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AIA

FRC takes on new actuarial role

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10th Apr 2006
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The Financial Reporting Council (FRC) has taken on its new role in relation to actuarial standards and regulation. FRC has taken on the responsibility following the Morris Review of the actuarial profession, published in March 2005, which recommended that the FRC be asked to establish a regime to set actuarial standards and oversee regulation of the actuarial profession. The purpose of the new regime will be to enhance the quality of actuarial reporting and promote the integrity, competence and transparency of the actuarial profession ' to the benefit of all those who rely on actuarial advice. Paul Boyle, FRC chief executive, said: "We are looking forward to working closely with the Actuarial Profession, the insurance and pension sectors and others, to ensure that the FRC's new regime for actuarial standards and regulation provides benefits for all those with an interest in the quality of actuarial advice."

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