Demonstrating that an institution’s activities provide good value for money is important for its own community of staff, students, and governors, as well as for external partners, the government, and taxpayers.
In England, the Office for Students expects institutions to demonstrate value for money to students by providing clear information about what students can expect, being transparent about how tuition fees are spent, and by meeting expectations about teaching quality and delivering successful outcomes for all students.
Reporting on value for money requires an institution-wide approach, weaving together the evidence on the effective use of public funds to enable student recruitment, delivery of high-quality learning, graduate outcomes, research effectiveness, procurement, and operational activities. Drawing upon our sector expertise, Uniac can offer advice on effective value for money reporting, providing assurance on the coverage and robustness of the report as whole, and assurance on the validity and accuracy of individual components.
Independent assurance of your value for money report contributes to your Audit Committee’s annual report and opinion on the effectiveness of institutional arrangements for economy, efficiency and effectiveness.