This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The Chartered Quality Institute Annual Report 2024

Trustees’ report for the year ended 31 December 2024

The CQI is the professional body for experts in improving product, project and service quality.

Our mission

As a registered charity with a Royal Charter, our purpose is to champion quality management in all sectors for the benefit of society[*] through the work of our members, the training and education we provide, our research and the outreach we conduct.

*The Trustees confirm they have referred to the Charity Commission’s guidance on public benefit when reviewing the Institute’s aims and objectives, planning future activities and setting the annual operating plan.

Our vision

Our vision is a world in which organisations of all types and sizes thrive by providing outstanding value for customers, stakeholders and society.

Our values

Inclusion – we respect and value everyone, support each other to do our best, and collaborate to make a difference to society.
Integrity – we act ethically, make decisions in the best interests of our stakeholders and take ownership for our actions.
Innovation – we invite new ways of thinking that challenge the status quo, help us to remain relevant and ensure we continuously improve.

2 Trustee’s Annual Report 2024

Our strategy

This report explains our progress towards our mission and vision in 2024, and our plans for the future. As reported in our 2023 annual report, the trustees completed a strategic review three years into our 2030 strategy, which was designed in 2019. We considered member and wider stakeholder feedback and the changing external environment. In particular:

Technology agenda - That technology will have a large impact on where and how quality is managed within organisations.
Sustainability agenda - That organisations need to respond innovatively to environmental, social and governance agendas.
Performance agenda - That the true value of quality management and the quality profession in protecting and improving business performance is insufficiently understood by leaders and organisations.
Skills agenda - That tight labour markets combined with the requirement for new skills are creating resource gaps in the quality profession.
CQI and IRCA relevance - That a traditional membership offer is unlikely to sustain the CQI especially given our legacy digital systems and products.

This review underlined the need to increase investment in advocating for the value of quality management to society. From 2024 our strategic plan evolved to focus on three themes:

Quality management - engaging wider industry and stakeholders and helping quality professionals develop quality awareness, culture and capability within their organisations.

Quality profession - upskilling the profession especially in response to the digital and sustainability agendas, attracting new diverse talent into the profession, and positioning the profession as a driver of strategic value.

CQI - improving our systems and capability to deliver value for quality professionals and wider society.

Trustee’s Annual Report 2024 3

Strategy overview 2024-2030

Strategic theme Visions for quality, Our ambition by 2030 the profession and the CQI Promoting quality Our vision for quality management Expanding our corporate offer management develop a corporate offer that supports Helping Quality capability - That ownership both the development of the quality organisations for the management of quality has been develop a quality embedded in organisational value chains more widely within organisations. management through the development of quality culture and culture and capability. and culture capabilities as a Trust and guardianship - That quality quality capability development asset strategic enabler management is valued as the way to that helps quality professionals improve for sustainable protect and enhance organisational the management of quality within their competitiveness. reputation, mitigating the risk of organisations. operational failure and supporting social Developing non-quality professionals and environmental goals by building To develop competence assets to support quality into products, services, projects and non-quality professional roles and allied processes.

Expanding our corporate offer - To develop a corporate offer that supports both the development of the quality professional and the management of quality more widely within organisations.

Developing corporate quality capability and culture -To develop an organisational quality capability development asset that helps quality professionals improve the management of quality within their organisations.

Developing non-quality professionals - To develop competence assets to support non-quality professional roles and allied professional domains.

Agility and adaptability - That quality enables organisations to work at pace to de-risk transformation and achieve performance improvement, including through new digital technologies.

Advocating for quality - To implement an advocacy programme to promote the value of quality management and the quality profession. This is underpinned by a compelling argument for the value of quality management and the role of the quality professional, delivered through collaboration with relevant partner bodies.

Strategic value - That quality management has grown from primarily operational to strategically significant.

4 Trustee’s Annual Report 2024

----- Start of picture text -----
Strategic theme Visions for quality, Our ambition by 2030
the profession and the CQI
----- End of picture text -----

Strategic theme	Visions for quality, the profession and the CQI	Our ambition by 2030

Growing the quality profession Attracting new talent into the profession and developing the new knowledge and skills required in the wider profession to enable the above.	Our vision for the quality profession Business partner- The profession is viewed as a business partner by organisations, enabling superior quality culture and capability. Context relevant- The profession enables organisations to adapt quality management to their specifc contexts and strategies. Technologically agile- The profession is adaptable to technology in terms of digitalising quality management and supporting digital transformation. Societally positive- The profession responds proactively to the sustainability and circular economy agendas. Diverse and learning- the profession is inclusive and diverse to meet new challenges, and focused on learning and improvement.	Career Pathways Map– To defne role profles and career and learning pathways to encourage new talent and support quality professionals advance through their career. Professional development- To implement a professional development ecosystem that disseminates knowledge and good practice, leveraging the collective expertise within our membership for the profession’s beneft. Audit and assurance– To update our IRCA assurance and audit offer to support organisational risk and performance management. Quality business partner– To defne the role of the quality profession as an enabling business partner for organisations and society.
Developing the CQI Investing in the technology and capability to deliver the above sustainably.	Our vision for the CQI Organisations– value the CQI for helping develop quality capability as a tool for success and the quality profession as the key enabler. The quality profession- values the CQI for driving the profession forwards. Members- value the CQI as the leading and inclusive go-to organisation. Society- values CQI and quality as a force for sustainable good and improving quality of life.	Digital transformation– To refresh our digital infrastructure to deliver secure IT systems that support superior, scalable customer value. Growth plan– To deliver growth that meets our strategic ambition. Business intelligence– To implement a data and insights-led approach that supports the needs of the CQI. Brand identity– To position the CQI as relevant and valued to the profession and society. Environmental, social and governance (ESG) strategy– To implement an ESG strategy that supports the value and development of quality globally. CQI capability– To secure the appropriate internal capability and competence to deliver the strategy.

Trustee’s Annual Report 2024 5

“We must evidence simply and clearly how good quality management and good quality practitioners can make the di erence ... � our growing outreach and collaboration with the wider quality ecosystem is vital.”

6 Trustee’s Annual Report 2024

CQI President’s foreword

s a professional body our mission to advance the practice of quality A management for the benefit of society is both important and challenging. Important because our societies need the private and public sectors to innovate and deliver new value at pace, safely and efficiently. Challenging because, if we are honest, the value of good quality management is still not widely accepted as the best way to design and deliver superior, sustainable value. For this reason, balancing our support of our profession with a focus on engaging with and in�uencing industry and policy marks an important next stage in our strategy. On the demand side, we need to show that we understand the challenges that society and organisations face. We must evidence simply and clearly how good quality management and good quality practitioners can make the difference. That is not something the CQI can do alone and that is why our growing outreach and collaboration with the wider quality ecosystem is vital.

On the supply side we need to deliver value for our organisations and live the 2024 World Quality Week theme - ‘from compliance to performance’. A critical task to secure the future of the profession is to attract new people with new skills into our profession. This may be challenging when all professional domains are competing for talent, but what a career option for people who want to make organisations better.

Our Board of Trustees, Council, staff team and volunteers continue to work hard on these matters as you will read in this annual report, and I thank them all for their commitment and contribution to our mission. The result is that we have a growing body of quality professionals. If each of us plays our part in communicating the power of quality management and delivering on that every day, we will succeed.

Lord Jamie Lindsay, President, Chartered Quality Institute

Trustee’s Annual Report 2024 7

In simple terms, quality is about people working together to deliver value. Our progress is the 8 result of the work of many people. Trustee’s Annual Report 2024

Chair’s introduction

024 was another year of good progress for an ambitious CQI. Growth in CQI and 2 IRCA members and learners has boosted our revenue, allowing us to continue investing in the profession. Equally, it is important because our collective success requires momentum and reach in positioning quality as an attractive, professional career option and positioning quality management as a force for good.

