#20 a
Hello, I am having a hard time understanding exactly what wording to use in the identification section of the SAO after the changes to the definition of "qualified actuary". Is this answer outdated, or do you have to merely state you are a qualified actuary, but not what makes you a qualified actuary since that information is provided to the board annually separately from the SAO?
Comments
It is true that the AA must now provide documentation/proof that they are qualified to the Board of Directors once upon appointment (as opposed to every year in the prior requirements), but that doesn't change the wording in the SAO itself. You must state you are a qualified actuary but you do not have to submit all the proof/documentation as part of the SAO.
The identification section must include the AA's name & title/relationship to company, who appointed them & when and a statement that they meet the requirements of being a qualified actuary (NOT proof - just a statement that they are qualified). At our company, we specifically state the AA's credentials (FCAS and AAA).
Thanks. that helps a lot!