This ISAP provides guidance to actuaries when performing actuarial services involving ERM programs that are within the scope of regulations consistent with two of the ICPs of the International Association of Insurance Supervisors, namely Risk
Management and Internal Controls (ICP 8) and Enterprise Risk Management for Solvency Purposes (ICP 16). It is expected to help increase public confidence in the ERM work provided by actuaries by giving intended users confidence that:
• Actuarial services are carried out professionally and with due care;
• The results are relevant to their needs, are presented clearly and understandably, and are complete; and
• The assumptions and methodology used are disclosed appropriately.