The Board for Actuarial Standards (BAS) has launched a new technical actuarial standard on data (TAS D).
Jim Sutcliffe, chairman of the BAS, explained that the new rule is generic and is focused on addressing some key issues in the field.
He said: "It aims to ensure that data on which actuarial information is based is reliable and that any limitations in data are fully understood by users."
The publication of TAS D forms part of the BAS's move towards new outcome-focused standards and will come into force from July 2010.
A generic standard on modelling is also set to be published in the near future, while targeted standards on actuarial work for insurance and pensions are also in the pipeline.
Earlier in 2009, BAS published its first principles-based standard which was aimed at demystifying work in the field.
TAS R: Reporting Actuarial Information will come into effect from April 2010.
Show me Project Accountant jobs.
