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THE INTERNATIONAL ACTUARIAL ASSOCIATION

THE INTERNATIONAL ACTUARIAL ASSOCIATION. Actuaries serving the public interest. INTERNATIONAL ACTUARIAL ASSOCIATION. founded in 1895 as - Comité permanent des Congrès d’actuaires members were individual actuaries main role was to organise congresses

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THE INTERNATIONAL ACTUARIAL ASSOCIATION

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  1. THE INTERNATIONALACTUARIALASSOCIATION Actuaries serving the public interest

  2. INTERNATIONAL ACTUARIAL ASSOCIATION • founded in 1895 as - Comité permanent des Congrès d’actuaires • members were individual actuaries • main role was to organise congresses • special interest sections - ASTIN and AFIR • name changed to IAA in 1968 • new constitution - June 1998

  3. THE NEW IAA • association of associations • focus on professionalism • aim is to create a global profession • development of quality and standards • active and responsive committee structure • scientific sections for individual members

  4. ACCREDITATION CRITERIA To be a full member an association must have • an adequate code of conduct • a robust disciplinary process • due process for adopting standards of practice • education commitment for 2005 • payment of membership subscription

  5. MISSION OF IAA To encourage the development of a global profession, acknowledged as technically competent and professionally reliable, which will ensure that the public interest is served

  6. Accreditation Advice & Assistance Education Insurance Accounting Standards Pension Accounting Standards Insurance Regulation Social Security Financial Risk Services for Individual Members Professionalism Supranational Nominations Audit IAA COMMITTEES

  7. INTERNATIONAL CONTACTS • International Social Security Association (ISSA) • Intnl. Association of Insurance Supervisors (IAIS) • Intnl. Accounting Standards Board (IASB) • International Labour Office (ILO) • World Health Organisation (WHO) • World Bank • International Monetary Fund (IMF)

  8. INSURANCE ACCOUNTING STANDARDS • represented on Insurance Steering Group • close working relationship with IASB • key opportunity to influence standard • extensive comments on disclosure draft • developing actuarial standard of practice • discussions also with IAIS

  9. IAA EDUCATION GUIDELINES AND SYLLABUS • adopted by IAA in June 1998 • requirement for Full Member associations... • … from 2005 onwards • sets educational benchmark for profession • supports mutual recognition of qualifications • provides guidance for new courses

  10. ACTUARIES - THE FIRST GLOBAL PROFESSION? THE INTERNATIONAL ACTUARIAL ASSOCIATION IAA/AAI

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