The OfS provides the following definition:
A reportable event is any event or matter that, in the reasonable judgement of the OfS, negatively affects or could negatively affect:
a. The provider’s eligibility for registration with the OfS.
b. The provider's ability to comply with its conditions of registration.
c. The provider's eligibility for degree awarding powers, or its ability to comply with the criteria for degree awarding powers, where the provider:
i. holds degree awarding powers; or
ii. has submitted an application for degree awarding powers to the OfS, and for which the OfS has yet to reach a final decision.
d. The provider's eligibility for university title, where the provider:
i. holds university title; or
ii. has submitted an application for university title to the OfS, and for which the OfS has yet to reach a final decision.
In interpreting ‘the reasonable judgement of the OfS’, the OfS will, as a matter of policy, consider whether a reasonable provider intent on complying with all of its conditions of registration and acting in the interests of students and taxpayers (rather than in its own commercial, reputational or other interests), would consider the event or matter to be material.
Examples of events or matters that would always be reportable include the following:
- The opening of a new college.
- The closure of a subject area, department or college.
- The termination of any partnership arrangement resulting in a contract change for students.
- A notification of an investigation by a professional, regulatory or statutory body.
- A complaint that the University has charged or advertised fees that exceed a statutory fee limit.
- A significant drop in liquidity.
- A likely breach of a financial covenant attached to a loan.
- A matter relating to compliance with the Prevent duty.
The following are examples of events that may reportable, depending on the full circumstances (i.e. only if the event could have a negative effect as described above):
- Complaints from students that are upheld by the University of the Office of the Independent Adjudicator and result in redress for the student or changes within the University.
- A change in actual or forecast financial position.
- A change in financial commitments or borrowings.
- A change in student number forecasts.
- The sale of University assets.
- A redundancy programme.
- Events and matters relating to fraud or financial irregularity.
- Legal or court action.
- Inaccuracies or omissions in information submitted to the OfS or a designated data body.
Refer to Table 1 on page 17 of the OfS regulatory advice for further detail and additional examples.