Non-mandatory guidance

The Institute and Faculty of Actuaries (IFoA) produces non-mandatory guidance for IFoA members, their employers, and other stakeholders

It is not compulsory for members to comply with this material. In accordance with the Actuaries’ Code, IFoA members are expected to demonstrate the highest standard of professional conduct.  In order to do so, members should comply with ethical standards to ensure that the trust placed in members by users, employers, and other stakeholders continues to be justified.

To assist members to comply with such obligations, and to build on the requirements set out in the Actuaries’ Code, the IFoA has produced the non-mandatory guidance tabled below.

New guidance on APS X2 

APS X2 imposes requirements in relation to work review, including independent peer review. If you are an IFoA member it applies to you, regardless of: your practice area; the location at which you are based; the geographic scope of your work; or whether you are subject to partial or full regulation by the IFoA.  

APS X2 first came into effect on 1 July 2015 accompanied by non-mandatory guidance. Following the release of version 1.1 of APS X2 in January 2026, the IFoA has now issued new and improved guidance better to support members in applying APS X2 to their work. The improvements to the guidance are based on significant feedback from members during consultation in 2025. The new guidance is included in the table below. 

Non-mandatory guidance

Topic Guidance
Actuaries acting as the auditor’s expert
Acting as Non-Executive Directors
Actuarial Software and Calculations - Professional Responsibilities
The Actuaries' Code - Guidance to support the principles and amplifications in the Actuaries’ Code
Actuary as an Expert in Legal Proceedings
Applying Standards to Actuarial Work
Climate change
Compensation for Professional Shortcomings
Conflicts of Interest
Ethical and Professional Data Science
Designated Professional Bodies (DPB)
Review of Actuarial Work
Risks of Derivative Exposures
Whistleblowing and Speaking Up 

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Contact details

If you have any enquiries about non-mandatory guidance please email regulation@actuaries.org.uk