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Quality Assurance Scheme (QAS)

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

 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.

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 

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@actuaries.org.uk

QAS Team, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

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E.g., 16/10/2021
End date
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Events calendar

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    In this webinar, we will discuss how cause-of-death data from the Office for National Statistics can help us to understand how inequalities arise at the all-cause level. The key to understanding mortality inequality is to think about the chain that connects risk factors, relative risks, and cause-of-death mortality through to all-cause mortality.

  • Spaces available

    The importance of biodiversity for finance, business and policy is being increasingly recognised. While many studies highlight the overall economic impact that biodiversity loss could have, it is much more difficult to quantify and understand the particular impact that is may have on individual businesses or communities. The management and measurement of these risks is a field where actuaries are well placed to contribute.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • GIRO 2021 Webinar Series

    Online
    8 November 2021 - 19 November 2021
    Spaces available

    Join leading experts to discuss key issues, emerging ideas and new research across the general insurance sector.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.