At the beginning of October we were very pleased to launch a consultation on a proposed new Actuarial Professional Standard (APS X3: Actuary as an Expert) which is designed to assist those of our members instructed as experts in legal proceedings. We have also produced an accompanying detailed Guide.
The aim is to provide some clear principles for work in this area along with some helpful practical guidance for members who might be instructed in this sort of work. The APS and Guide will replace the existing Information and Assistance Note (IAN): 'The Actuary as an Expert Witness'.
The proposed new standard introduces high-level, principles-based requirements for members instructed as an expert witness or expert advisor in relation to proceedings in the UK, covering not only instructions in relation to civil court cases but also other types of proceedings, such as disciplinary hearings and tribunals.
Of course, we recognise that many of our members are based outside of the UK so the detail of the provisions may not be appropriate to apply. However, we propose that those members should be required to follow the spirit of the APS.
The draft Guide contains more detailed practical guidance for members and has drawn upon the experience of members of the working party and review group to create material that provides useful assistance to those instructed in legal proceedings or who are considering accepting an instruction to act.
We would encourage you to read the proposals and give us your views by 9 December. A link to an online version of the consultation package and the questionnaire can be found on the IFoA's website: tinyurl.com/oorubvh.