Please enable JavaScript.
Coggle requires JavaScript to display documents.
Code ofProfessional Conduct - Coggle Diagram
Code of
Professional Conduct
Qualification Standards
Perform Actuarial Services when qualified.
Follow recognized qualification standards.
Stay updated on standard changes.
Professional Integrity
Act with honesty, integrity, and competence.
Perform services skillfully and carefully.
Avoid actions violating the law or harming profession's reputation.
Refrain from using relationships for improper treatment.
Uphold professional conduct, avoiding dishonesty and fraud.
Standards of Practice
Ensure actuarial services meet applicable standards.
Follow standards set by Recognized Actuarial Organizations.
Exercise professional judgment in the absence of specific standards.
Justify any departures from established standards.
Communications and Disclosure
Ensure clear, appropriate Actuarial Communication.
Must transparently disclose all material compensation sources to client or employer.
Conflict of Interest
Avoid conflicts of interest.
Exceptions require the Actuary's fair ability, disclosure to affected client or employer, and their explicit agreement.
Control of Work Product
Must prevent from misleading others.
Present Actuarial Communications clearly and fairly.
Include limitations on distribution when necessary.
Confidentiality
Must not disclose confidential information without permission or legal obligation.
Courtesy and Cooperation
Act with courtesy and cooperation.
Discuss differences respectfully.
Client or employer can choose any advisor.
May express alternative opinions when beneficial.
Consultation with another Actuary requires client or employer consent.
Cooperation with a new Actuary is mandatory upon client or employer consent.
Advertising
Must avoid false or misleading advertising.
Includes all communications influencing decisions on the need for Actuarial Services or the selection of a specific Actuary or firm.
Titles and Designations
Use recognized titles and designations as authorized.
"Title" refers to a specific position.
"Designation" indicates membership status.
Violations of the Code of Professional Conduct
Must try to resolve apparent Code violations through discussion.
If unsuccessful, disclose the violation to the appropriate body, unless prohibited by law or confidentiality.
Must fully cooperate and respond truthfully to disciplinary body requests, considering confidentiality and legal restrictions.