As recommended by the Morris Review the main priority of the BAS is to develop a conceptual framework of the concepts and principles underlying actuarial work. We published a preliminary consultation in April 2007 and a full consultation in November 2007.
Each individual Board member has an allocated role, as follows:
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Risk group:
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Jerome Nollet, with Harold Clark and Steve Haberman
For further details of the work of this group click here…
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Value group:
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Lawrence Churchill, with Mike Arnold and Martin Weale
For further details of the work of this group click here…
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Stakeholder Interests group:
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Dianne Hayter, with Julian Lowe and Christopher Daws
For further details of the work of this group click here…
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Publications:
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Derek Wanless, with Tom Ross and David Blackwood
This group focussed on how the outputs of the various groups and of the other work streams could be brought together into a coherent whole in the consultation papers.
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The FRC is most grateful for the major contribution of the many practitioners, both on the Board and on the working groups, towards publishing our consultation papers. The project is breaking new ground for actuarial practice in the UK, and our projected timescale is extremely ambitious compared with similar projects undertaken by the US actuarial profession and by accountancy bodies both in the UK and internationally.
The FRC is committed to involving as wide a range of stakeholders as possible in its work of overseeing the Actuarial Profession. Accordingly, the Professional Oversight Board, in conjunction with the BAS, is developing a discussion paper on Promoting Actuarial Quality for later in the year.
