Liz May

Principal – Financial Advisory
Restructuring Advisory

Having developed a foundation through formal insolvency work, Liz now specialises in the Education Sector where she assists both public sector and private education providers to better understand their financial position and governance arrangements. Liz is passionate about ensuring that our education providers are financially equipped to deliver quality education outcomes. Bringing commercial insights to articulate the meaning behind the numbers, Liz provides practical advice to improve the financial management and governance practices of organisations. Liz has a strong understanding of the legislative framework, Minimum Standards and relevant Guidelines that address governance and financial capability in relation to Schools and Registered Training Organisations.

Experience

• Victorian Registration and Qualifications Authority (VRQA)

Liz has managed the delivery of a Government contract with the VRQA since November 2009. This contract is for the delivery of financial capability assessment services of providers that the VRQA registers, including Victorian schools and Registered Training Organisations (RTOs). These reviews are aimed at assessing whether education providers meet the minimum requirements for registration, which includes a requirement to be financially viable and have adequate resources to deliver quality educational outcomes.

• Australian Skills Quality Authority (ASQA)

Leading this engagement, Liz redesigned ASQA’s systems and processes enabling the Regulator to better understand the financial position and viability of the Vocational Education and Training providers it regulates. The project delivered a financial assessment tool, and included a robust national training program for ASQA Auditors in relation to the importance of financial management and sustainability for VET providers.

• Victorian Department of Education & Training (DET)

Liz has conducted a number of Financial Viability Assessments of education providers on behalf of the DET, including the review of a number of Victorian TAFEs. These reviews have included an assessment of financial viability and solvency of the organisation, as well as providing recommendations regarding organisational restructure and cost reduction in order to strengthen the financial viability and ongoing sustainability of the provider.