What is the purpose of financial monitoring?
This section answers these questions
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Financial monitoring provides annual assurance that registered private training establishments (PTEs) are financially sound.
These assurances are in line with Section 236(1)(ba) of the Education Act 1989, which requires PTEs to have "acceptable financial management practices and performance".
"Where the Qualifications Authority becomes aware of any circumstances affecting a provider's ability to offer programmes, or any concerns over an establishment's financial management practices, it will seek further assurance that the provider will be able to rectify those concerns, or continue as a going concern or will be able to wind itself up appropriately." |
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Page updated: 07 August 2007