The Academy, in 1988, created the Actuarial Standards Board (ASB) as an independent entity, supported by AAA staff.

[1] The ASB serves as the single board promulgating standards of practice for the entire actuarial profession in the United States.

The ASB was given sole authority to develop, obtain comment upon, revise, and adopt standards of practice for the actuarial profession.

In some cases the Academy provides formal written or oral testimony to Congress or other governmental bodies.

[8] On occasion, the Academy has submitted amicus briefs on court cases that are of interest to the actuarial profession.