Professional Standards Directory

The Professional Standards Directory provides an up-to-date listing of the IFoA’s Actuarial Profession Standards (APSs) and links to the Financial Reporting Council’s (FRC) standards

The IFoA is responsible for setting and maintaining ethical standards and the FRC is responsible for setting Technical Actuarial Standards (TASs) within its geographic remit.  Members must comply with these standards.

Actuaries' Code, Actuarial Profession Standards (APSs) and Guidance Notes (GNs)

Title Document link
The Actuaries' Code The Actuaries' Code (Version 3.1) (effective 01.08.2023)
APS X1 Applying Standards to Actuarial Work (Version 1.1) (effective 19.03.2019)
APS G1 The Chief Actuary in Non-Life Insurance (Version 2.0) (effective 01.09.2017)
APS L1 Duties and Responsibilities of Life Assurance Actuaries (Version 4.0) (effective 02.04.2024)
APS Z1 Duties and responsibilities for actuaries working for UK trust-based pre-paid funeral plans (Version 2.0) (effective 19.11.2023)
APS QA1 Quality Assurance for Organisations (Version 3.0) (effective 01.04.2022)
APS X2 Review of Actuarial Work (Version 1.0) (effective 01.07.2015)
APS X3 The Actuary as as Expert in Legal Proceedings (Version 2.0) (effective 20.04.2018)
APS X4 Social Security Programmes (effective 27.02. 2020) 

Compensation for Professional Shortcomings (Version 1.0) (effective 20.11.2020) 

APS D1 Investment Related Business Activities for Authorised Professional Firms (Version 3.0) (effective 01.07.2016)
APS G2 Actuarial Reporting for Lloyd's Syndicates Writing US Business (Version 1.1) (effective 01.04.2014)
APS L2 The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 (Version 1.1) (effective 01.04.2014)

Duties and Responsibilities of Members Undertaking Work In Relation to Pension Schemes (Version 4.0) (effective 1 March 2023)

GN 27 Retirement Benefit Schemes - Minimum Funding Requirement (Version 2.1) (effective 13.01.2003)

Financial Reporting Council Standards

You can access the current FRC standards on the FRC’s website.


Professional Standards Directory

Provides an up-to-date listing of the IFoA’s Actuarial Profession Standards (APSs) and links to the Financial Reporting Council’s (FRC) standards.

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Professional Support Service

The Professional Support Service (PSS) is a free support service for Institute and Faculty of Actuaries (IFoA) members

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Current FRC standards

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