Registration and Accreditation 10 October 2022
Provider: The Australian Data Institute Pty Ltd
Registration
Report on registration of The Australian Data Institute Pty Ltd
On 10 October 2022, TEQSA:
- granted, under section 21 of the Tertiary Education Quality and Standards Agency Act 2011 (TEQSA Act), the application by The Australian Data Institute Pty Ltd (ADI) for registration in the category of Institute of Higher Education, for a period of 5 years until 10 October 2027.
- accredited, under section 49 of the TEQSA Act, the following courses for delivery by ADI for a period of 5 years until 10 October 2027:
- Bachelor of Cyber Security
- Bachelor of Data Science
- imposed, under section 32 of the TEQSA Act, one condition on the registration of ADI.
Condition 1: Corporate Monitoring and Accountability
For the first 5 years after registration, ADI must report to TEQSA if any of the following events occur, based on board accepted management accounts as at 30 June and 31 December each year:
- The Current Ratio, defined as Current Assets divided by Current Liabilities (excluding related party transactions), falls below 0.
- The Net Operating Cash Flow falls below projections listed in the revised sensitised forecast of ADI's finances by a margin of 10 per cent or greater.
- EBITDA, defined as Earnings Before Interest Tax Depreciation and Amortisation, falls below projections listed in the revised sensitised forecast of ADI's finances by a margin of 10 per cent or greater.
- Closing cash balance falls below projections listed in the revised sensitised forecast by a margin of 10 per cent or greater.
- The number of commencing and continuing students (domestic and international), and the equivalent full time student load (EFTSL) falls below projections listed in the revised sensitised forecast by a margin of 10 per cent or greater. For both the number of students enrolled and the EFTSL, ADI must provide the actual figures compared to those projected in the sensitised forecast, as well as the budget period.
The reporting, if any of these events occur, must be within 60 days of 30 June or 31 December respectively, based on the board approved management accounts.
Content of reports
The report provided to TEQSA must:
- be based on ADI's board approved management accounts (which must be provided to TEQSA)
- include a business plan, revised financial and student projections
- include all actions and short timeframes planned for correcting negative elements.
For this condition, the revised sensitised forecast is the forecast contained in the Statement of Reasons report provided with the Notice of Decision.
Main reasons for the decision
TEQSA made these decisions on the basis that it was satisfied that ADI meets the Provider Registration Standards and the courses meet the Provider Course Accreditation Standards of the HES Framework. However, TEQSA considered that there remained a risk related to ADI's capacity to meet the Threshold Standards in the future. On this basis, TEQSA decided that it was appropriate to register ADI for a period of 5 years until 10 October 2027, and to accredit ADI's Bachelor of Cyber Security and Bachelor of Data Science courses for the same period.
The five-year period of registration and accreditation is consistent with the basic principles of regulation and reflects risks associated with an applicant for initial registration intending to offer a higher education course but having no history in the provision of higher education.
TEQSA also decided it was appropriate to impose one condition on ADI's registration.
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.