To ask the Secretary of State for Education, what the cost to the public purse is of his Department's contracts with (a) accountancy and (b) auditing for the purposes of supporting universities to access finances during the covid-19 outbreak.
19 November 2020
Higher education providers are autonomous organisations and are responsible for their own arrangements for in-house and contracted expertise to support their financial management. The Department for Education does not contract with accountancy and audit firms on behalf of providers.
On 16 July my right hon. Friend, the Secretary of State for Education, announced arrangements for the Higher Education Restructuring Regime which may be deployed as a last resort, if a decision has been made, to support a higher education provider in England at risk of financial failure, when other steps to mitigate the risks or preserve its viability have not proved sufficient.
The department will draw in accountancy and auditing expertise from external firms, on a call-off basis, to support demand-led individual casework as necessary.