The actuaries’ code sets the overriding principles for all actuaries. The Government Actuary’s Department (GAD) additionally applies its own principles to any actuarial work undertaken by the department.
The GAD principles are the considerations the department expects its actuaries to take account of, including:
- required knowledge and experience
- client needs and objectives
- potential conflicts of interest
- clarity of communication
- quality of data
- accuracy of modelling and calculations
The principles are designed to ensure GAD’s actuarial work is of sufficiently high quality for private and public sector clients.