THE QUALITY ASSURANCE AGENCY FOR HIGHER EDUCATION
Financial health, per its FY2023 accounts
The accounts state that total income increased by 3.3% to £10,110,143, while charitable expenditure decreased by 19.1% to £9,470,208, resulting in a net movement in funds of £557,752. Free reserves stood at £2,501,542, which is above the stated policy target range of £1.3-£2.0 million. The trustees and auditors confirm that the group is able to meet its liabilities as they fall due with no material uncertainties regarding its financial viability.
What the accounts disclose
“The highest paid employee is the Chief Executive whose remuneration and benefits, including Employer Pension contributions and Employer National Insurance contributions, in the year were £194,275” — page 49
“The resultant target range of free reserves, following the annual review, is set at £1.3-£2.0 million.”
“QAA's wholly owned trading subsidiary, QAA Enterprises Limited, has made a loss of £440” — page 17
Funders the charity credits
- Scottish Funding Council
- Department for the Economy in Northern Ireland
- Higher Education Funding Council for Wales
Structured financials (annual return, FY ending 31/07/2025)
Trustees
- Caroline Jane Carter
- Christian Brodie
- Dr Fazal Dad
- Dr Lucy Ann Jones
- JULIAN ALEXANDER FRASER
- Jimena Alamo
- Ladan Saghafi
- Peter Vermeulen
- Professor Mirjam Platinga
- Professor Moira Catherine Fischbacher-Smith
- Professor Nic Beech
- Professor Nichola Callow
- Professor Odette Hutchinson
- Professor Philip Andrew Deans
- Professor Rachid Hourizi
- Richard Hazim Khaldi
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/07/2025 | £10.1m | £10.6m |
| 31/07/2024 | £8.8m | £5.8m |
| 31/07/2023 | £10.1m | £9.5m |
| 31/07/2022 | £9.8m | £11.7m |
| 31/07/2021 | £8.3m | £8.3m |
Common questions
Is THE QUALITY ASSURANCE AGENCY FOR HIGHER EDUCATION financially healthy?
The accounts state that total income increased by 3.3% to £10,110,143, while charitable expenditure decreased by 19.1% to £9,470,208, resulting in a net movement in funds of £557,752. Free reserves stood at £2,501,542, which is above the stated policy target range of £1.3-£2.0 million. The trustees and auditors confirm that the group is able to meet its liabilities as they fall due with no material uncertainties regarding its financial viability. Its FY2023 accounts were audited by Crowe UK LLP.
What does the highest-paid employee of THE QUALITY ASSURANCE AGENCY FOR HIGHER EDUCATION earn?
Per its FY2023 accounts, the highest-paid employee was in the £140,001 - £150,000 band.