Quality Assurance Scheme fees and criteria

^{* Where an Organisation is part of a wider group, the turnover of that group will be taken into account in assessing the appropriate Band. This is subject to the discretion around Bands explained below.}

^{** Members include IFoA Members (of any category) as well as members of other International Actuarial Association (IAA) Full Member Associations.}

^{*** In terms of the ‘number of offices’ requirements, the IFoA will retain discretion to avoid any unfair categorisation, for example as a result of working arrangements such as home working or organisations having a very large single office site or multiple very small sites.}

The IFoA retains discretion to determine that an applicant should be within a particular band even though the criteria indicate a different band. This reflects that the bands also correspond to the number of days of assessment required and will apply in circumstances where it is decided that an applicant needs more or less assessment due to the nature and size of the organisation, accredited part and/or the actuarial team.

If you are unclear as to the band that your organisation would be then please raise this with your QAS contact or submit a query to QAS@actuaries.org.uk