Council

Council

The Council is the governing body of the IAA in relation to achieving the IAA’s Vision Statement and Mission Statement through the Strategic Objectives set out in the Strategic Plan adopted by Council from time to time.

Without limiting the generality of the foregoing, the Council shall have the following duties and responsibilities:

1. Approve the strategic direction and the scope of activities, and a strategic action plan for International Standards of Actuarial Practice (ISAPs), as proposed by the Executive Committee;
2. Amend these Statutes;
3. Establish and amend Internal Regulations;
4. Approve the process and criteria for membership in the IAA;
5. Admit and terminate members of the IAA, including Full Members, Associate Members, and all other membership categories;
6. Establish and dissolve Sections and funds;
7. Elect and remove from office the Officers and members of the Executive Committee;
8. Appoint members to the Statutory Committees (Audit and Finance, Executive, Nominations) and other Committees whose membership is limited, as set out in such terms of reference adopted by Council or the Executive Committee from time to time;
9. Determine the location of the Secretariat;
10. Approve the due process by which guidelines, recommendations, actuarial notes or ISAPs are to be approved and issued;
11. Approve ISAPs;
12. Approve the due process for issuance of public statements;
13. Determine external relations policies;
14. Determine annual membership fees;
15. Approve the policy regarding the purchase and disposition of assets held by the IAA;
16. Approve investment guidelines;
17. Receive the reports of the President and of the Statutory Committees and approve the audited accounts and the budget for each financial year; and
18. Appoint and remove auditors.