■ Topic: Actuarial Practice Standards - General Actuarial Practice / Guidelines that must be generally followed when performing actuarial work

■ Purpose of establishment: To provide guidelines to actuaries performing actuarial services to give users confidence in the following matters

○ Actuarial services are performed professionally and with significant attention.
○ The results meet the user's needs and are presented and completed in a clear and easy-to-understand manner.
○ Assumptions and methodologies (including models and modeling techniques) used are appropriately disclosed.

■ Main contents

(1) General: Purpose, scope, reasonable judgment, etc.
(2) Appropriate Practices: Data quality, assumptions and methodology, assumption management, model management, etc.
(3) Communication: General principles, report disclosure, etc.