How to become a Member

Higher Education Institutions (HEIs) can apply to become a Member institution of the KCG Consortium.

Applications for admission are considered by the KCG Consortium Board of Management after a period of discussion with interested institutions. Before admission, the KCG Consortium will deliver a detailed Audit Needs Assessment at no cost to determine the number of audit days to be delivered and included within the Consortium's shared cost model. The shared cost model drives the composite daily rate at the break even point, which is applied for all Member institutions and is determined in July each year effective from 1 August.

The KCG Consortium does not offer an outsourcing solution for the provision of internal audit services.  As a consequence, the Consortium does not normally engage in tender exercises.  The KCG Consortium offers instituitons an opportunity to "bring in-house" their internal audit arrangements on a shared services and shared cost basis. The process from enquiry to admission can take several months to negotiate.

Membership is regulated through a Consortium Agreement and Deed of Adherence, signed by each of the Member institutions on the admission of any additional institutions. The Consortium Agreement provides the framework for the Consortium's governance arrangements, including the Members' shared ownership of the Consortium's assets and liabilities, costs and benefits.

Each Member institution is required to provide representation on the KCG Consortium Board of Management at senior levels. The Board is responsible for:

• The KCG Consortium's strategic direction and planning.
• Overall governance and management of the Consortium's arrangements.
• Approval of the KCG Consortium Business Plan.
• Approval of the KCG Consortium Investment Plan.
  
• Agreeing and monitoring the KCG Consortium annual budget and composite daily rate.
• Approval of the KCG Consortium's quarterly management accounts.
• Approval of the KCG Consortium's annual financial statements.
• Ensuring that service provision meets Members' needs and providing advice on potential enhancements.
• Oversight of the KCG Consortium's management processes and procedures.
• Commissioning an independent external five-yearly review of quality.
• Acting as joint employers of KCG Consortium staff, with consequent VAT advantages.
• Ensuring quality of administrative support from the host Member.
• Appointment and performance assessment of the KCG Consortium's Managing Director and executive Directors.

The Board of Management has no involvement in the agreement and delivery of services at the individual Member institutions.

The KCG Consortium offers its Members only the very highest calibre of staff. On admission, Member institutions are required to subscribe to the concept of high quality professional internal audit and management assurance services, delivered at an appropriate cost that is sufficient to deliver "value added", and to make a positive contribution to the achievement of the Member institutions' strategic aims and objectives. All costs are shared equitably amongst the KCG Consortium Member institutions in proportion to the number of audit days received per annum and in accordance with the Consortium Agreement. The KCG Consortium is not profit-making from the Membership. Additional income streams from non-Member institutions are costed and priced on a commercial basis and intended to generate surpluses which are utilised and invested to develop the Consortium and equip it for the longer term. Savings are achieved for the Consortium Membership on VAT related to the staff pay costs of services delivered.