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ASB Adopts ASOP No. 46 (ERM Risk Evaluation)The ASB recently adopted ASOP No. 46, Risk Evaluation in Enterprise Risk Management. The ASOP provides guidance to actuaries when performing professional services with respect to risk evaluation systems used for the purposes of enterprise risk management, including designing, implementing, using, and reviewing those systems. This standard also focuses on five aspects of risk evaluation: risk evaluation models, economic capital, stress testing, emerging risks, and other risk evaluations. The effective date for ASOP No. 46 is May 1, 2013. The ASOP can be viewed on the ASB website under the tab "Current Actuarial Standards of Practice" at: http://www.actuarialstandardsboard.org. |
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Actuarial Standards Board |