Update 32 was issued to members on 24 October.
The Professional Standards Directory (bit.ly/IWaytE) is designed to permit members and others to access the IFoA Actuarial Profession Standards, together with the current Financial Reporting Council Standards.
Actuarial Profession Standard X3: The Actuary as an Expert in Legal Proceedings
The IFoA consulted upon a proposal to introduce a new Actuarial Profession Standard (APS) relating to actuaries instructed as expert witnesses or expert advisers in legal proceedings. We have now approved the introduction of the standard and the accompanying guide.
Version 1.0 of APS X3 (bit.ly/1tySzL5) comes into effect on 1 January 2015. This replaces the existing Information and Assistance Note: The Actuary as an Expert Witness, which will be withdrawn at the same time.
The APS is accompanied by a detailed guide (bit.ly/1uWJ2oz), which is intended to assist those who are instructed as expert witnesses or expert advisers, as well as those thinking about accepting such instructions. The guide is focused primarily upon UK legal proceedings, but we anticipate that the guidance might be useful in other jurisdictions as well.
If you have any questions about the introduction of APS X3, please email [email protected]