Over the past six decades, the ILSA has changed the landscape of Swedish student assessment in many positive ways; however, it also has identified several areas of problems. In this chapter, we start with a general introduction of Swedish compulsory education system, followed by a retrospective view of the ILSA studies in Sweden, their benefits and drawbacks. This set the scene for student assessment within the framework of ILSA in Sweden today. Further, we elaborate upon the strength and weakness of Swedish grading system and national test system relating to educational quality and equity. While the national assessment systems failed to provide valid information about the trend in academic achievement, ILSA has functioned as an external support monitoring academic outcomes and educational equity over time. We present examples to illustrate the strength in the ILSA studies. Finally, we extend our perspective to the future possibilities and directions that ILSA can contribute to quality assurance in Swedish school system in general and student assessment in particular.