In 2024, we continued our investment in the profession, publishing career pathways and Typical Competence Profiles content and delivering our first Quality Careers Week. These are important for the growing number of employers we work with who recognise the need to professionalise the quality function that attracts the kind of exciting new talent represented by our 2024 Emerging Talent Award winner, Lilly Caskey.

Equally important is keeping current quality practitioners up to date with emerging trends and industry changes. It was good to see our first major e-learning CPD course on artificial intelligence. I am grateful to our volunteers who run our branches and Special Interest Groups, which continued to provide excellent professional development opportunities for their member communities. In both our professional networks and at our annual conference, Quality Live, it is encouraging to see the profession embracing digital quality, sustainable quality and, crucially, quality culture.

Getting our quality message out is a growing focus. I was delighted to see another inspiring group of finalists and winners at the International Quality Awards and was staggered by the impact of World Quality Week, themed ‘from compliance to performance’ which reached over 16 million people globally through social media.

A major milestone in 2024 was the first meeting of our CQI Council, which now includes elected members, stakeholder members from industry, allied professional bodies and the wider quality ecosystem. Economies, such as the UK, want to see meaningful performance improvement, as we underlined in the CQI’s response to the UK’s planned industrial strategy. I am encouraged with the appetite for collaboration in the UK and globally to promote the quality agenda.

We finished 2024 in a strong financial position. With that foundation, the Board of Trustees is fully focused on promoting quality as a career, keeping the profession relevant, advocating for quality and improving the CQI. Over the coming months you will see the CQI release more research on the value of quality management and quality as a business partner. You will see more professional development content, including new e-learning courses. You will see us continue to grow our in�uence with industry and policy makers and continue our work to support ongoing ISO management systems standards revisions. And behind the scenes we will be investing in our digital infrastructure to improve customer experience.

In simple terms, quality is about people working together to deliver value. Our progress is the result of the work of many people. On behalf of the Board of Trustees and our members, my gratitude and admiration go to our superb staff team, volunteers and partners. Thank you all.

Rashad Issa, Chair of the Board of Trustees, Chartered Quality Institute

Trustee’s Annual Report 2024 9

Strategic plan progress

2024 highlights

Promoting quality management

World Quality Week - We promoted the value of quality management through World Quality Week 2024: from compliance to performance, achieving 69,664 resource kit downloads (2023: 44,733) and 16 million impressions on social media (2023: 14 million).

International Quality Awards - We promoted the value of the quality profession through the 2024 International Quality Awards with 87 entries from 19 countries.

Global quality community – We represented the CQI at the European Organization for Quality and American Society for Quality conferences and continued supporting the revision of ISO management systems standards.

Policy – We responded to the UK government’s green paper on industrial strategy calling for support of quality skills development within the wider economy.

10 Trustee’s Annual Report 2024

Growing the quality profession

Member growth - Individual membership grew globally by 411 members to 19,851 from 19,440 at the end of 2023.

----- Start of picture text -----
��
��
��
��
��
��
��
��
��
----- End of picture text -----

Learner growth - Learner numbers on CQI and IRCA Certified Training courses increased by 2,036 to 75,882.

----- Start of picture text -----
��
��
��
��
��
��
��
��
�
��
----- End of picture text -----

Trustee’s Annual Report 2024 11

Professional development – We hosted 107 professional development events on quality management topics with 4,286 quality professionals in attendance, including our annual conference, Quality Live.

Mentoring - We supported 345 active mentoring relationships through our online mentoring platform.

Typical Competence Pro�les – We launched our Typical Competence Profiles for key quality management job roles to provide clarity over the typical scope and competence required.

Developing the CQI

People - At the end of 2024 we employed 56 staff (54.5 FTE) in the UK and six in Japan and supported a community of 347 volunteers. Our staff engagement and satisfaction levels remained high, with staff satisfaction scoring 8/10.

Financial growth – Our revenue increased by £876k to £7.28m driven by growth in membership and learners on CQI and IRCA Certified Training courses.

Capital investment – We invested £725k in strategic projects to support our strategies to promote quality management, develop the profession and improve the CQI. The majority (85%) of the investment was made in improving our digital offerings including the development of a new membership system (CRM) and completion of the online examination platform with additional languages. We also completed the Typical Competence Profiles initiative to support members in their quality careers.

“As we move into the second phase of our 10-year strategy, we remain committed to reviewing and adjusting our plans to align with our mission and vision. New ideas and innovations continue at pace, and developing a dynamic quality profession for the future drives our strategic vision.”

12 Trustee’s Annual Report 2024

OUR PROGRESS IN 2024

Strategic theme 1: quality management

Advocating with the quality ecosystem

The first meeting of the refreshed CQI Council took place in July 2024, bringing together representatives from the wider quality infrastructure, industry and other professional bodies (see page 85).

The Council discussed critical priorities from positioning quality management as a strategic tool to developing a quality management culture and capability.

CQI Council Chair, Dave Smith noted after the meeting that, “The CQI Council represents a significant advancement in our strategy. As we operate within a broader ecosystem that positively impacts society, it is crucial to have a platform that integrates external insights and connects with the diverse communities of quality, certification, accreditation and improvement. This is key to our continued success.”

The Council confirmed many of the barriers to positioning quality as a strategic asset and therefore to developing quality culture and capability within our organisations. These common barriers identified ranged from the perception that quality is seen as a compliance activity to the challenge of competing topics, such as security, safety and sustainability.

The Council agreed on several responses to overcome these barriers – many of these are key areas of focus in the next phase of our 2030 strategy. At the core of these responses is the need to escalate our outreach and advocacy to drive engagement. This underscored the input we had from CQI and IRCA volunteers and members while developing our 2030 strategy.

There was strong support for the CQI to balance its focus between the profession and on advocating for quality management with policymakers and industry. One of the CQI’s key messages to stakeholder members was that the CQI cannot achieve its Royal Charter purpose alone. This requires the ecosystem of quality and associated bodies.

Trustee’s Annual Report 2024 13

----- Start of picture text -----
69,664
resource kit downloads
----- End of picture text -----

16 million

impressions on social media

Advocating through World Quality Week

Our theme for World Quality Week (WQW) 2024 was: Quality: from compliance to performance

This theme re�ected the focus of many organisations, sectors and economies on improving productivity and competitiveness. It coincided with the new UK government’s focus on growth; a debate in the EU on the need to balance investment in regulation and compliance with investment in innovation and performance improvement; and the need to improve efficiency by reducing error and waste in sectors from healthcare to construction.

When employed as a strategic tool, quality management has a track record in improving competitiveness and productivity based on innovating value for customers and superior ways of delivering that value. This campaign was an opportunity to position good quality management as a response to societal need for exceptional organisational performance. We were delighted with the global response and the proactive contributions of CQI members and quality professionals in all sectors and geographies.

WQW 2024 video – 10,000 + views WQW 2024 articles – 11,000 + views WQW 2024 social media engagement – 16 million + impressions

Advocating for quality in the UK’s industrial strategy

In December 2024 we responded to the UK government’s green paper on a proposed UK industrial strategy. While the green paper brie�y acknowledged the importance of the UK competing on quality, it failed to provide policy details on quality management.

The green paper excludes detailed plans to support the UK industry’s ability to deliver superior, quality products and services to domestic and global markets, and commitment to improving efficiency and effectiveness to drive productivity growth. Ultimately, to compete on quality.

Our response was to advocate for the inclusion of the following critical success factors in the industrial strategy:

align industry and the public sector
grow quality skills across the economy
grow awareness of quality management
grow a culture of quality within UK industry
align voluntary standards and regulation with competitiveness

14 Trustee’s Annual Report 2024

Promoting quality through the International Quality Awards

Our quality awards celebrate and showcase how quality management and the profession can make tangible contributions to organisations’ success and sustainable performance.

In 2024, we were pleased to have entries from 25 sectors and 19 countries.

