I'm currently doing research on economies of scale for UK universities. I've investigated all financial statements of UK universities online, because almost all of the universities published these financial statements on their websites. I was just wondering: Is there a law that states that UK universities have to do this? Which law is it? Where can I read more about this law?

Thank you!


The Financial Reporting Council has promulgated a Statement of Recommended Practice for institutions of higher education. Paragraph 3.12 requires publication of universities' financial statements.

This SORP requires that an institution’s financial statements must be published with the following related reports:

(a) a Strategic Report (which may also be called a treasurer’s report, members’ report, directors’ report or report of the governing body or trustees’ annual report);

(b) a statement of corporate governance and internal control;

(c) a statement of responsibilities of the governing body (if not included in the statement of corporate governance); and

(d) an independent auditors’ report.

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