- Froogled By:
- Elias Makere, FSA, MAAA
- Last Froogled:
ASOP 1 | §4.1 | ASOPS ARE BINDING
Failure to comply with an applicable ASOP results in a breach of the Code. Such breaches subject the actuary to the profession’s counseling and discipline processes.
ASOP 1 | Commentary Section | COMMENT ON SECTION 4.1
| Comment | Response |
|---|---|
| A commentator found this confusing, saying that you can deviate from an ASOP if you disclose the deviation, so failure to comply with an ASOP is not a breach of the Code. Another commentator suggested adding information to further clarify that deviations, with appropriate disclosures, are permitted. | The reviewers note that the deviation from the guidance in an ASOP and disclosing the deviation is not a failure to comply with the ASOP, as discussed in section 4.5. Accordingly, no substantive changes were made in response to these comments, although the second sentence in this section was simplified. |
| Some commentators believe this section belongs in the appendix, not the body of the ASOP, because it doesn’t tell the actuary to do anything. | Failure to comply with the ASOPs results in a breach of the Code. The reviewers believe this is an important point that belongs in the body of the Introductory ASOP. Therefore, no change was made. |
| A commentator suggested adding “may” before “subject the actuary” in the sentence “Such breaches subject the actuary to the profession’s counseling and discipline processes.” | The reviewers note that a breach subjects the actuary to ABCD processes, even though it may not result in ABCD action. Therefore, no changes were made. |
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