# ASOP 56 - Modeling **URL:** \ **Category:** General topics\ **Created:** [April 23, 2021, 11:31am UTC](https://community.goactuary.com/t/asop-56-modeling/2718 "2021-04-23T11:31:23Z")\ **Posts on this page:** 9\ **Page:** 1
**Author:** ![meep](https://community.goactuary.com/user_avatar/community.goactuary.com/meep/32/44_2.png) [@meep](https://community.goactuary.com/u/meep)\ **Post date:** [April 23, 2021, 11:31am UTC](https://community.goactuary.com/t/asop-56-modeling/2718/1 "2021-04-23T11:31:23Z")
[https://www.soa.org/sections/modeling/modeling-newsletter/2021/april/mp-2021-04-campbell/](https://www.soa.org/sections/modeling/modeling-newsletter/2021/april/mp-2021-04-campbell/) From my article: > If nothing else, having a checklist to go through while working on modeling can help you make sure you don’t miss anything. Hey, ASB, make some handy-dandy sticky note checklists we can stick on our monitors to ask us: > > 3.1 Does our model meet the intended purpose? > > 3.2 Do we understand the model, especially any weaknesses and limitations? > > 3.3 Are we relying on data or other information supplied by others? > > 3.4 Are we relying on models developed by others? > > 3.5 Are we relying on experts in the development of the model? > > 3.6 Have we evaluated and mitigated model risk? > > 3.7 Have we appropriately documented the model? ASOP 56 has been in effect since October 2020 for U.S. actuaries… might behoove y’all to review it. ---
**Author:** ![NormalDan](https://community.goactuary.com/user_avatar/community.goactuary.com/normaldan/32/1013_2.png) [@NormalDan](https://community.goactuary.com/u/NormalDan)\ **Post date:** [April 23, 2021, 12:33pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/2 "2021-04-23T12:33:34Z")
Reading ASOPs? It’s not December yet :judge: ---
**Author:** ![meep](https://community.goactuary.com/user_avatar/community.goactuary.com/meep/32/44_2.png) [@meep](https://community.goactuary.com/u/meep)\ **Post date:** [April 23, 2021, 12:38pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/3 "2021-04-23T12:38:35Z")
Well, if you’re modeling and not following ASOP 56, I’m calling the ABCD on you! ---
**Author:** ![NormalDan](https://community.goactuary.com/user_avatar/community.goactuary.com/normaldan/32/1013_2.png) [@NormalDan](https://community.goactuary.com/u/NormalDan)\ **Post date:** [April 23, 2021, 12:54pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/4 "2021-04-23T12:54:03Z")
You’ll have to catch me first!! ---
**Author:** ![John.S.Mill](https://community.goactuary.com/user_avatar/community.goactuary.com/john.s.mill/32/9771_2.png) [@John.S.Mill](https://community.goactuary.com/u/John.S.Mill)\ **Post date:** [April 23, 2021, 2:48pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/5 "2021-04-23T14:48:59Z")
going to guess most actuaries fail on 3.7 ---
**Author:** ![Tiffany](https://community.goactuary.com/user_avatar/community.goactuary.com/tiffany/32/7975_2.png) [@Tiffany](https://community.goactuary.com/u/Tiffany)\ **Post date:** [April 23, 2021, 3:19pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/6 "2021-04-23T15:19:04Z")
My, uh, company has a solution for this :tfh:. I do a great MRM demo ftr. ---
**Author:** ![Lucy](https://community.goactuary.com/user_avatar/community.goactuary.com/lucy/32/8802_2.png) [@Lucy](https://community.goactuary.com/u/Lucy)\ **Post date:** [April 24, 2021, 3:39pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/7 "2021-04-24T15:39:00Z")
> [@John.S.Mill](#): > > going to guess most actuaries fail on 3.7 I put a lot of work into this one, actually. ---
**Author:** ![S.Morgenstern](https://community.goactuary.com/user_avatar/community.goactuary.com/s.morgenstern/32/29540_2.png) [@S.Morgenstern](https://community.goactuary.com/u/S.Morgenstern)\ **Post date:** [April 24, 2021, 11:31pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/8 "2021-04-24T23:31:06Z")
> [@NormalDan](#): > > Reading ASOPs? It’s not December yet Meep has several copies near the toilet . . . ---
**Author:** ![meep](https://community.goactuary.com/user_avatar/community.goactuary.com/meep/32/44_2.png) [@meep](https://community.goactuary.com/u/meep)\ **Post date:** [August 25, 2021, 12:12pm UTC](https://community.goactuary.com/t/asop-56-modeling/2718/9 "2021-08-25T12:12:02Z")
from a different org: > **[Intro to Financial Modelling - Part 19: Wrap-up](https://www.icaew.com/technical/technology/excel-community/excel-community-articles/2021/intro-to-financial-modelling-part-19)** > > This final post summarises what's been covered in this series on the key components of the Financial Modelling Code, as well as what’s next for the application and use of the guidance. ![image](https://community.goactuary.com/uploads/default/original/2X/b/b9065e547fa1935de16f9ffd428f60575731ac6e.jpeg)