Initial Registration and Accreditation 23 October 2023

Registration

Report on registration of Iona Trinity College of Higher Education Pty Ltd

On 25 October 2023, TEQSA:

• granted, under section 21 of the Tertiary Education Quality and Standards Agency Act 2011 (TEQSA Act), the application by Iona Trinity College of Higher Education Pty Ltd for registration in the category of Institute of Higher Education, for a period of five years until 25 October 2028.
• imposed, under section 32 of the TEQSA Act, one condition on the registration of Iona Trinity College of Higher Education Pty Ltd.

Condition 1: Corporate Monitoring and Accountability

1. During the initial 5-year registration period after commencing the delivery of the accredited courses, within 60 days of 30 June each year ITC must provide (for the preceding 12-month period):
   
   1. actual versus budget reports for the income statement, balance sheet and cash flow statement.
   2. the actual EFTSL figures for the 12-month period compared to those projected in the sensitised forecast.
2. If the net operating cash flows or actual EFTSL enrolments are less than the projections (contained within the sensitised forecast) by a margin of 10 per cent or greater, a report to TEQSA is required. That report must be based on ITC's Board-approved management accounts and otherwise include a business plan, revised financial projections and all actions along with timeframes planned for correcting any shortfall in student numbers or net operating cashflows.
3. During the initial 5-year registration period, within 60 days of 30 June each year, ITC must provide evidence that ITC's governing body is assured that financial support from Iona Columba College (ICC) is adequate to support ITC's financial viability.

• accredited, under section 49 of the TEQSA Act, the following higher education courses of study offered by Iona Trinity College of Higher Education Pty Ltd, for a period of five years until 25 October 2028:
  • Advanced Diploma of Counselling
  • Advanced Diploma of Counselling (Korean)
  • Bachelor of Theology
  • Bachelor of Theology (Korean)

Main reasons for the decision

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

1. Part A, Section 6.2 Corporate Monitoring and Accountability in relation to Standard 6.2.1, paragraph c. The condition will provide TEQSA with sufficient oversight should ITC's financial viability decline and advanced notification if ITC's student projections fall below projected student numbers forecast.

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.