In collaboration with Universities UK (UUK) and Lloyds Banking Group, PwC convened a series of roundtable discussions in April 2026 with senior leaders from Higher Education Institutions across the UK. The discussions explored practical steps institutions can take to strengthen financial governance, improve financial decision-making and build greater resilience.
Building on our 2025 work supporting UUK's Transformation and Efficiency Programme, this year's report focuses on two closely connected areas: financial governance, including board accountability, financial literacy and effective oversight during periods of financial stress; and financial acumen, including accountability, financial reporting and understanding the cost and contribution of different activities.
The discussions highlighted that financial sustainability is about more than identifying further savings. Institutions need clear accountability, trusted and decision-useful information, a stronger understanding of cost and contribution, and governance arrangements capable of supporting timely strategic decisions. The report brings together practical approaches already being used across the sector and identifies actions institutions can take to strengthen these capabilities.
47%
of participants felt that their institution used financial reporting to actively influence priorities and trade-offs.
25%
of participants stated that the financial information available to decision-makers was clear, timely and supported informed challenge.
96%
of participants stated that budget holders are formally accountable for financial performance within academic and professional services departments.
10%
of participants stated that financial performance is fully owned, with one version of the truth routinely used to drive decisions and outcomes.
Transformation and Efficiency in the Higher Education Sector
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Partner, Education Lead and Government and Health Industries Restructuring Leader, PwC United Kingdom
Tel: +44 (0)7787 120228
