2Financial viability and sustainability

Section 2 Financial viability and sustainability

The higher education provider has the financial resources and financial management capacity to sustain higher education operations consistent with the Provider Registration Standards.

2.1 The higher education provider is financially viable and has the capacity to sustain quality in its current and planned higher education operations, using realistic projections of student demand and income from all sources.

2.2 The higher education provider applies, and demonstrates the capacity to continue to apply, sufficient financial resources to ensure the achievement of its higher education objectives.

2.3 The higher education provider has business continuity plans and financial and tuition safeguards in place for students should the higher education provider cease to provide a course of study, cease to operate as a higher education provider or suffer a major incident affecting the operations of the higher education provider.

2.4 Financial aspects of the higher education provider’s higher education operations are well-managed in accordance with legal requirements and Australian accounting standards and the higher education provider has effective arrangements for the detection and prevention of fraud and mismanagement.

2.5 The financial records of the higher education provider are accurate and independently audited by an appropriately qualified auditor.