APS X2: Review of Actuarial Work
APS X2 imposes a requirement on members:
- to consider whether it would be appropriate and proportionate to apply a process of ‘work review’ to actuarial work for which they are responsible
- to apply such a review to the extent appropriate and proportionate
- to consider, in particular, whether that review process should take the form of independent peer review and, if so, to the extent appropriate and proportionate, to apply independent peer review
- to take a range of steps in relation to those involved in the review process
- to undertake the review carried out in terms of the requirements of APS X2 at a time such as to be capable of influencing the conclusions and outputs of the work
- to ensure they are in a position to justify the position they have taken in relation to the application of work review for the purpose of this APS.
The term ‘work review’ is given a wide definition in APS X2 and is intended to reflect a range or spectrum of different types of possible review that might be deemed appropriate and proportionate in the context of different types of work.
At one end of the spectrum, ‘independent peer review’ will in some situations be appropriate; in others, a less rigorous form of quality review will be sufficient.
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