Renewal of Registration and Accreditation 17 July 2024

Renewal of registration

Report on renewal of registration of Russo Business School Pty Ltd (RBS)

On 17 July 2024, TEQSA:

• Renewed, under section 36 of the Tertiary Education Quality and Standards Agency Act 2011 (TEQSA Act), the registration of Russo Business School Pty Ltd (RBS) as an Institute of Higher Education, for a period of seven years until 17 July 2031.
• Renewed, under section 56 of the Tertiary Education Quality and Standards Agency Act 2011 (TEQSA Act), the accreditation of the Diploma of Business offered by RBS for a period of seven years until 17 July 2031.
• Imposed, under section 32 of the TEQSA Act, one condition on the registration of Russo Business School Pty Ltd (RBS).

Condition 1: Corporate and Academic Governance

1. By 30 November 2024, Russo must engage a suitably qualified reviewer to undertake a comprehensive review of the effectiveness of its corporate and academic governance processes and compliance with the Threshold Standards. The reviewer and the scope of the review must be approved by TEQSA, and the review must address the concerns relating to strategic planning, risk management, reporting, scholarship, and delegations that are identified by TEQSA in its assessment report.
2. By 30 June 2025, Russo must provide TEQSA with:
   
   1. a copy of the completed review report.
   2. evidence Russo's governing body has considered the review; including any action plans to address or implement recommendations from the review.
   3. evidence of progress towards implementing any agreed actions arising from the review.
3. By 30 June 2026, Russo must provide TEQSA with:
   
   1. evidence that Russo's governing body has reviewed the effectiveness of the actions implemented arising from the comprehensive review.
   2. evidence that Russo's governing body has used their review of the effectiveness of their actions to embed continuous improvements into their routine corporate and academics governance processes.

Main reasons for the decision

TEQSA made these decisions in light of risks that Russo Business School Pty Ltd (RBS) may not meet, or continue to meet, the following provisions of the Higher Education Standards Framework (Threshold Standards) 2021:

1. Section 6.1 in relation to corporate governance
2. Section 6.2 in relation to corporate monitoring and accountability
3. Section 6.3 in relation to academic governance

Application to withdraw conditions

In accordance with section 32 of the TEQSA Act, TEQSA may vary or revoke a condition imposed on the registration of a higher education provider, either on its own initiative, or upon application by the provider for variation or revocation.