12. Under the U.S. Qualification Standards (USQS), what constitutes a Statement of Actuarial Opinion (SAO), in the case of both private sector and public sector actuaries??
Question
12. Under the U.S. Qualification Standards (USQS), what constitutes a Statement of Actuarial Opinion (SAO), in the case of both private sector and public sector actuaries?
For purposes of the USQS, an SAO is “an opinion expressed by an actuary in the course of performing Actuarial Services and intended by that actuary to be relied upon by the person or organization to which the opinion is addressed” (Section 1).
“Actuarial Services” are defined in the Code of Professional Conduct as “Professional services provided to a Principal [client or employer] by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings, or opinions based upon actuarial considerations.”
Appendix 1 to the USQS describes SAOs and lists examples of commonly issued opinions and work products and whether or not they are SAOs. Appendix 1, Section III, also describes generally what types of actuarial work involving government or other public sector actuaries may be considered SAOs.
Last updated December 2014
“Actuarial Services” are defined in the Code of Professional Conduct as “Professional services provided to a Principal [client or employer] by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings, or opinions based upon actuarial considerations.”
Appendix 1 to the USQS describes SAOs and lists examples of commonly issued opinions and work products and whether or not they are SAOs. Appendix 1, Section III, also describes generally what types of actuarial work involving government or other public sector actuaries may be considered SAOs.
Last updated December 2014
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