THE INTERNATIONAL ACTUARIAL ASSOCIATION

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THE INTERNATIONAL ACTUARIAL ASSOCIATION

• Actuaries serving the public interest

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INTERNATIONAL ACTUARIAL ASSOCIATION

• founded in 1895 as - Comité permanent des
  Congrès dactuaires
• 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

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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

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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

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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

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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

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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)

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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

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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

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ACTUARIES - THE FIRST GLOBAL PROFESSION?

• THE INTERNATIONAL ACTUARIAL ASSOCIATION
• IAA/AAI