Code of professional conduct

[dimpy.handa]

On October 15, 2000, the SOA Board of Governors adopted a revised Code of Professional Conduct as presented by the Joint Committee on the Code of Professional Conduct to be applicable to all Fellows and Associates of the Society of Actuaries effective January 1, 2001.

The Code of Professional Conduct sets forth what it means for an actuary to act as a professional. It identifies the responsibilities that actuaries have to the public, to their clients and employers, and to the actuarial profession.

Certified Public Accountants have imposed on themselves a rigorous code of professional conduct. Discuss the reasons for the accounting profession's adopting a code of professional conduct.

 

[swatiraohnlu]

The Precepts of the Code identify the professional and ethical standards with which an Actuary must comply in order to fulfill the Actuary's responsibility to the public and to the actuarial profession. The Annotations provide additional explanatory, educational, and advisory material on how the Precepts are to be interpreted and applied.

At all times the actuary should keep current with the Code as well as the applicable law in the territory in which the Actuary is providing his services.