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IAI Actuarial Core Principles · Business Management · Characteristics of a profession and the Actuaries' Code

Anita, an actuary, discovers that a colleague at another firm, also an IAI member, has signed a certificate using a mortality table that was withdrawn by the profession as unsuitable, without disclosure. Anita has no direct client link. Which course is most appropriate?

Anita should first raise the matter with her colleague where practical and, if it is unresolved, consider reporting it to the IAI through its disciplinary process. This is proportionate and protects the profession's reputation. Ignoring it, publicising it, or waiting for losses is inappropriate.

  1. AIgnore it, because she has no client relationship with the matter
  2. BPost the allegation publicly on social media to protect the public
  3. CRaise it with the colleague first where practical, and if unresolved consider reporting to the IAI under its disciplinary processCorrect
  4. DReport to the colleague's client directly, bypassing the IAI
  5. Wait until the colleague's work causes a financial loss

Explanation

Members are expected to uphold the standing of the profession and to act on suspected misconduct in a proportionate way: usually raising it with the person, then using the IAI's process. Public accusations and ignoring the issue are both inappropriate, and waiting for loss is not required.

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