Specialists in the Education Sector
At TIAA we are fully aware of both the emerging and long standing risks associated with the education sector. We have put together a team of qualified education specialists many of whom have worked directly in the sector as teachers or lecturers or indirectly as regulators or auditors who are therefore able to focus on the specific needs of your organisation and crucially, understand the background pressures and key issues that you face behind the scenes.
Because of this inside knowledge, we know the importance of maintaining a robust control framework but also how difficult that sometimes can be. In addition, our team, Managers and Directors have good connections with individuals within the regulatory bodies such as ESFA, OfS, HEFCW, QW, GCTS and GTCNI which aids in our intelligence and horizon scanning activities – all of which you can have access to throughout our journey together as your business assurance specialists.
We provide a range of services tailored for the private and commercial sector
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Our Further Education clients are offered a range of services including reviews of risk management, learner recruitment and retention, enrolment, marketing, curriculum planning, financial controls, governance, compliance with legislation and estates and asset management. While you will have a tailored audit plan specific to your establishment, we have already identified the key risks to the sector in practice and will work with you to gain insight on how well controlled those areas are.
We realise that the Higher Education sector is under pressure with increased competition leading to more importance being put on conversion rates, marketing and student recruitment. At the same time, staff are often under resourced, students overwhelmed and staff/student wellbeing has never been more important. Strengthened regulation requires an increased need for compliance in order to achieve necessary funding and to adhere to current legislation such as for student accommodation. Crucially, given the importance now placed on international recruitment as a viable alternative market to local recruitment, compliance with UK Visa & Immigration legislation in order to maintain sufficient licences is even more important in order to allow and maintain access to overseas students.
At TIAA, we are aware of these challenges and are experienced in providing confident and specialist solutions and advice to mitigate risk and improve processes.
Multi-Academy Trusts (MATs)
With the new publication for the Academies Financial Handbook 2020 (AFH), Multi-Academy Trusts (MATs) need to ensure that their internal audit service is separate from their external audit provision and the service covers both financial and non-financial risks assurance. Our focus is on business assurance and providing cost effective pragmatic advice, guidance and assurance to ensure that compliance with the AFH and the ESFA Governance Handbook is maintained. In addition, we recognise the financial challenges associated with ongoing funding and the need to have regular audits to ensure that all required funding criteria is met and that your organisation has a healthy control environment to allow access to future subsidies.
We provide local assistance, irrespective of your location and/or size, which is supported by a national technical infrastructure, thereby ensuring your MAT receives a bespoke service.
Get the full TIAA experience and find out how we can help your business
Meet the team