Glossary of Terms beginning with Q

Click one of the letters above to go to the page of all terms beginning with that letter.

Quality Assurance Environment


Quality Review Committee

Qualifying asset

Qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale.

Qualifying insurance policy

An insurance policy issued by an insurer that is not a related party (as defined in IPSAS 20) of the reporting entity, if the proceeds of the policy: (a) Can be used only to pay or fund employee benefits under a defined benefit plan; and (b) Are not available to the reporting entity's own creditors (even in bankruptcy) and cannot be paid to the reporting entity, unless either: (i) The proceeds represent surplus assets that are not needed for the policy to meet all the related employee benefit obligations; or
(ii) The proceeds are returned to the reporting entity to reimburse it for employee benefits already paid.

Quality Assurance

Maintenance of a desired level of quality in a service or a product.


A detailed offer of prices, delivery dates and payment terms issued by the seller, which is not a legally binding document.