About the ASB | Actuarial Standards Board
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Terms of Reference

1. The Mission

The mission of the Actuarial Standards Board (ASB) shall be to develop, establish, and maintain standards of practice governing actuarial practice in Canada.

2. Objectives

The ASB shall have the following objectives:

3. Responsibilities

The ASB shall have the following responsibilities:

4. Accountability

The ASB shall be accountable to the ASOC to demonstrate that it has fulfilled its mandate, as described in these terms of reference, effectively and efficiently.

5. Composition and Term

6. Meetings

7. Decision Making

8. Communication

9. Reporting

10. Terms of Reference

The ASB shall, at a minimum every three years, or more frequently as required, review its Terms of Reference and operating procedures in order to ensure that they continue to meet the needs of the ASB, ASOC, and CIA. The results of the ASB’s review of its Terms of Reference, as well as any recommendations for amendment, shall be submitted to the CIA Board and to the ASOC. All such amendments to the Terms of Reference of the ASB shall require the approval of both the ASOC and the CIA Board.

11. Bilingualism

The ASB shall follow the CIA’s Bilingualism policy.

12. Expenses

A budget for funding of reasonable and necessary expenses for the ASB shall be established by the CIA. Any material additional spending would require further approval by the CIA.

 

Approved by the CIA Board, June 2012, and ASOC, September 2012