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The Actuary The magazine of the Institute & Faculty of Actuaries

Profession has work to do, says Oversight Board

The Report includes comments on POB's responsibilities for non-statutory oversight of the regulation of actuaries and accountants by their professional bodies.

Among its conclusions, POB says that the Actuarial Profession's response to its recommendations on the regulation of practising actuaries and on quality controls at actuarial firms has started to take shape, although further work is needed.

John Kellas, interim chairman of POB, said: "This year for the first time we name in the report the individual regulatory bodies to which our principal findings and recommendations apply. We welcome the profession's support for this development which will bring greater transparency. We hope that this publicity will provide even more encouragement to the bodies to respond to the Oversight Board's concerns positively and in a timely way."

Read the full report.