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) sets standards for appropriate actuarial practice in the United States through the development and promulgation of Actuarial Standards of Practice (ASOPs). These ASOPs describe the procedures an actuary should follow when performing actuarial services and identify what the actuary should disclose when communicating the results of those services.