All actuarial work within i.e. Muhanna & co. (Actuaries and Consultants) is carried in line with International Professional Standards. For retirement benefit schemes services, all work is carried out as per the Society of Actuaries, the Institute of Actuaries and the Cyprus Association of Actuaries guidelines. In addition, we apply the International Actuarial Association (IAA) guidelines for social insurance systems. Furthermore, the firm has adopted more rigorous standards in order to ascertain continuous provision of quality services. 

Our quality procedures for large actuarial projects are based on internal general guidelines

  • Obtaining clear instructions from clients.
  • Ensuring adequate resources are available to carry out those instructions.
  • Ensuring that team assigned to the project has the necessary briefing and delegation skills so that tasks are carried out at the right level.
  • Tight control of signing powers.
  • Maintenance of client records demonstrating clear work trails.
  • Peer review of the technical content of all client advice by an external advisor or a Senior Actuary before it is released in final form to the client.
  • Clear communication of results to clients. 

Our quality procedures are monitored by regular quality audits and technical reviews to ensure that those standards are maintained. The procedures are reinforced by working practices that include regular reviews of the progress of ongoing client work against agreed timescales.
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