A former constituent body of the Financial Reporting Council (FRC), which was responsible for setting actuarial standards independently of the actuarial profession. On 2 July 2012, responsibility for oversight of the UK actuarial profession and the independent setting of technical actuarial standards passed to the FRC which now deals with these matters through the Accounting Council of the FRC's Codes and Standards Committee.

For more information, see the FRC website (Financial Reporting Council).