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Notice of Intent to Review the General Standards of Practice (Part 1000) Portion Related to Peer Review

The Actuarial Standards Board (ASB) has established a designated group (DG) to review the standards of practice related to peer review. Currently, peer review is not an explicit requirement set forth in the Canadian actuarial standards of practice. Standards that are related to peer review are contained mainly in section 1640, Review or repeat of another actuary’s work. Section 1640 is not focused on the general requirement for peer review of [actuarial] work but instead is directed at the engagement, cooperation, and discussion between the first actuary (i.e., the actuary whose work is reviewed or repeated) and the reviewer (i.e., the actuary engaged to review or repeat the first actuary’s work), and reporting.

As a result of emerging practice internationally, the ASB believes it is valuable to consider whether the current Canadian standards related to the review of actuarial work should be strengthened.

Parties wishing to comment on this NOI should direct those comments to Chris Fievoli at chris.fievoli@cia-ica.ca and Jacqueline Friedland at jacqueline.friedland@rsagroup.ca by October 31, 2017.

Link(s)
Council/Committee
Actuarial Standards Board/Designated Group
Contact with Questions Jacqueline Friedland, Chair, designated group at jacqueline.friedland@rsagroup.ca
Announcement Number
2017-09(03875)
September 6, 2017