To ask the Secretary of State for Education, what steps his Department is taking to monitor the financial health of Interserve plc.
This answer is the replacement for a previous holding answer.
18 December 2018
The Education and Skills Funding Agency (ESFA) undertakes a financial health assessment, using the latest set of financial statements, or equivalent, on all training providers who hold a contract with the ESFA. The assessments are on a rolling programme when new financial statements are produced for these organisations. Organisations are required to submit their financial statements as and when they become available, but no later than nine months after their period end date.
Following the assessment process a financial health grade is awarded, in line with our published guidance.