§ Mr. HinchliffeTo ask the Secretary of State for Education what provision has been made for the public accountability of further education colleges incorporated under the provisions of the Further and Higher Education Act 1992; and if he will make a statement.
§ Mr. BoswellThe framework for the public accountability of colleges in the further education sector is set by the financial memorandum between the Department and the Further Education Funding Council, and the financial memoranda between the council and colleges. The financial memorandum between the Department and the council makes it clear that it is part of the duty of the chief officer of the council, as accounting officer, to satisfy himself that further education colleges have appropriate arrangements for financial management and accounting.
Under the financial memoranda between the council and colleges, colleges are required to provide the council with 512W audited accounts for each financial year. Each governing body must ensure that its college has a sound system of internal control and must appoint an audit committee and internal audit service for the college. The council may undertake examination of colleges' internal financial and management controls. Colleges' books and records are open to inspection by the council and by the Comptroller and Auditor General.