P rofessionalism N ews
Professionalism Outreach
A
CADEMY IMMEDIATE PAST PRESIDENT Tom Wild-
smith presented on “Developments in Actuarial Professionalism 2016” to more than 250 attendees of the annual meeting of the Actuarial Society of New York on Nov. 9 in New York City. He discussed the basic structures and key elements of U.S. actuarial professionalism, developments in actuarial professionalism, and tools and resources that are available to help actuaries keep up to date on professionalism. Also on Nov. 9, at a meeting of the Actuaries Club of Boston, Academy Secretary/Treasurer and Committee on Qualifications member Tom Campbell delivered a professionalism presenta-
tion with a focus on changing, or qualifying for emerging, practice areas as well as the Academy’s U.S. Qualification Standards Attestation Form. Actuarial Board for Counseling and Discipline member David Driscoll spoke at the Actuaries’ Club of Hartford & Springfield in Hartford, Conn., on Nov. 10, the same day that Academy General Counsel and Director of Professionalism Paul Kollmer-Dorsey provided a professionalism update at the Middle Atlantic Actuarial Club’s fall meeting outside of Baltimore. Kollmer-Dorsey also presented an update to the Iowa Actuarial Club in Des Moines on Nov. 29.
ASB Adopts Final Revision of ASOP No. 21
T
HE ACTUARIAL STANDARDS
Board (ASB) adopted a final revision of Actuarial Standard of Practice (ASOP) No. 21, Responding to or Assisting Auditors or Examiners in Connection with Financial Audits, Financial Reviews, and Financial Examinations, which was
promulgated in 2004. A key change reflected in the revision includes expanding and clarifying the applicability of the ASOP to financial audits, financial reviews, and financial examinations relative to current practices, especially the risk-focused and prospective view used
Committee on Qualifications Adds New FAQs
T
O FURTHER ASSIST the profession’s understanding
of the requirements of the U.S. Qualification Standards (USQS), the Committee on Qualifications has added two new questions to the robust set of Frequently Asked Questions (FAQs) on the USQS. The first (now Question 10) addresses actuaries changing practice areas. The second (now Question 19) deals with the experience required under the Specific Qualifications.
in these financial audits, financial reviews, and financial examinations. ASOP No. 21 will be effective for any actuarial work in connection with a financial audit, financial review, or financial examination for fiscal periods beginning on or after Dec. 15, 2016.
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