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Financial Management Code

We are required to develop a Financial Management Code relating to the organisation and management of the financial affairs of regulated institutions. We will monitor compliance with the Code and intervene should a regulated institution fail to comply with the Code. This ensures that regulated institutions are well run, have effective financial management arrangements and are sustainable for the future. This protects the interests of students, safeguards public funds and protects the reputation of higher education in Wales.

We are required to develop a Financial Management Code (W17/16HE) covering the organisation and management of the financial affairs of regulated institutions. We monitor compliance with the Code and will intervene should a regulated institution fail to comply with it. By doing so, we aim to ensure that regulated institutions are well run, have effective financial management arrangements and are sustainable for the future. This protects the interests of students, safeguards public funds and protects the reputation of higher education in Wales.

The Code took effect from 01 August 2017 and we continue to keep it under review.

Financial Management Code

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