The QAS recognises the importance of the working environment in enabling actuaries to fulfil their professional responsibilities. 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. Further information and details about the QAS can be found in the QAS Handbook.
Please contact a member of the IFoA’s QAS Team for an informal discussion or if you have any questions about the QAS. Organisations can apply for accreditation by completing and submitting the Application Form to QAS@actuaries.org.uk or by post to the address below.
The QAS is now open for applications from outside the UK.
What people say about the QAS
Professional Excellence is our core value; it touches every process we use, every solution we deliver, and every experience we create for our clients and colleagues. This gives our clients confidence that our work will be technically correct, relevant to their needs and delivered with clarity. We are proud that the IFoA’s independent assessment concluded that our values are aligned with their vision of assuring high quality actuarial work.
Global Leader, Professional Excellence, Insurance Consulting & Technology, Willis Towers Watson
As actuaries, we all want to ensure our work is designed to answer the questions of our clients, is clear and pragmatic and pitched at the right level. We also want it to be technically correct, having been checked and peer reviewed but importantly we want our clients to have confidence in us. And so this is why we want the QAS stamp.
The Financial Reporting Council (FRC) has given the following endorsement
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.
QAS Core Documents
Actuarial Profession Standard QA1 and QAS Handbook
Applying for the QAS
- Application Form
- Terms and Conditions - Application for QAS Accreditation
- Participation Agreement
- Appeals Process
For accredited organisations
Quality Assurance Scheme
QAS Team, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA
Filter or search events
This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.
Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.
Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.
Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year
The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.
Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.
We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.