actuarial standards of practice

Actuarial Standards of Practice are guidelines that actuaries follow to ensure their work is consistent, accurate, and professional. They provide a framework for analyzing data, making assumptions, and presenting results responsibly. These standards help guarantee that actuarial work—like valuing insurance policies or estimating pension liabilities—is reliable and transparent, maintaining public trust and supporting informed decision-making by clients and regulators. In essence, they set the rules for good actuarial practice to ensure quality and integrity in the field.