Froogle | ASOP 1 | Commentary on Appendix 1

ASOP 1
(INTRODUCTORY ACTUARIAL STANDARD OF PRACTICE)
COMMENTS & RESPONSES ON APPENDIX 1 OF THE EXPOSURE DRAFT

Appendix 1
Background and Additional Information

ASOP 1 | Commentary Section | COMMENT ON APPENDIX 1

Comment	Response
A commentator objected to the use of the phrase “to better define” in the first sentence.	The reviewers agree and replaced the phrase “to better define” with “to clarify” in the first sentence.
A commentator indicated that the sentence below belongs in the body of the ASOP, not in appendix 1, because the commentator believes it is requiring the actuary to do something. “Because the ASOPs are not overly prescriptive, and allow for disclosed deviations, the ASOP framework is designed to accommodate the actuary’s providing high quality actuarial services and acting with integrity, taking all appropriate considerations into account.”	The reviewers do not believe this sentence adds any guidance and, therefore, made no change.

Comment

Response

A commentator objected to the use of the phrase “to better define” in the first sentence.

The reviewers agree and replaced the phrase “to better define” with “to clarify” in the first sentence.

A commentator indicated that the sentence below belongs in the body of the ASOP, not in appendix 1, because the commentator believes it is requiring the actuary to do something.

“Because the ASOPs are not overly prescriptive, and allow for disclosed deviations, the ASOP framework is designed to accommodate the actuary’s providing high quality actuarial services and acting with integrity, taking all appropriate considerations into account.”

The reviewers do not believe this sentence adds any guidance and, therefore, made no change.

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