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IAI Actuarial Core Principles · Business Management · Activities of the Institute of Actuaries of India

The IAI Council wants to examine complaints of professional misconduct against members and also to review the syllabus for the Core Principles exams. Which approach is consistent with how the IAI organises its work?

The IAI uses specialised committees or boards reporting to the Council, for example one dealing with discipline and another with education and the syllabus. This separation of functions suits different expertise and keeps disciplinary work independent of exam matters.

  1. ASet up separate committees or boards for discipline and for education, each reporting to the CouncilCorrect
  2. BAsk a single committee to handle both tasks to avoid any specialisation
  3. CPass both tasks to the Government, since the Institute cannot form committees
  4. DLeave both tasks to the examination candidates themselves
  5. Hand the disciplinary work to an external private company with no link to the Institute

Explanation

The IAI works through a Council supported by specialised committees and a disciplinary framework, with separate bodies for areas such as education and discipline. Combining unrelated tasks, outsourcing discipline entirely, or giving them to candidates is inconsistent with this structure and with natural justice.

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