The International Association of Book-keepers (IAB) also offer Qualifications and Credit Framework (QCF) qualification specifically in bookkeeping and Payroll. IAB members are professionally qualified book-keepers. Members use designatory letters AIAB standing for "Associate Member of the IAB", MIAB "Member of the IAB and FIAB "Fellow Member of the IAB". FIAB can also use the designation "Registered Book-keeper". After passing exams and obtaining relevant experience, its members can apply for a Certificates of Supervision, Certificate of Compliance and eventually Certificates in Practice status, depending on membership level and experience, and are then licensed and regulated by the IAB to provide practice book-keeping, accounting, tax and financial advisory services, although they are not entitled to undertake audit or insolvency work. As in the case of members of the RQBs, IAB practising members are required to hold adequate insurances and undertake regular CPD activities relevant to the services they offer. Although not sponsored by any other professional body, IAB qualifications are recognised by many of the bodies and members may, depending on the qualifications they hold apply for some exemptions to the other professional bodies.