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Questions and answers

How does a member of the public enquire about the qualifications or report on the conduct of an actuary?

All members of the Canadian Institute of Actuaries (CIA) are bound by the CIA’s Bylaws and Rules of Professional Conduct.

Should a member of the public wish to enquire about the qualification or report on the conduct of an actuary, they should contact the Executive Director of the CIA at executive.director@cia-ica.ca or the Chair of the APOB at chair@apob-cspa.ca.

How are APOB members selected?

Most APOB members are recruited by APOB's Nominating Committee and appointed by APOB. A maximum of three APOB members are selected and appointed by the Board of the Canadian Institute of Actuaries.

All APOB members are selected in accordance with a skills matrix approved by both APOB and the CIA Board, to reflect a broad cross-section of many backgrounds and points of view. The majority of APOB members are non-actuaries. All APOB members are volunteers.

How are members of the boards under APOB’s oversight selected?

The members of the boards under APOB’s oversight (i.e., Actuarial Standards Board (ASB), Professional Conduct Board (PCB) and Professionalism and Credential Monitoring Board (PCMB)) are appointed by APOB. The membership of the boards will always be composed of a two-thirds majority of actuaries (CIA members). Members are selected to ensure that each board has an appropriate balance of competencies and experiences in various areas of actuarial practice. All members of the boards are volunteers.

Does APOB adopt actuarial standards of practice?

No. It is not within APOB’s mandate to adopt actuarial standards of practice as this requires technical expertise and thus is under the authority of the ASB. APOB oversees the process leading to the adoption of actuarial standards of practice and makes sure that it is responsive to the public interest. APOB provides input to the ASB, primarily in terms of strategic direction and priority-setting. APOB has control over the ASB because it has authority over the appointment of its members and the establishment of its terms of reference. APOB, however, does not have the authority to adopt actuarial standards of practice.

Does APOB set qualification standards (e.g., continuing professional development (CPD) requirements) for Canadian actuaries?

No. It is not within APOB’s mandate to set qualification standards. The Professionalism and Credential Monitoring Board (PCMB) has that authority and responsibility. APOB oversees the process leading to the development and setting of qualification standards such as CPD requirements for members of the CIA, and makes sure that the process followed by the PCMB is responsive to the public interest. APOB has control over the PCMB because it has authority over the appointment of its members and the establishment of its terms of reference. APOB, however, does not have the authority to set qualification standards.

Are APOB meetings open to the public?

APOB plans to hold three or four meetings every year, at least one of which will be open to the public. A report following every meeting is made public and is available on the APOB website. For more information please contact info@apob-cspa.ca.

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Questions regarding actuarial issues in Canada can be addressed to one of the following e-mail addresses:

Actuarial Profession Oversight Council (APOB) – info@apob-cspa.ca

Canadian Institute of Actuaries (CIA) – head.office@cia-ica.ca