Emerging Talent Winner 2024: Lilly Caskey

Lilly is a passionate advocate for the quality profession as demonstrated through her active role co-chairing Leonardo’s Next Generation Network. In collaboration with Leonardo’s management team, she identifies challenges facing the profession and supports the drive for solution-focused change.

Volunteer of the Year 2024: Chrisopher Chinapoo

Christopher Chinapoo has given exceptional service to the CQI and the quality profession in his time as a volunteer. His contributions have made a tangible difference to quality professionals in the Caribbean and worldwide.

Quality Professional of the Year 2024: Judith Ward

One of Judith’s biggest strengths is her ability to make quality accessible to those outside the profession, as showcased through her industry knowledge, quality skills and business acumen. Our judges were impressed with the growth of Mott MacDonald’s quality function under Judith’s leadership and her passion for positioning quality as a key part of project delivery.

Trustee’s Annual Report 2024 15

Quality Team of the Year 2024: Arden and GEM IT

The Arden and GEM IT service desk is a multidisciplinary department – comprising approximately 100 staff – providing technical support to over 70,000 NHS employees across the UK. Established in 2022, the Quality Improvement Team has transformed the outputs and outcomes of the service. Creating clear and robust processes, boosting staff morale and harnessing talent has led to increased retention and, ultimately, improved service delivery to their customers.

Digital Innovation Winner 2024: Netcare Ltd

Netcare Ltd.’s CareOn project has revolutionised the way healthcare is provided across South Africa, and increasingly the globe. Transitioning from a paper-based medical records system to a digital-first approach for hospitals, medical staff, patients and other key stakeholders relied on significant technical innovation and fostering new skills across thousands of end users.

Sustainability Impact Winner 2024: Hayleys Fabric

Former Sustainability Impact winners, Hayleys Fabric, have once again been recognised for their continued commitment to the environmental, social and governance (ESG) agenda. New initiatives include an effective water reduction programme and an innovative underwear fabric. This innovation ensures women and young girls in rural communities have autonomy over their personal care, enabling them to continue to work and attend school while menstruating.

16 Trustee’s Annual Report 2024

Quality Organisation 2024: Shell

United by the vision of ‘No Defects’, Shell drives continuous improvement across all projects and their supply chain, ingraining a Quality Everyday mindset. By embedding a No Defects culture, Shell’s projects have achieved a steep reduction in defects eliminating recurrence while driving transparency on performance and reducing costs attributed to poor quality.

Outstanding Contribution Winner 2024: ADS SC21

Awarded in recognition of its significant impact improving quality at all levels of the supply chain in the aerospace and allied sectors, SC21 offers a simple maturity framework that encourages organisations to build capability and performance in delivery, quality and sustainable improvement.

Trustee’s Annual Report 2024 17

Supporting standards and conformity assessment

During 2024 the CQI continued to support the following UK and global bodies advising on policy and plans:

United Kingdom Accreditation Service (UKAS), Policy Advisory Committee, Policy Advisory Forum, and Management Systems Technical Advisory Committee
European Organisation for Quality (EOQ), Executive Board
British Standards Institute (BSI) / International Organisations for Standardisation (ISO) - liaison status as follows:

CQI ISO liaisons	CQI ISO liaisons
ISO/TC 176	Quality Management and Quality Assurance
ISO/PC 302	Guidelines for auditing management systems
ISO/TC 283	Occupational Health and Safety Management
ISO/TC 309	Governance of Organizations
ISO/IEC JTC 1/SC 27	Information security, cybersecurity and privacy protection

18 Trustee’s Annual Report 2024

The CQI Standards Coordination Committee (SCC) has continued to lead the CQI’s standardsrelated activities.

CQI has retained Category A Liaison for ISO Technical Committee (TC) 176 (responsible for the ISO 9000 series of standards) and has continued to deliver its programme of work related to the revision of ISO 9001. Additionally, the CQI has been a principal participant in TC 176 Task Group (TG) 4, which is focused on emerging themes including digital transformation/Quality 4.0.

The CQI was awarded Category A Liaison status to ISO Project Committee (PC) 302, responsible for guidelines for auditing management systems. We have remained an active contributor to the revision of ISO 19011 focusing on the key trends and drivers identified through the CQI research and development programme, member feedback and consultation and the CQI’s strategic and operational priorities.

The SCC has led the production of a series of articles, webinars and supporting content to keep members informed of standards revision activity and proactively supports the maintenance and development of CQI products and services.

In 2024, the SCC commenced a systematic review of its structure and operations resulting in a series of recommendations for the improvement of the committee to be implemented in 2025.

SCC expert members SCC CQI staff members CQI ISO 9001 Working Group • John Abson CQP MCQI • Ian Howe - Head • Nina Abbassi CQI FCQI

John Abson CQP MCQI
Ian Howe - Head of Membership
Kate Armitage CQP MCQI
- Richard Green CQP FCQI
Debbie John - Head of Product and Assessment
Dr John Bullivant CQP FCQI, FRCPE, FRSM
- Neil O’Doherty MSc CQP FCQI PIEMA
Gareth Kingston - Head of Professional Development
Richard Green CQP FCQI CITP FBCS, IRCA Principal Auditor
- Alexander Woods – Policy Manager
Holly Mulvihill Clark - Head of Certified Training and Education
Zukiswa Raditladi IRCA Principal Auditor
Lyndsey Nassim - Head of Marketing
Simon Waite CQP MCQI
Mike Turner - Head of Profession
Alexander Woods – Policy Manager (Committee Chair)

Trustee’s Annual Report 2024 19

Quality research

Feedback from our members indicated a strong desire to help the profession promote quality management and develop quality culture and capability within their wider organisations.

We initiated a programme of research with Cranfield University to establish the value of quality management in the modern context. This first phase of research commenced in 2024. It focused on a review of existing research and case studies to understand how quality management in�uences business performance. It aimed to identify key performance indicators that re�ect the contribution to quality management and consider emerging trends such as sustainability and digitalisation.

Our future plans

In 2025 we are committed to delivering:

Quality research

Building on the first phase of research undertaken in 2024 to develop a framework to help quality professionals align quality activities to corporate strategy and develop quality culture and capability.

Advocacy capability

We will build our advocacy and outreach capability to develop relationships with and in�uence industry bodies and policymakers to promote the value of quality management across organisations, sectors and the wider economy.

20 Trustee’s Annual Report 2024

----- Start of picture text -----
1,967
new members
----- End of picture text -----

Strategic theme 2: quality professionals

Professional community

CQI and IRCA (rest of the world) register

Across both CQI and IRCA global membership grew to 19,851. We were pleased to report a growth of 2.1% in CQI members, with the register standing at 9,551 members at the end of December. Retention remained broadly in line with previous years, finishing at 83.9%. The main reasons for members leaving were either retirement or moving outside of quality roles.

The IRCA register remained at circa 6,200 for the fourth consecutive year. The overall IRCA member retention figure for 2024 was 81%, seeing a slight drop of 26 members in 2024. We were pleased to launch digital packs for IRCA members, replacing plastic cards and paper certificates with digital assets. This gave members the opportunity to add membership cards to their phone wallets, download digital certificates and share their digital pins on social media. This was well received by members and gave the IRCA brand widespread promotion across a variety of social media channels.

New CQI and IRCA applications

We saw growth in new CQI members for the fourth consecutive year. We finished the year with 1,967 new members, 47 above target and up from 1,805 in 2023.

The number of new IRCA members joining remained steady with 1,282, compared to 1,300 in 2023.

IRCA Japan

The market in Japan remains strong with the membership register breaking 4,000 certificated auditors for the first time, closing the year at 4,122 (3,961 in 2023). The growth is driven by consistently strong retention rates and high levels of recruitment, 545 new members in 2024 (441 in 2023), in part driven by the introduction of online assessments as well as good relationships with industry.

IRCA Japan and the CQI is widely recognised for thought leadership in Japan, evidenced by the strengthening relationship with the Japanese Union of Scientific Engineers (JUSE). The signing of a memorandum of understanding in 2024 between JUSE and the CQI set out the intent for future collaboration.

