ABOUT
Annual Reports & Financial Disclosure
Annual Reports and Financial Disclosure
Financial Transparency
WEQSC is a not-for-profit institution. Its revenues, derived from accreditation fees, examination fees, and grants, are applied solely to the fulfilment of its mandate and to the operation of its support programmes. No surplus is distributed to any private person.
WEQSC publishes an annual financial report, audited by an independent firm of international standing, on its website. The report is published within six months of the end of the WEQSC financial year.
Contents of the Annual Report
The annual report includes:
- Total revenue;
- Total expenditure;
- Allocation of expenditure by category;
- Surplus or deficit for the year;
- Balance of reserves at the end of the year.
Allocation of Revenue
WEQSC publishes, in addition to the financial report, an annual statement of the allocation of revenue by programme:
| Allocation Category | Indicative Share | Purpose |
|---|---|---|
| Operations and Administration | ~25% | Staff, office, utilities, general administration |
| Portal and Technology | ~20% | Portal hosting, security, maintenance, updates |
| Examination and Credentialing | ~20% | Question paper design, credential infrastructure, verification system |
| Quality Assurance and Audits | ~15% | Annual audits, data quality checks, compliance verification |
| Professional Development and Training | ~10% | Teacher workshops, onboarding, curriculum development |
| Scholarships and Student Support | ~10% | Girl-child support, elite support, scholarships, merit awards |
The indicative shares may vary from year to year within the aggregate budget approved by the WEQSC Council.
Public Reporting
WEQSC publishes annually:
- The number of accredited schools by jurisdiction and qualification level;
- The number of students enrolled in the WISE programme, by level;
- The number of WISE credentials issued;
- The number and aggregate value of scholarships awarded;
- The number of girl students supported and the aggregate value of support provided;
- The number of students receiving elite support tier support;
- Anonymised statistics on compliance, audit findings, and remediation.
Public reporting is prepared in accordance with the data protection principles set out in the Data and Technology section of this portal, and does not identify any individual student, teacher, or school, save where the school has consented to being identified.
Cost Transparency
An accredited school may submit a written request to WEQSC asking how a particular fee has been applied, or how a category of expenditure has been funded. WEQSC provides a written response within thirty days of the request.
Conclusion
The publication of annual reports and financial disclosures is a fundamental element of the accountability of WEQSC to its stakeholders. All financial procedures not expressly set out in this portal must follow the Secretariat's official bylaws.