The ASB approved an exposure draft of a revision of ASOP No. 32, Social Insurance. The standard applies to actuaries when performing actuarial services when the actuary’s principal is a government agency with responsibility for the valuation of a Social Insurance Program. The standard also applies to actuaries with oversight responsibility for the actuarial services for Social Insurance Programs when serving as an auditor, reviewer, a member of an actuarial advisory committee, or a member of a technical panel. ASOP No. 32 was originally adopted in January 1998 and updated only for deviation language in 2011. In 2016, the ASB reviewed ASOP No. 32 and appointed a task force to further review and produce an exposure draft of a revised standard. The reasons for the revision included updating guidance to reflect changes in government programs as well as in standards in related practice areas that have evolved significantly since 1998. The comment deadline for the exposure draft, which can be viewed under the “Drafts” tab in “Current Exposure Drafts”, is Feb. 1, 2019. Information on how to submit comments can be found in the draft.
