Universities: Finance:Written question - HL4343

Q
Asked by Lord Chidgey
Asked on: 20 December 2017
Department for Education
Universities: Finance
Lords
To ask Her Majesty's Government what assessment they have made of the exposure of universities to illicit financial flows through university engagement with philanthropic sources of funding.
Answered on: 08 January 2018

The department has not made any assessment of illicit flows of funding to universities. However, as a result of the Higher Education and Research Act 2017, the Office for Students (OfS), as the market regulator, will act swiftly and decisively where the interest of the student and the taxpayer is at risk at any registered provider of higher education. OfS will have a range of powers that it will employ at a sector and individual provider level, as appropriate and proportionate, both to prevent fraud and to act when fraud is suspected.

Share this page