The Applicability Guidelines are not standards of practice. The Actuarial Standards Board has not promulgated the guidelines, nor are they binding on any actuary. Ultimately, it remains the actuary’s responsibility to identify the standard(s) that apply to each assignment.
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About The ASB
The Actuarial Standards Board (ASB) establishes and improves standards of actuarial practice. These Actuarial Standards of Practice (ASOPs) identify what the actuary should consider, document, and disclose when performing an actuarial assignment. The ASB’s goal is to set standards for appropriate practice for the United States.