11 May 2026
Following a consultation in 2025, and the subsequent publication of a revised Actuarial Professional Standard (APS) X2, new associated guidance and case studies have been published.
APS X2 sets out the IFoA’s requirements for work review, including independent peer review. It is a mandatory standard that applies to all actuarial work conducted by IFoA members in all practices and jurisdictions.
The consultation, which took place between 16 June and 15 October 2025, sought views on minor amendments to APS X2, including updates to reflect the new IFoA Disciplinary Scheme.
The IFoA’s Regulatory Board used consultation feedback provided on the guidance and case studies to produce more relevant easier to navigate guidance.
The new guidance includes a flowchart to help members navigate the provisions of the standard more easily. The guidance has been restructured to make help members quickly and easily get to information they need, with embedded case studies throughout, to bring the topics discussed to life.
Regulatory Board have listened to feedback from members working in insurance and revised the guidance to clarify the applicability of APS X2 in insurance settings. In particular, to emphasise that the purpose of APS X2 is not to replace robust and existing processes which firms otherwise have in place.
Find the revised guidance on our non-mandatory guidance webpage