Trustee’s Annual Report 2024 21

----- Start of picture text -----
8 40
new corporate partners corporate partners
----- End of picture text -----

Corporate partners

We were pleased to welcome eight new organisations to our corporate partner programme. Our programme aims to help the CQI understand and respond to the priorities of quality leaders in industry.

These priorities include attracting new talent into quality teams, engaging the wider organisation in quality and responding to the digitalisation agenda – especially understanding where and how digital technologies can be used to manage and improve quality.

“Becoming a corporate partner or corporate a�liate demonstrates your commitment to quality. CQI corporate partnership will enhance your reputation with your stakeholders and bolster the con�dence of your clients to gain a competitive advantage.”

Vince Desmond Chief Executive Of�cer, CQI

22 Trustee’s Annual Report 2024

Career pathways

Building on the release of the CQI Profession Map in 2023, we released:

A high-level career pathway

This asset outlines the various routes into and through quality careers. It helps individuals understand the diversity of roles and options available to them. It supports employers to present the rich variety of opportunities available to individuals interested in ensuring organisations sustain and improve performance.

��

----- Start of picture text -----
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
��
----- End of picture text -----

Trustee’s Annual Report 2024 23

----- Start of picture text -----
based on data collected from
over 470
international practicing professionals
----- End of picture text -----

Typical Competence Pro�les

In conjunction with the Careers Pathway Map, we released the first six Typical Competence Profiles. These profiles, developed with Catalyst Consulting and The University of the West of Scotland, were based on data collected from from over 470 international practicing professionals to provide a currentstate benchmark of competence. The profiles allow professionals to benchmark competence for current and future roles, acting as an input into professional development plans.

The following example profile displays a summary of the competence of a typical Quality Manager. It describes the typical tier of competence for each of the 18 components of The Profession Map across the five elements of Context, Governance, Assurance, Improvement, Leadership.

24 Trustee’s Annual Report 2024

----- Start of picture text -----
382
attendees from 24 countries
----- End of picture text -----

Quality Careers Week 2024

A new initiative for 2024 saw the launch of our first annual careers weeks, bringing together employers, recruiters and professionals at varying stages of their career to promote the opportunities provided by a career in quality.

We delivered a series of six webinars across the week, with 1,708 people registering to attend them from 78 countries.

Professional development

Quality Live 2024

Our conference aims to provide quality professionals with the opportunity to network and learn with the wider quality community and consider common current and emerging opportunities and challenges. This year’s conference focused on quality culture, digital quality, sustainable quality and skills.

It progressed the digital and sustainability conversation started in 2023 from why the profession should address these topics to practical examples of how they are being approached.

We had 382 attendees, from 24 countries across six continents. They represented the full range of career stages (9% junior/entry level, 55% mid-level and approximately 36% senior level).

The conference featured 12 CPD sessions, and 94% of attendees rated Quality Live at 4/5 or higher.

L-R: Lee Major, Deputy Director, Quality and Regulatory Assurance Division, UKHSA, Chris Achillea , HSEQ Director, Sodexo, Fiona Payne , Senior Quality Manager, CapGemini and Alex Woods Policy Manager CQI.

Roxann Dawson , Business Assurance Director, Tilbury Douglas and CQI Trustee

Trustee’s Annual Report 2024

----- Start of picture text -----
96
events
----- End of picture text -----

E-learning courses

Our e-learning is designed to provide relevant and engaging CPD to quality professionals. Following our two successful pilot courses on Quality 4.0 in 2022, and a guide to The Profession Map in January 2024, we released our first full e-learning course in October 2024 – The future of assurance: discovering the potential of AI.

This course is designed to provide quality professionals with a solid foundation and understanding of the dynamic relationship between assurance and AI implementation. Based on early uptake and positive feedback, we have confidence in our ambitious e-learning programme for 2025.

CPD events – Branches and Special Interest Groups

In 2024 we had 18 active branches and nine active Special Interest Groups (SIGs). We launched one new Special Interest Group (digital transformation) and two micro-SIGs (healthcare and medical devices).

Collectively, our networks delivered CPD to members through 96 events, including 73 webinars, 13 physical meetings and 10 site visits.

Throughout 2024, the CQI executive consulted with members and volunteers about a new model for improved branch operation. This aims to facilitate a greater variety of networks, with governance arrangements proportionate to risk, rather than the current model that takes no account of demographics, geography or member needs. The new model is scheduled to launch in the first half of 2025.

26 Trustee’s Annual Report 2024

----- Start of picture text -----
75,882
learner numbers
----- End of picture text -----

----- Start of picture text -----
2,036 45,514
increase in 2024 learners sat an online assessment
----- End of picture text -----

Certi�ed training courses

CQI and IRCA Certified Training courses delivered through our network of 101 approved training partners continue to be a valued offering, with certified courses being delivered to learners in 145 countries. Learner numbers on CQI and IRCA Certified Training courses increased by 2,036 to 75,882.

E-assessment numbers and exam languages

We first went live with online assessments in November 2022 with ISO 9001 (Quality Management) in English. During 2023 we launched lead auditor and auditor conversion online exams as appropriate for the following ISO standards: 45001 (Occupational Health and Safety), 14000 (Environmental), 27000 (Information Security) and 22000 (Food Safety - including FSSC 22000).

In 2024 we focused on translating the assessments into Spanish, Arabic, Traditional Mandarin and Japanese. As a result, 45,514 learners sat an online assessment, with an additional 4,228 taking resit assessments.

Research

We commenced the first phase of our research into the quality business partner concept, examining how professional domains have approached the business partner role at the individual and team levels.

Trustee’s Annual Report 2024 27

Our future plans

In 2025 we are committed to delivering:

Career pathways and Typical Competence Pro�les

We will research and publish our second tranche of Typical Competence Profiles.

Career pathways and certi�ed training

We will commence a review of our current portfolio and certified training courses against market needs, taking into account changes to relevant ISO management systems standards.

Professional development

We will create a content hub to enable the delivery of multiple content formats to members and nonmembers, ensuring enhanced accessibility.

We will develop a suite of e-learning courses that address CPD needs relating to Tiers 1 and 2 of the CQI Profession Map.

We will introduce a new model of operation for our member networks that takes a risk-based approach to governance to improve the impact of our volunteer community, and encourage more small-scale networking.

Research

We will complete and publish the second phase of our quality business partner research.

28 Trustee’s Annual Report 2024

Strategic theme 3: the CQI

Digital revitalisation (Project Xcelerate)

Project Xcelerate aims to upgrade our technology and business processes to deliver enhanced customer experience more efficiently and effectively. In 2024 we successfully completed a pilot project to test a new CRM database solution and reviewed the core customer processes within our operating framework. Once complete the new database will provide improved access to our services and a more seamless member experience.

Sustainability strategy

In 2024, the Board of Trustees approved a sustainability strategy, outlined in page 40, which brings together a variety of ongoing initiatives from carbon reporting to professional diversity. It focuses on how quality management, the quality profession and the CQI can make a difference.

Our people

Our network of approximately 350 volunteers continues to deliver CPD value to members through 21 geographical networks and 13 special interest networks. We are continuing with the development of our new network governance structure to ensure we are providing the best experience for our volunteer network.

Staff satisfaction remains high with the majority of colleagues being engaged in the strategy and their contribution to it.

Our future plans

In 2025 we are committed to delivering:

Project Xcelerate

We will begin the implementation phase of our new CRM database.

Sustainability strategy

We will commence key activities in our sustainability strategy as outlined on page 40.

Trustee’s Annual Report 2024 29

�nancial 2024

summary

Financial performance

The group generated a surplus in 2024 of £639k (£220k in 2023), before gains and losses. The CQI recorded higher income in 2024 by 15%, and 9% higher costs, resulting in a higher operating surplus for the year.

