All initial teacher training (ITT) providers are required to demonstrate ongoing compliance with the Secretary of State's requirements for ITT. Some of these criteria refer to the governance of ITT providers. Adherence to good governance principles helps providers comply with the accreditation criteria and with the Teaching Agency's assurance standards.
Governance is a series of management controls designed to effectively organise and monitor the strategic direction of an area or business. In the context of the Teaching Agency's relationship with ITT providers, the Teaching Agency is responsible for effectively assuring the administration of the public funds it allocates to providers. For this reason, there is guidance on how these funds should be managed.
Formal guidance relating to governance is being developed and will be published after consultation. In the meantime, all ITT providers are required to comply with the financial memorandum and funding manuals received from the Teaching Agency, and with all relevant legislation. In addition, higher education institution (HEI) organisations are already subject to the Higher Education Funding Council for England (HEFCE) Governance Code of Practice and General Principles.