Assurance and institutional risk
The HEFCE assurance and institutional risk service reviews the systems of internal control, corporate governance and risk management at higher education institutions (HEIs) and HEFCE's related bodies. It also monitors and addresses financial and other risks associated with HEIs and related bodies.
To achieve this, it undertakes a number of core activities:
- data audit reviews of institutions
- HEFCE assurance reviews
- financial monitoring
- risk assessment and risk notification.
In addition to these core activities, the assurance and institutional risk service undertakes a number of 'sector development initiatives' aimed at improving audit standards and management practice within the sector.
The service is also responsible for responding to instances where information or allegations are received regarding institutions (public interest disclosures).
The service provides advice on a formal and informal basis to higher education institutions and HEFCE. Our guidance web pages provide links to information produced by HEFCE and other organisations.
Accountability: creating a new relationship
We are working to minimise the amount of bureaucracy and regulation that result from the public funding of higher education institutions, while ensuring that an adequate and appropriate level of public accountability is maintained. More information is available.
Last updated 14 October 2009