end of term of office in brackets):
|Chairperson:||Alfred E. Gohdes—Germany||(2017)|
|Co-Vice-Chairpersons:||Godfrey Perrott—United States||(2015)|
|Members:||Albert J Beer—United States||(2016)|
|Andrew Chamberlain—United Kingdom||(2015)|
|Ruth Chu—Chinese Taipei||(2016)|
|Marius Du Toit—South Africa||(2017)|
|A. David Pelletier—Canada||(2015)|
The IAA recognizes its outgoing members whose terms of office will end on December 31, 2014:
- A. David Pelletier (Canada), Chair since the creation of the committee, will remain for one additional year as a member for transitional purposes;
- Francis Ruygt (The Netherlands), Member; and
- Jesús Zúñiga (Mexico), Member.
Until recently, Peter Braumüller served as Chairman of the Executive Committee of the International Association of Insurance Supervisors (IAIS). President Rob Brown stated “We are thrilled that Peter, after having successfully led the IAIS since 2009, has agreed to serve on the ASC and join the IAA’s efforts in developing ISAPs.”
The purpose of the ASC is to develop and maintain all model International Standards of Actuarial Practice in accordance with the Vision Statement for International Standards of Actuarial Practice and Due Process, and the Statement of Objectives for International Standards of Actuarial Practice. ISAPs will be widely accepted as a basis for convergence by local standard-setters and recognized by the parties who rely on actuarial standards such as audit firms, relevant supranational organizations, and the local regulators. The ASC promotes high-quality actuarial practice globally by helping to serve the public interest. It also enhances the credibility of the actuarial profession to benefit users of actuarial work, regulators, and participants and beneficiaries of financial products and services, including social security programs and benefits actuarial associations and individual actuaries.