CQI and IRCA certi�ed learning and development recorded an improved performance compared to 2023 with income increasing by 21% to £3.09m and 75,882 delegates sitting CQI and IRCA certified courses (2023: £2.54m income and 73,677 delegates).

CQI and IRCA membership income showed a small uplift of £394k to £4.03m (2023: £3.63m) with year-on-year increase in new member acquisition in both the CQI and IRCA Japan registers resulting in a slight uplift in the global register (see strategic theme 2: quality professionals for more detail on page 21).

Trading subsidiaries - The group’s financial results include figures from two wholly owned trading subsidiaries.

IRCA Japan KK revenue grew 9% (compared with 1.93% income growth achieved in 2023) and delivered a royalty payment to the Institute of £0.124m (2023: £0.166m).
CQI Services Ltd activities include sponsorship event income of £47k (2023: £35k) in addition to advertising income. The company produced a contribution to reserves of £101k (2023: £43k) in the year, which has continued to result in a much-improved financial position with a surplus showing on its retained earnings of £111k compared to 2023 retained earnings of £36k.

Net income surplus before gains and losses

£639k 2024

£220k 2023

30 Trustee’s Annual Report 2024

----- Start of picture text -----
£5.1m £1.61m
unrestricted reserves free reserves
----- End of picture text -----

£2.96m £5.1m cash balance unrestricted reserves

Investment policy and performance

The CQI operates a low-risk investment policy designed to deliver income while protecting the investment funds over the longer term. This is consistent with the provisions of the Royal Charter. The CQI is a long-term investor, and the value of its investments remains significantly above its original investment. Funds are invested in a Common Investment Fund (CIF), the Newton Global Growth and Income Fund for Charities, which invests within environmental, social, and governance policies.

The CQI’s investment yielded a slightly lower dividend in the year of £42k compared with £44k in 2023, respectively. Market volatility and global geopolitical factors continued to impact the value of investments throughout the year, but were still able to experience some gains. The fund had a closing value of £1.96m (from £1.83m in 2023) and gain of £131k recognised to the accounts compared with a profit of £102k in 2023. The balance of cash held by the group has remained stable over the two years, despite CQI’s levels of investment activity. These investment activities have been made possible due to consistent cash generation from operating activities.

The Finance and Remuneration Committee, responsible for reviewing investment performance and policy, considers the cash holding in individual institutions and manages this risk actively by ensuring the CQI is not over-committed to any one entity. The investment policy is deemed fit for purpose by the Board and is regularly monitored for compliance through the CQI’s quarterly reporting.

Reserves policy

The CQI operates a reserves policy that requires a minimum of three months of budgeted annual operating costs to be retained as free reserves. The trustees consider that this level will provide sufficient funds to respond to any unexpected events.

Group reserves rose to £5.1m in 2024 (2023: £4.4m). Net assets include an investment portfolio valued at £1.96m (2023: £1.83m) at the year end and a cash balance of £2.96m (2023: £3.11m). Through the year 2024, our balances on reserves and short-term liquid funds continued to be in compliance with our investment and reserves policy respectively. At the end of 2024, free reserves was £1.6m which equates to 3.1 months of average 2024 operating costs, compliant with the Institute’s reserves policy of three months.

Summary

Having reviewed the financial position, the trustees are confident that the Institute has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt a going concern basis in preparing the financial statements.

Trustee’s Annual Report 2024 31

Risk pro�le

Risk management

Good risk management is fundamental to the continued work and sustainability of the Institute. We identify and manage risks which could adversely impact the achievement of our strategic purpose and determine the calculated risks we need to take to succeed.

The Institute operates a formal framework for the management of risk, taking the view that risk can represent positive opportunities or negative threats. The Institute maintains a risk register incorporating strategic, economic, operational and compliance risks which are informed by its strategic objectives, performance, voice of its stakeholders, regulatory environment, and analysis of the external environment.

The Board delegates day-to-day responsibility for risk management to the Senior Management Team, who are responsible for identifying and evaluating risks that relate to their areas and activities, implementing appropriate controls, and for ongoing monitoring.

The Governance and Risk Committee reviews the management of risk in detail at each meeting and the Board reviews the Institute’s strategic and compliance risks and the associated project portfolio at each board meeting.

“The Institute operates a formal framework for the management of risk, taking the view that risk can represent positive opportunities or negative threats.”

32 Trustee’s Annual Report 2024

Key business risks and mitigations

Risk Risk response Cyber security (threat) – Because cybercrime The Board monitors cyber security is growing exponentially, there is a threat that a mitigations including controls and successful security compromise will lead to the loss of testing through its Governance and confidentiality, integrity, or availability of information, Risk Subcommittee. We continue data, or information (or control) systems. to strengthen our response to the cyber threat through proactive and reactive measures, adopting a best in market approach. Economic (threat) – Because of uncertain The Board monitors financial financial nancial geopolitical and economic trajectories, and because performance through its Finance and of potential internal factors, such as poor operational Remuneration Committee, adapting performance, there is a threat that the Institute’s financial scenarios to operational and nancial scenarios to operational and revenue and investments are compromised. financial viability. It also adapts financial viability. It also adapts fifinancial plans and controls to maintain our sustainability and reserves policy. Technology (threat) – Because our current The Board has agreed investment in technology stack (website, iMIS, etc.) is reaching end updating the Institute’s technology of life in terms of support and underlying technology, platforms as part of its phase 2 strategy and with the shift to SAAS (software as a service), and monitors implementation and our current self-hosted solutions become less benefit realisation through quarterly fit realisation through quarterly t realisation through quarterly viable. The current systems are not optimised for board meetings. an integrated approach limiting our opportunity to provide a clear customer experience, and there is a threat that our ability to maintain and develop our IT will be compromised and unaffordable.

The Board monitors financial financial nancial performance through its Finance and Remuneration Committee, adapting financial scenarios to operational and nancial scenarios to operational and financial viability. It also adapts financial viability. It also adapts fifinancial plans and controls to maintain our sustainability and reserves policy.

The Board has agreed investment in updating the Institute’s technology platforms as part of its phase 2 strategy and monitors implementation and benefit realisation through quarterly fit realisation through quarterly t realisation through quarterly board meetings.

Digital quality (opportunity) – Because the impact of technology will shift how and where quality of product, service and process is managed, there is an opportunity to support quality functions reposition and to support organisations develop competence and capability.

The Board has agreed investment in research and development of new competences and approaches to quality management as part of the Institute’s phase 2 strategy and monitors implementation and benefit through quarterly board meetings.

Quality skills (opportunity) – Because 67% of surveyed employers (in 2022) struggle to attract and develop quality professional talent, and because organisations are joining the CQI to help address this, and because members seek help in educating and informing non-quality professionals, there is an opportunity to meet these needs through our competence, education, professional credential and CPD offer.

The Board has agreed investment in research and development of career pathways and refreshed training and education provision as part of the strategy’s phase 2. The Board monitors the implementation of this programme and its benefits through its quarterly meetings.

