Financial Reporting Council Publishes Actuarial Quality Framework
The Financial Reporting Council (FRC), the UK’s independent regulator responsible for promoting confidence in corporate reporting and governance, has published its Actuarial Quality Framework. The Framework has been prepared following consultation on the FRC’s discussion paper, Promoting Actuarial Quality, issued in May 2008, and the Professional Oversight Board’s accompanying paper, Monitoring and Scrutiny of Actuarial Work.
The FRC recognises that actuarial quality is a dynamic concept and that the drivers and indicators of actuarial quality may change over time. It will therefore periodically review the Framework in light of comments received.
The Framework, along with background material, is available on the FRC Web Site.
The FRC is inviting comments on the Framework by 31 December 2009; see the web site for more details.