Wisdom Business College is an independent legal entity registered by the Registrar Generals Department. It is governed at the most senior level by a Board of Governors. The Board is responsible for determining the overall strategy of the College and its educational character, the proper use of the public funds, the quality of provision, and appointing the Principal and other senior staff.

The Wisdom Business College Board of Governors comprises 16 members, one of whom is a member of staff (elected by the staff) and two who are student members (elected by Student Representatives). The Principal and Chief Executive is also governor.

The external governors (those other than the Principal and staff and student governors) are drawn from a wide variety of community, business and professional interests. They are people who are very successful in areas other than further education, and this enables them to bring a 'critical friend' and broader perspective to the leadership and direction of the College. However, they work in a non-executive capacity, i.e. a clear distinction is made between the Principal's executive role of leading and managing the college operationally, and the governance, or strategic oversight role of the Board of Governors.

The Board of Governors is constituted under a statutory instrument known as the Instrument of Government and operates within the powers provided under the Articles of Government. Various acts of Parliament plays a key role in determining the role and powers of the Board, as does the Financial Memorandum - (the Government's agencies for planning and funding further education), Audit Code of Practice and general law relating to employment, health and safety, safeguarding, equality & diversity.

The Corporation meets at least five times a year and has established a number of committees to undertake more detailed work.

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