The Institute and Faculty of Actuaries' Quality Assurance Scheme (QAS)
The QAS is a voluntary global accreditation scheme for organisations that employ actuaries.
The objectives of the QAS are to promote quality assurance at an organisational level; to promote confidence in the work of actuaries; and to provide an important mechanism to identify issues affecting the quality of actuarial work.
We have set out below additional information about the QAS and details of how to become accredited. There is also a section for SQARs (Senior Quality Assurance Representatives) at organisations who are QAS members.
If you are considering making an application for accreditation and would like to discuss any aspect of the Scheme prior to applying, please use the details at the bottom of this page to get in touch.
Respected by the sector
We found the process of gaining accreditation to be very smooth. All relevant information was available in the QAS Handbook and a conference call with the QAS team provided an opportunity to clarify the process and gain further insight.
Though most of our policies and procedures were in place, putting them together for review by the QAS assessment team was a useful process in itself as it provided an opportunity to review them internally in a holistic manner and fill in any gaps identified.
The assessment process was also insightful as the approach was not about fault-finding, instead it was about finding ways to facilitate further improvements. We felt supported throughout the process. The responses from the IFoA and the external assessors were fast, clear and effective.
As well as the benefits mentioned above, we also found that there are benefits relating to the satisfaction that came from gaining a global accreditation.
Management is excited, employees feel empowered, and clients have comfort that they are conducting business with a professional organisation.
Mamata Pandey, Consulting Actuary, Lux Actuaries and Consultants
We found the process of gaining accreditation to be very smooth. All relevant information was available in the QAS Handbook and a conference call with the QAS team provided an opportunity to clarify the process and gain further insight.Welcomed by the Financial Reporting Council
The IFoA's QAS acreditation is welcomed by the Financial Reporting Council.
The FRC welcomes the IFoA’s decision to introduce its Quality Assurance Scheme for businesses that employ actuaries. We firmly believe that excellence in the working environment is essential to maintain and improve actuarial quality in the public interest, leading to better outcomes for customers and businesses alike. The FRC considers that the independent assessment of businesses that participate in the scheme will support the Scheme’s effectiveness at achieving these outcomes. We would encourage businesses to join the Scheme.
The Financial Reporting Council (FRC)
Find out more about the QAS
Contact Details
Quality Assurance Scheme
QAS Team, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA
Filter or search events
Events calendar
-
Pensions Winter Forum: Corporate Transactions
25 January 2022
Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors. -
Frank Redington is recognised as one of the most influential actuaries of all time. In this talk, Craig will review some of Redington's most important ideas. He will identify the consistent actuarial principles that form a common thread across the contributions Redington made to a broad range of actuarial fields, and will highlight the ongoing relevance of Redington's thinking to 21st century actuarial practice.
-
The IFoA Mental Health working party look back over their week of blogs and podcasts considering all aspects of the relationship between mental health and life insurance. The expert panel spans adviser, underwriter and actuarial experience and they explore triggers for purchasing insurance relating to mental health, the various routes to insurance and how these may be more suited to different people depending on their conditions and preferences, the products and processes involved in purchasing these as well as what claims and support are available to policyholders and how to access them.
-
Part of the 'Finance in the Public Interest 2022' webinar series. If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?
-
ARC Webinar - The next generation of CDC pensions? Analysing a post-retirement retirement vehicle
18 February 2022What will happen to DC pension savers who see life annuities as poor VFM but still want an income for life? Pooled annuity funds could offer them a decent lifetime income while reducing significantly the complex choices and risk inherent in income drawdown. They could be the next generation of CDC pension schemes, slotting into the existing DC framework as a post-retirement option.
-
ARC Webinar Series 2022 - Lifting the lid on intergenerational investment risk-sharing
24 February 2022Investment risk-sharing is a fundamental part of whole-life collective defined contribution (CDC) pension schemes, such as the Royal Mail CDC. But how does investment risk-sharing benefit members? And does it favour some groups of members over others?
Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors.