December 5, 2023

In partnership with consulting and transparency firm Verisio, the BSA will expand the compliance services it already provides to member and affiliated schools.

An agreement with a consultancy firm that specializes in inspecting supply chain and business processes to uncover any potential breaches will help UK boarding schools ensure that admissions comply with national and international legislative frameworks.

The BSA/Verisio Due Diligence Service will allow schools to “know who they’re dealing with, whether it’s an agent, a parent, a donor or a business partner,” Kate Hollyer, director of legal and public affairs at BSA Group, said PIE News.

“Based on the information provided by the BSA/Verisio report, the educational institution can decide whether or not to continue the relationship.

“This in turn demonstrates to the National Crime Agency and UKVI that the educational institution has a strong due diligence strategy when it comes to student recruitment,” she further explained.

Schools must carefully scrutinize funding sources from international clients to ensure that the money has been raised legitimately.

“Schools may inadvertently breach sanctioning regulations”

In a statement issued to announce the launch of the collaboration, the BSA noted that the recruitment of international students is beneficial to the UK school sector as a whole.

However, it brings risks that should be “appropriately considered and mitigated by the admissions process.”

“It is possible for schools to inadvertently breach sanctions regulations and expose themselves to significant reputational risks where the source of international funding is not adequately controlled,” the organization said.

“Student-sponsored schools also have a duty to ensure that they are recruiting genuine international students, thereby mitigating the risk of exploitation and human trafficking,” he added.

The service will also review global sanctions and political exposure regarding the source of funds, as well as conduct precise checks on high-risk jurisdictions and provide final commentary on the source of wealth.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *