THE INTERNATIONAL ACTUARIAL ASSOCIATION Actuaries serving the public interest.

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Presentation transcript:

THE INTERNATIONAL ACTUARIAL ASSOCIATION Actuaries serving the public interest

INTERNATIONAL ACTUARIAL ASSOCIATION founded in 1895 as - Comité permanent des Congrès d’actuaires members were individual actuaries main role was to organise congresses special interest sections - ASTIN and AFIR name changed to IAA in 1968 new constitution - June 1998

THE NEW IAA association of associations focus on professionalism aim is to create a global profession development of quality and standards active and responsive committee structure scientific sections for individual members

ACCREDITATION CRITERIA To be a full member an association must have an adequate code of conduct a robust disciplinary process due process for adopting standards of practice education commitment for 2005 payment of membership subscription

MISSION OF IAA To encourage the development of a global profession, acknowledged as technically competent and professionally reliable, which will ensure that the public interest is served

IAA COMMITTEES Accreditation Advice & Assistance Education Insurance Accounting Standards Pension Accounting Standards Insurance Regulation Social Security Financial Risk Services for Individual Members Professionalism Supranational Nominations Audit

INTERNATIONAL CONTACTS International Social Security Association (ISSA) Intnl. Association of Insurance Supervisors (IAIS) Intnl. Accounting Standards Board (IASB) International Labour Office (ILO) World Health Organisation (WHO) World Bank International Monetary Fund (IMF)

INSURANCE ACCOUNTING STANDARDS represented on Insurance Steering Group close working relationship with IASB key opportunity to influence standard extensive comments on disclosure draft developing actuarial standard of practice discussions also with IAIS

IAA EDUCATION GUIDELINES AND SYLLABUS adopted by IAA in June 1998 requirement for Full Member associations... … from 2005 onwards sets educational benchmark for profession supports mutual recognition of qualifications provides guidance for new courses

ACTUARIES - THE FIRST GLOBAL PROFESSION? THE INTERNATIONAL ACTUARIAL ASSOCIATION IAA/AAI