Excel

You are actually pretty close to the answer. All you need to do is add another OR function nested at the part that says 'Chas Approved'.

So the new function would say: =IF(A4="Do Not Use","Do Not Use",IF(AND(OR(B4="Chas Approved",B4="HQ Approved"),Q4>$O$1,W4="Valid",OR(AA4="Valid",AA4="N/A")=TRUE),"Current","OutofDate"))

You could also make it a slightly more efficient function by changing the IF into an IFS. That one would read: =IFS(A4="Do Not Use","Do Not Use",AND(OR(B4="Chas Approved",B4="HQ Approved"),Q4>$O$1,W4="Valid",OR(AA4="Valid",AA4="N/A")=TRUE),"Current",TRUE,"OutofDate")