The finances of Welsh higher education institutions are generally in sound health and, overall, both the Welsh Government and Higher Education Funding Council for Wales (HEFCW) have implemented policy around raising tuition fees effectively. That's the conclusion of a new report by the Auditor General for Wales.

The Auditor General is today publishing a consultation on a revised Code of Audit Practice and a Statement of Practice for local government improvement audit, assessment and special inspection functions.

In response to new legal reguirements, and taking account of the strategic priorities for his approach to audit for the next three years, the Auditor General proposes to enhance and extend the underlying principles for those carrying out work on his behalf.