Question to the HM Treasury:

To ask Her Majesty's Government whether a separate assessment has been made of the (1) proportionality, and (2) cost, of proposed reforms to actuarial regulation, distinct from the audit profession, in the transition from the Financial Reporting Council (FRC) to the Auditing, Reporting and Governance Authority (ARGA).

HM Government consulted publicly on its proposals to reform the regulation of the actuarial profession in chapter 11.2 of its White Paper ‘Restoring trust in audit and corporate governance’. As part of the consultation process, the Government has held discussions with a range of actuarial stakeholders.

The Government is considering the responses to its consultation and will respond in due course.