17 July 2024
Responding to the King’s Speech at the State Opening of Parliament today (17 July 2024), Kalpana Shah, President of the Institute and Faculty of Actuaries (IFoA), said:
“Six years on from Sir John Kingman’s independent review of the Financial Reporting Council (FRC), the inclusion of a Draft Audit Reform and Corporate Governance Bill in today’s King’s Speech is an important development for the future of actuarial regulation. We await its publication with interest to see how the regulatory framework for actuaries will be affected, as well as the proposed legislative timetable. We welcome the opportunity to help shape a clear, sustainable and proportionate regulatory framework which serves the public interest and we look forward to continuing to work closely with the FRC to this end.”
~ENDS~
Hannah Patmore, Communications Manager, IFoA
Tel: 07519106714
Email: hannah.patmore@actuaries.org.uk
The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body.
Research undertaken by the IFoA is not commercial. As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest.
Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s of London.
Members are governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of actuaries in society.
The IFoA is available to provide independent expert comment to the media on a range of actuarial-related issues, including COVID-19 and its long term consequences, mortality, pensions, life and general insurance, health and care, finance and investment, climate change and sustainability, systems thinking, uncertainty and judgement, and risk management.