Trustee’s Annual Report 2024 33

----- Start of picture text -----
Risk Risk response
----- End of picture text -----

Risk	Risk response
Sustainability(opportunity) – Because society is placing increased ESG expectations on organisations and because quality management provides a proven system for policy deployment, waste reduction and product, service and process improvement, there is an opportunity to position the CQI, quality management and the profession as a force for social good.	The Board has agreed as part of its phase 2 strategy the development of an ESG strategy building on the work completed in phase 1 to measure baseline carbon footprint, development of its EDI policy, the development of a new member-led Sustainability Special Interest Group and the introduction of new sustainability competences in The Profession Map.
Value of quality(opportunity) – Because the value of quality management and the quality function is not fully understood by organisations, there is an opportunity to reposition quality as a strategic, competitive and social beneft.	The Board has agreed as part of its phase 2 strategy investment in research and a new advocacy programme to defne and promote the value of quality management to organisations and society.
Business continuity(threat) – Because of external events, there is always a threat that the Institute’s operations may be compromised due to sudden and unexpected lack of access to IT, premises, people and suppliers.	The Board monitors the business continuity arrangements and tests through its Governance and Risk Subcommittee.
IRCA offering(opportunity) – Because over half of the Institute’s revenue is derived from the IRCA product and because the external environment for how quality is managed in industry is changing rapidly, there is an opportunity to update and develop this product.	The Board has agreed as part of its phase 2 strategy investment in review and update of its IRCA products and wider assurance offer, and monitors implementation and beneft through quarterly board meetings.
Reputation(threat) – Because of illegal, unethical or incompetent actions directly by the CQI, its employees or indirectly by external customers/ members or suppliers/partners, there is a threat to the good name and good standing of the CQI.	The Board monitors reputation risk through its Governance and Risk Subcommittee, through ongoing monitoring of compliance and through ongoing monitoring of the Institute’s operational management system in terms operational risk, controls and improvement.
Ability to deliver strategy(threat) – Because we have an ambitious strategy, and we recognise the demand for services/support from our customers/stakeholders there is a threat that we are limited in our capacity to deliver both the strategy and the operational demands in line with market expectations and opportunities.	The Board reviews strategy deployment quarterly and agrees annual business plans and budgets considering resource requirements. Any changes or extra resources to strategy deployment are identifed by the Senior Management Team as part of the portfolio management system.

34 Trustee’s Annual Report 2024

Governance and

management

Legal status and group structure

Charitable status and administrative details

The CQI is a registered charity (no. 259678) under the Charities Act 2011 and its expenditure is directed in furtherance of its charitable objects. The Institute was granted a Royal Charter on 23 November 2006.

The charity has two active, wholly owned subsidiary companies, IRCA Japan Kabushiki Kaisha (IRCA Japan KK) and CQI Services,

IRCA Japan KK is a company registered in Japan. Its principal activity is to provide membership services to our members in Japan and to promote the Institute’s auditor certification services offered in Japan.

CQI Services Limited is registered in the UK under company registration number 04572473. The company’s principal activities relate to securing advertising in the Institute members’ magazine, generation of commissions from the Quality Jobs recruitment website and generation of sponsorship income from the International Quality Awards. The Governance and Risk Committee reviews the management of risk in detail at each meeting and the Board reviews the Institute’s strategic and compliance risks and the associated project portfolio at each board meeting.

Trustee’s Annual Report 2024 35

Board and committee structure

Board of Trustees

The trustees, as members of the Board, are the directors of the Institute and the trustees of the charity. The trustees are accountable to the Charity Commission and to CQI members.

The composition of the Board is set out on page 83 (along with the respective meeting participation during the year). New trustees complete an induction programme covering trustee responsibilities, the CQI’s strategy and objectives and undertake periodic refresher training.

Board effectiveness is reviewed after each meeting by the Board, and individual trustee and CEO performance is reviewed annually by the Chair. The Board agenda is built around the CQI strategy so that trustees steer direction based on an understanding of risk, performance and external developments. A board development topic is included in most board meetings.

Statement of trustees’ responsibilities

The trustees are responsible for preparing this Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law, applicable to charities in England and Wales, requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the group and charity and of the net movement in funds of the group and charity for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities Statement of Recommended Practice;
make judgments and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy, at any time the financial position of the group and charity, and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Royal Charter.

The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

36 Trustee’s Annual Report 2024

As far as each of the trustees is aware at the time of the report:

there is no relevant audit information of which the charity and the group’s auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The trustees are responsible for the maintenance and integrity of the group and charity’s financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

The trustees are responsible for approving and directing overall group strategy, major capital projects, budgets, financial control, and risk management.

The trustees are responsible for directing the Institute’s activities and for overseeing the management of the affairs of the Institute; they delegate day-to-day management of the organisation to the Chief Executive and the Senior Management Team. The Board acts on advice and information from regular meetings with the Chief Executive and Senior Management Team. The Board reviews operational performance regularly to satisfy itself that the activities of the Institute are in accordance with the agreed strategic direction and ensures that the executive management has the capacity and resources to meet the Institute’s objectives. The Board meets four times a year.

The CQI Council

The CQI Council exists to advise the Board of Trustees on matters related to its strategy and elect, re-elect and dismiss CQI trustees and council stakeholder members.

The full Council meets once a year to advise the Board. Other duties are conducted by email as required throughout the year.

2024 was the first year of operation of the CQI Council constituted with ordinary members elected by the voting CQI membership and stakeholder members drawn from industry bodies, allied professional bodies, government/regulators and the quality infrastructure. A list of Council members is provided on page 85.

“The trustees are responsible for the maintenance and integrity of the group and charity’s financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.”

Trustee’s Annual Report 2024 37

The CQI Nominating Committee (NC)

The Nominating Committee is drawn from members of the Board. The charter and byelaws grant specific powers and duties to the Council of the Institute to elect up to 15 trustees through the CQI Nominating Committee. The CQI Council appoints new trustees based on recommendations from the CQI Nominating Committee. The Nominating Committee can recommend up to three Trustees for co-option to the Board for appointment as per regulation.

The CQI Finance and Remuneration Committee (FRC)

The FRC is drawn from members of the Board, chaired by a co-opted trustee who is a chartered accountant. The FRC ensures the system of internal control is satisfactory to deliver regulatory compliance, financial probity and value for money. This includes reviewing and challenging financial plans; reviewing budgets and financial statements; overseeing the annual financial audit; reviewing investment policy and performance; and reviewing the reserves policy and staff remuneration.

The CQI Governance and Risk Committee (GRC)

The GRC is drawn from members of the Board and ensures the corporate governance and risk management systems support the CQI’s purpose and strategy through the CQI’s Framework for the Management of Corporate Governance and Framework for the Management of Risk.

38 Trustee’s Annual Report 2024

Charity Governance Code

The Board uses the Charity Governance Code as the standard against which it measures governance performance. The Board reviewed the status against this code in December 2024, and the analysis below shows good progress since 2023. In 2023, the Board introduced a new principle of sustainability to re�ect the need for the Institute to lead by example and measure, improve and transparently report on its environmental impact. In 2024, and as part of phase 2 of its 2030 strategy, the Board developed a more holistic sustainability strategy which is reported below.

----- Start of picture text -----
Charity Governance Code Principle 2023 2024
1. Organisational Purpose
2. Leadership
3. Integrity
4. Decision making, risk and control
5. Board effectiveness
6. Diversity
7. Openness and accountability
8. Sustainability
----- End of picture text -----

Green – Good practice in place, reviewed and improving. Yellow – Good practice in place but requires improvement. Red – Good practice absent.

Trustee’s Annual Report 2024 39

Sustainability report

Sustainability strategy

The CQI operates in a fragile world. We aim to minimise our negative impact on people and the planet and maximise the good we can do aligned with our mission, unique competence and resources. The UN Sustainable Development Goal 17 outlines key areas for our collective action. We can support many of these, directly through how we operate and our 2030 strategy, and indirectly through our members and partners.

Governance goals

To leverage the role of management systems in sustainability governance - By positioning management systems and good governance, assurance and improvement to effectively deploy sustainability policy and objectives within organisations to improve sustainability performance in product, service and process.
To leverage the quality profession for sustainability - By engaging the quality profession and wider UK and global quality ecosystem to apply its quality management expertise and learn the new sustainability knowledge required to drive and deploy sustainability goals in their organisations.
Lead by example - By using quality management principles and methods to drive, measure and transparently report performance against our sustainability goals each year in our annual trustee report.

Environmental goals

To leverage quality management for the benefit of the planet - By positioning quality management principles, methods and tools as the key to improving organisations’ environmental impact and performance.
To leverage the quality profession for the benefit of the planet - By encouraging the quality profession to apply its quality management expertise and learn the new knowledge required to improve environmental performance of processes, products, services, and supply chains.
To achieve net zero - By achieving net zero in scopes 1* (direct operational greenhouse gasses) and 2 (indirect energy purchase sources) and in scope 3 (upstream and downstream in our value chain) by end 2027.

