ACSC 533 Lecture Notes - Lecture 30: International Actuarial Association
20 Mar 2018
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Document Summary
The actuarial profession is more international than are many other professions. Most professions have multi-national conferences and education societies to facilitate the exchange of ideas. But generally their services are provided only in their local environment, and any standards of practice they develop only have to apply to the local jurisdiction. Doctors, for example, usually only treat patients in their local area. But some professions, notably actuaries and accountants, may be involved in advising multinational corporations which operate in many countries. Founded in 1895, the international actuarial association (iaa) serves as a forum to enable the actuarial profession to deal with international level issues. It is an umbrella association of professional actuarial bodies around the world. The criteria for an organization to become a full member of the iaa encapsulate many of the key features that a body must have: If it issues written standards of practice, an acceptable procedure for drafting and enforcing the standards.
