Statements of Principles
The CAS Statements of Principles are intended to provide a conceptual foundation for common actuarial applications, and to assist actuaries where actuarial concepts are evolving, adapting to practical needs, or incorporating advances in actuarial practice, actuarial science or in other disciplines relevant to the work of actuaries. The CAS Statements of Principles are not intended to limit or constrain actuarial practices. In general, these Statements are not considered to be prescriptive practice guidance, such as actuarial standards of practice, rather they are meant to address principles in terms of definitions and concepts. Practicing actuaries should ensure that they comply with relevant laws, regulations, standards or other requirements, which may refer to, or include content from, current or rescinded versions of the CAS Statements of Principles. In addition, CAS members are subject to our Code of Professional Conduct, which refers to “professional judgment, taking into account generally accepted actuarial principles and practices,” where there is not an applicable standard of practice.