40 Trustee’s Annual Report 2024

Societal goals

To leverage quality management for the benefit of people and society - By positioning quality management principles, methods and tools as the key to improving organisations’ impact on people and society.
To leverage the quality profession for the benefit of people and society - By encouraging the quality profession to apply its quality management expertise and learn the new knowledge to improve societal impact of processes, products, services, and supply chains.
To support quality capability in developing economies - By working with development agencies to make CQI services and networks available in support of quality development projects.
To ensure diversity in the quality profession - By working with quality leaders, employers and the wider profession to make the quality profession attractive to all and to ensure we attract the new diversity of mindsets, skills and experience to support sustainable quality.

Progress in 2024

Sustainability and quality management

We continued to spotlight the role of quality management in supporting sustainability through our International Quality Awards (see page 16). We also used our liaison status with ISO 9001 management system committees to promote the appropriate consideration of sustainable products, services and processes.

Sustainability and the quality profession

In 2024, we continued to operate our Sustainability Special Interest Group to provide CPD for members and promote the role of quality management in supporting sustainability. This builds on previous work to include sustainability topics within The Profession Map and a focus on sustainability during World Quality Week.

Sustainability and the CQI

The major progress in 2024 was for the Board to approve the above sustainability strategy.

Operationally, the CQI’s quality policy, ‘The CQI Way’, embraces quality, ethics, safety, security, and sustainability, including diversity. These topics are reviewed as part of the CQI’s annual internal assessment programme and reported to the Board via the GRC.

Ethical decision-making

A focus in 2024 was to review our policies and processes around robust and ethical decision-making to ensure that we are working with the right partners and supplier organisations.

Trustee’s Annual Report 2024 41

Environmental improvements

The figures below outline our total greenhouse gas emissions in 2024 compared to 2023.

Total Reported Greenhouse Gas Emissions and Intensity Ratios	Total Reported Greenhouse Gas Emissions and Intensity Ratios	Total Reported Greenhouse Gas Emissions and Intensity Ratios	Total Reported Greenhouse Gas Emissions and Intensity Ratios	Total Reported Greenhouse Gas Emissions and Intensity Ratios	Total Reported Greenhouse Gas Emissions and Intensity Ratios	Total Reported Greenhouse Gas Emissions and Intensity Ratios
Scope	Total (tCO2e) (2023)	Total (tCO2e) (2024)	tCO2e / Revenue (2023)	tCO2e / Revenue (2024)	tCO2e / FTE (2023)	tCO2e / FTE (2024)
Scope 1	1.099	0.738	0.178	0.120	0.022	0.013
Scope 2	2.579	5.806	0.418	0.942	0.052	0.104
Scope 3	56.430	71.309	9.152	11.565	1.129	1.273
All Scopes	60.108	77.852	9.748	12.626	1.202	1.390

tCO2e – tonnes of carbon dioxide equivalent emissions

----- Start of picture text -----
Total Greenhouse Gas Emissions by Scope 2023 2024
��
��
��
��
��
��
��
��
��
��
�
��
----- End of picture text -----

Total Greenhouse Gas Emissions by Scope

We remain committed to monitoring our emissions and making improvements where possible.

42 Trustee’s Annual Report 2024

Scopes 1 and 2 are largely constant year on year, and we note that electricity supplied to our building is 100% renewable from UK sources.

Though our overall consumption is low, scope 3 emissions have seen a slight rise, mainly in connection to an increase in in-person attendance at business meetings and events.

We undertook the following initiatives to reduce carbon use:

We moved to Dotdigital, the world’s first carbon-neutral cross-channel marketing automation platform, reducing the impact of our marketing email campaigns by 126g CO2e.
New IRCA digital cards introduced in the first half of 2024 reduced the emissions in this specific category by 42% (plastic production) and 86% (overall freight for worldwide delivery) respectively.

Equity, diversity and inclusion

The CQI built on its equity, diversity and inclusion (EDI) activity from previous years. The EDI process was reviewed and updated to ensure that it remained up to date and suitable for the CQI’s needs internally and externally.

The entire staff team engaged in an interactive workshop to establish a common understanding of EDI and the CQI’s approach. Following this, individual teams reviewed the CQI’s EDI maturity selfassessment and began the process of identifying the activities that are needed to progress EDI maturity throughout the organisation. In 2025 these activities will continue to be the focus of the CQI’s internal EDI activities. Work plans will be developed to improve both the staff and the customer experience.

Trustee’s Annual Report 2024 43

Mean gender pay gap

Management positions

April	2024	17%
April	2023	18%

Men Women 2023 2024

The percentage of women in management positions was 55% in 2024 compared to 54% in 2023

Remuneration policy

The Institute’s policy is to position its overall reward package at the market rate for membership bodies of a similar size, and to encourage and enable individual progression and career development of staff. Recruitment and reward are based on potential and performance only, with policies and training in place to ensure no discriminatory factors are involved. The Institute considers its key management personnel to comprise the trustees and the Senior Management Team (SMT). The trustees provide their time free of charge. The Senior Management Team is listed on page 91.

The FRC undertakes an annual salary review that considers the financial status of the Institute, cost of living and market rates. Once approved by the Board, changes are applied to all employees, at all levels, including key management personnel. In addition, individual salary increases may be offered during the year, following a business case process that looks at performance against objectives (including behavioural) and changes in job role scope. For 2024, a general staff salary increment of 5% was awarded (2025: 3.5%). This considered the rise in the cost of living and general volatility in the markets.

The Institute participates in the Voluntary Gender Equality Reporting Initiative. Calculated in April 2024, the Institute’s mean gender pay gap is 18% (April 2023: 19%) and the median gender pay gap is 9% (April 2023: 26%). Calculations show the gap reducing by 1% and 17% respectively between the two reporting periods. The percentage of women in management positions was 55% in 2024 compared to 54% in 2023. The analysis indicates almost equal numbers of management positions being held by both men and women. The CQI strongly supports equal pay, with individuals carrying out the same role being paid the same, irrespective of gender. Our salaries are benchmarked at market and internal rate. We are open to, and encourage, �exible and part-time working and we promote internal job mobility where possible. The FRC will continue to monitor equal pay and diversity within the context of remuneration.

A working group with representatives from all teams in the CQI is co-ordinating this work, and increasingly EDI is a priority in new and ongoing activities.

As part of the CQI’s workforce and sustainability priority themes, we delivered a series of EDI resources for members, including webinars and videos. During Quality Careers Week, our EDI webinar provided expert insights on the positive impacts of embracing EDI within organisations.

EDI remained an area examined by the CQI’s internal assessment process in 2024, ensuring that all teams prioritise and implement good EDI practice

“The CQI strongly supports equal pay, with individuals carrying out the same role being paid the same, irrespective of gender.”

44 Trustee’s Annual Report 2024

Financial statements

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Institute’s Royal Charter, the Charities Act 2011 and Accounting and Reporting by Charities Statement of Recommended Practice (revised 2015) (Second Edition, effective 1 January 2019) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for the UK and Republic of Ireland (FRS 102).

By order of the Board of Trustees,

Rashad Issa CQP FCQI Chair, Board of Trustees, Chartered Quality Institute

Date 11.06.2025

Trustee’s Annual Report 2024 45

Auditor statement

Independent auditor’s report to the Trustees of the Chartered Quality Institute

Opinion

We have audited the accounts of Chartered Quality Institute (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 31 December 2024 which comprise the consolidated statement of financial activities, balance sheets, consolidated statement of cash �ows, the principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

give a true and fair view of the state of the group’s and of the parent charity’s affairs as at 31 December 2024 and of their incoming resources and application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

46 Trustee’s Annual Report 2024

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Trustee’s Annual Report 2024 47

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the trustees’ report is inconsistent in any material respect with the accounts; or
sufficient accounting records have not been kept by the parent charity; or
the parent charity accounts are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to in�uence the economic decisions of users taken on the basis of these accounts.

