Code of Practice


AIRFA, the Association of Independent Risk & Fraud Advisors exists to foster the development and growth of the profession of independent risk and fraud specialists, to provide a network of professional members, to facilitate awareness of and access to such professionals for commercial organisations, regulators, government, the media and other interested parties to ensure high professional standards amongst its members and their clients, and to promote a true understanding and consideration of risk management concerns, issues and requirements.

Risk and fraud management specialist members of AIRFA provide various consulting and advisory services, advisory services, guidance, training and support to a wide variety of profit and not-for profit organisations. This Code of Practice reflects the purposes of AIRFA and describes the standards and professional conduct that AIRFA members have agreed to observe.

  1. AIRFA members agree to abide by this Code of Practice and its complaints procedure. AIRFA members are committed to the ideals and principles of AIRFA, its fellow members and the broader risk profession. Members will reaffirm their compliance with the Code of Practice each year.

  2. AIRFA members will make claims to experience, qualifications and achievements only where these can be demonstrated to be genuine.

  3. Neither AIRFA nor its individual members will guarantee results nor promise outcomes that are unrealistic.

  4. AIRFA does not guarantee or endorse individual members nor the actions or output of its individual members.

  5. AIRFA members will acquire clients by fair means-only, will not offer inducements to prospective clients or apply undue pressure in order to secure assignments.

  6. Members maintain a knowledge of all relevant business, legal and regulatory practices, and in particular are aware of legislation in their own jurisdiction and in places where they work relating to legislation that covers Bribery, Data Protection Act, Money Laundering, Prevention of Terrorism, Banking, Insurance, Drug Trafficking. These form examples of relevant legislation and does not constitute a complete list.

  7. AIRFA members will serve only those organisations, commercial entities, regulators or government departments that to the best of their knowledge have aims and practices that are worthy and intentions that are honourable. Where this is not found to be the case, members of AIRFA may withdraw from any engagement at any time. Where illegal activities are discovered, members will take appropriate action to protect themselves and the businesses with which they are engaged.

  8. AIRFA members will promote and employ only those business practices and consultancy engagements that are not harmful to interested parties, or likely to bring the risk profession, AIRFA or its individual members into disrepute.

  9. AIRFA members including any sub-contracted consultants engaged by individual members will maintain a record of relevant and up-to-date professional experience, and will be managed by experienced practitioners, where applicable.

  10. AIRFA members will deliver professional services to their clients based on an agreed letter of appointment, Statement of Work or other applicable document, that details all the terms of engagement including the service to be provided; access provided by the client; the duration of the service; the professional fee and related expenses to be charged; the method of payment, as well as arrangements for review and termination of the consulting effort.

  11. Members will pay an annual fee for the use of the AIRFA service and network. Such a fee will be collected annually and in advance. AIRFA is a non-profit-making company (as defined by the Companies Act), and fees are used to cover costs and administration for the organisation.

  12. Professional fees payable for services rendered by individual AIRFA members are a matter for that AIRFA member and their client only. AIRFA seeks no reimbursement from the AIRFA member or its client for introducing, facilitating an introduction between the two parties and leading to, or not as the case may be, a consulting agreement or other commercial arrangement.

  13. AIRFA members will honour all non-disclosure agreements and the confidentiality of information to which they are privy when serving clients, engaging with AIRFA and fellow AIRFA members.

  14. AIRFA members will take care to avoid any conflict of interest in the provision of consulting services to their clients.  All financial relationships between Members and their clients and other involved parties shall at all times be transparent to those involved. AIRFA members may from time to time disclose potential conflicts of interest to clients in order to protect and keep all parties fully aware of all matters.

  15. AIRFA members who provide guidance and advice to their clients about the purchase of goods and/or services and recommend a particular supplier(s), will not accept payment from those suppliers for being so recommended.

  16. AIRFA members who have a complaint raised against them, have been considered as acting inappropriately, illegally or contrary to the spirit and/or rules of AIRFA will be deemed as having acted with misconduct and may have their AIRFA membership terminated.


To learn more about our complaints procedure or to initiate a complaint under the Code of Practice, please contact
enquiries@airfa.net in the first instance.