What are my financial management responsibilities?
This section answers these questions:
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As a private training establishment you must show that you are financially capable of delivering training to students. The Quality Assurance Division (QAD) of NZQA ensures that education organisations comply with this requirement.
We do this in two main ways:
- First, through the attestation forms. The Private Training Establishment/Recognised Course Owner Attestation (Form A) asks you to confirm your commitment to training. The Professional Chartered Accountant Attestation (Form B) asks for an opinion on the ongoing financial viability of the training establishment. We also require copies of your latest financial statements on the performance of your organisation.
- Second, through oversight and approval of your student fee protection arrangements. This ensures that the interests of students are protected if an education organisation fails completely or loses part or all of its accreditation.
We have staff who are qualified to offer advice and guidance on meeting these requirements. They can also help in such matters as student transfers and organising refunds.