The employer quality standard for IFoA members
The QAS is a voluntary accreditation scheme for organisations that demonstrate a commitment to meeting the highest quality standards. It provides organisations with an outcomes-based framework to proactively encourage a culture of continuous improvement.
The QAS mark is a clear signal of your organisation’s commitment to the highest standards.
Benefits include:
Any organisation, or identifiable part of an organisation, that employs IFoA members carrying out actuarial work can apply.
The process from start to finish usually takes about four months. This depends on the availability of the assessment team and timing of the quarterly QAS Committee meeting.
The application form and assessment report are reviewed by the QAS Committee, who determine the outcome of the application. The committee acts on behalf of the Regulatory Board and is made up of lay people and a balanced representation of volunteer members from different industries and countries where the QAS operates.
There is an annual fee, which is dependent on the number of members in your organisation. See: Quality Assurance Scheme fees and criteria
Every year, organisations need to complete and submit an annual return and pay an annual fee. There’s an interim assessment in year three or four*. And there is a re-accreditation with full re-assessment at the end of year six.
To learn more, see our QAS handbook (PDF, 1 MB).