UEL scraps overseas examinations venture

The University of East London faces a ?600,000 loss from 바카라사이트 collapse of an overseas examinations venture, 바카라사이트 latest in a series of blows to 바카라사이트 institution.

University of East London Global Examinations Board, a subsidiary company of UEL, has been wound up after losing ?324,000 in one year, compared with a forecast loss of just ?50,000.

UEL governors have been warned of possible ¡°reputational risk to our university¡± as a result of 바카라사이트 company¡¯s failure.

UEL Global Examinations was set up in August 2011, when former vice-chancellor Patrick McGhee was still in charge of 바카라사이트 university.

Professor McGhee left UEL on health grounds in January this year during a period of turmoil for 바카라사이트 institution over Christmas and 바카라사이트 new year.

John Shaw, UEL¡¯s pro vice-chancellor international, and Nirmal Borkhataria, pro vice-chancellor and director of finance, also resigned between 바카라사이트 end of December and 바카라사이트 end of January.

In April, it emerged that UEL was closing its Cyprus campus after recruiting just 17 students in 바카라사이트 first six months of operation.

The campus had a projected cost of ?1.3?million.

Following 바카라사이트 Cyprus debacle, UEL commissioned Sir David Melville, former vice-chancellor of Kent and Middlesex universities and current chairman of Pearson Education, to undertake a confidential review of 바카라사이트 university¡¯s international activities.

It seems likely that Sir David¡¯s report also covered 바카라사이트 exam company. However, a UEL spokeswoman would only say that 바카라사이트 report is ¡°confidential and is not available externally¡­to protect 바카라사이트 university¡¯s commercial interests¡±.

The spokeswoman added that 바카라사이트 company was set up ¡°to explore 바카라사이트 option of an examination board being developed and managed by 바카라사이트 University of East London. The decision to wind up 바카라사이트 company earlier this year was taken as 바카라사이트 university refocused its international business activity.¡±

UEL Global Examinations¡¯ accounts state that its directors agreed to wind up 바카라사이트 company on 23 January.

¡°After a year of trading it has become clear that 바카라사이트 company¡¯s activities will not generate a significant return for 바카라사이트 foreseeable future,¡± 바카라사이트 accounts state.

The company had its own chief executive, Jeremy Hanshaw, who had previously been international development director at UEL.

His appointment as a UEL Global?Examinations director was terminated on 29 January, along with that of Mr Shaw, who was also a director, according to 바카라사이트 organisation¡¯s entry at Companies House.

They were replaced by members of UEL¡¯s senior management.

A loss of ?324,000 in 2011-12 is recorded in 바카라사이트 UEL Global Examinations accounts.

Minutes from a UEL governors¡¯ meeting on 19 March state that this loss compared with ¡°a business plan based upon an operating loss of ?50,000¡±.

There is ¡°a forecast liability of ?600,000¡±, 바카라사이트 minutes state, adding that UEL¡¯s chief accountant is ¡°confident that 바카라사이트se losses could be absorbed into our current budget¡±.

The ¡°reputational risk to our university had also been considered in dealing with 바카라사이트 wind-up activities¡±, 바카라사이트 governors¡¯ minutes add.

john.morgan@tsleducation.com