48 Trustee’s Annual Report 2024

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements.
We focused on specific laws and regulations which we considered may have a direct material effect on the accounts.
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of representatives of management and the review of minutes of Board of Trustee meetings.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of where management considers there was susceptibility to fraud and knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
challenging assumptions and judgements made by management in its significant accounting estimates;
tested and reviewed journal entries to identify unusual transactions;
tested the authorisation of expenditure;
gained an understanding of the processes in place for the management of the charity’s investments and confirmed the validity of withdrawals from investments; and
investigated the rationale behind significant or unusual transactions.

Trustee’s Annual Report 2024 49

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

review of the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims; and
agreeing accounts disclosures to underlying supporting documentation.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this repor t, or for the opinions we have formed.

Buzzacott Audit LLP

Statutory Auditor 130 Wood Street London EC2V 6DL

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Date: 13 June 2025

50 Trustee’s Annual Report 2024

Financial statements

Consolidated statement of �nancial activities for the year ended 31 December 2024

Note 2024 £’000 Income from: Charitable activities Membership services Learning and development Awareness 4,029 3,087 94 Investments 3 67	2023 £’000

	3,635 2,542 62
	65
Total 7,277 Expenditure on: Charitable activities Membership services Learning and development Awareness 4 4 4 3,092 2,458 1,088	6,304

	3,143 1,887 1,054
Total 6,638 Net income before gains/(losses) on investments and foreign exchange 639 Net gain/(loss) on investments Net gain/(loss) on foreign exchange 13 131 24	6,084
	220
	102 (57)
Net income 794 Reconciliation of funds: Funds brought forward 4,360	265

	4,095
Total unrestricted funds carried forward 20 5,154	4,360

There are no recognised gains or losses other than those recognised above. All activities are continuing.

All activities (income and expenditure) in both years are unrestricted and, therefore, a comparable statement of financial activities is not required.

The notes on pages 54-79 form part of these financial statements

Trustee’s Annual Report 2024 51

Balance sheet as at 31 December 2024

Group Note 2024 £’000 2023 £’000 Fixed assets Intangiblefxed assets Tangiblefxed assets Investments 11 12 13 1,339 231 1,964 822 250 1,833	Institute
	2024 £’000 2023 £’000
	1,329 225 2,025 823 246 1,906
3,534 2,905 Current assets Debtors Cash at bank and in hand 14 1,373 2,959 877 3,112	3,579 2,975
	1,282 2,493 956 2,688
4,332 3,989 Current liabilities Creditors: amounts due within one year 15 2,671 2,504	3,775 3,644
	2,368 2,127
Net current assets 1,661 1,485 Provisions for other liabilities due within one year 17 41 30
	1,407 1,517
	41 30
Net assets 5,154 4,360	4,945 4,462
Total funds: General funds Designated funds 20 20 1,612 3,542 1,930 2,430
	1,416 3,529 2,034 2,428
Total unrestricted funds 5,154 4,360	4,945 4,462

These accounts were approved by the Board and authorised for issue on 11 June 2025 and were signed on its behalf by:

Rashad Issa Chair

The notes on pages 54-79 form part of these financial statements.

52 Trustee’s Annual Report 2024

Consolidated statement of cash �ows for the year ended 31 December 2024

Note 2024 £’000 Cash�ows from operating activities: *Net cash provided by operating activities* 576	2023 £’000
	399
Cash�ow from investing activities: Dividends and interest from investments Spend on internally generated intangible assets Purchase of tangible assets 59 (775) (37)	65 (261) (5)
*Net cash provided by/(used in) investing activities* (753)	(201)
Change in cash and cash equivalents in the reporting period (177) Cash and cash equivalents at beginning of reporting period Exchange gains/(losses) on cash and cash equivalents 3,112 24
	198
	2,971 (57)
Cash and cash equivalents at end of reporting period 2,959	3,112
Reconciliation of net income to net cash�ow from operating activities Net income for the reporting period (as per the statement of�nancial activities) Adjustments for: Depreciation charges Amortisation charges (Gains)/losses on investments (Gains)/losses on exchange Dividends and interest from investments Increase/(decrease) in provisions (Increase)/decrease in debtors Increase/(decrease) in creditors 794 56 258 (131) (24) (67) 11 (488) 167

	265 57 256 (102) 57 (65) 11 (72) (8)
*Net cash provided by operating activities* 576	399
Analysis of cash and cash equivalents Cash at bank and in hand 2,959

	3,112
Total cash and cash equivalents 22 2,959	3,112

The notes on pages 54-79 form part of these financial statements.

Trustee’s Annual Report 2024 53

Notes to the �nancial statements

1. Accounting policies

The principle accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements are prepared on a going concern basis, under the historical cost convention modified to include the recognition of listed investments measured at fair value, which is consistent with the prior year. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (“The SORP”), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The Chartered Quality Institute (“The Institute”) meets the definition of a public benefit entity under FRS 102.

General information

The Institute is a charity registered in England and Wales (charity number 259678). The Institute’s registered office address is Third �oor, 90 Chancery Lane, Holborn, London WC2A 1EU.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group and Institutes accounting policies. In the application of the accounting policies, trustees are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

54 Trustee’s Annual Report 2024

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

The items in the financial statements where these judgements and estimates have been made include:

estimating the useful economic life of tangible fixed assets for the purpose of determining the annual depreciation;
estimating the useful economic life of intangible fixed assets for the purposes of determining the amortisation; and
allocation of staff and support costs across activities.

Basis of consolidation

The Group accounts include the results of the Institute’s subsidiaries: CQI Services Ltd and the International Register of Certificated Auditors Japan Kabushiki Kaisha (“IRCA Japan KK”). A subsidiary is an entity controlled by the Group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The subsidiaries comply with the same accounting policies as the Institute and have been consolidated on a line-by-line basis. All intra-Group transactions, balances, income and expenses are eliminated on consolidation.

The Institute has taken advantage of the exemption from the SORP FRS 102 from disclosing its individual statement of financial activities. The gross income of the Institute for the year was £6.61m (2023: £5.71m) and its result for the year was a net income surplus of £888k (2023: £230k).

Foreign currency

i) Functional and presentation currency

The group financial statements are presented in pound sterling and rounded to thousands. The Institute’s functional and presentation currency is the pound sterling.

ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rate at transaction date. Monetary assets and liabilities denominated in foreign currencies are retranslated at the exchange rate ruling at balance sheet date. Differences are taken to the income and expenditure account.

iii) Translation

The trading results of Group undertakings are translated into sterling at the average exchange rates for the year. The assets and liabilities of overseas undertakings are translated at the exchange rates ruling at the year-end.

Going concern

The trustees continue to monitor the changing landscape resulting from various global geopolitical factors witnessed over the last few years (war in Europe, rising costs etc.) and its impact on the Group’s financials, through scenario planning, monthly review of results against budgets, and assumptions. The Group holds a significant portion of its reserves as cash, has a strong level of free reserves and has been able to adjust its cost base to adapt to the reductions in revenue. In view of this, the trustees are of the opinion that the Institute and Group continue to operate on a going concern basis.

Trustee’s Annual Report 2024 55

Income

All income is recognised once the Institute and group has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably. Income of the Institute is, where applicable, included net of Value Added Tax (VAT) and is allocated to the period to which it relates, carrying forward that part of the income relating to future accounting periods. Income received relating to future accounting periods is deferred and recognised as a creditor within the balance sheet.

Member subscription income is recognised over the period to which the subscription relates and over which the membership services and benefits are provided. Where the subscription spans more than one financial year the income received but not earned in the current financial year is deferred into the next.

Income from all other charitable activities is recognised as earned as the related services are provided.

Income from other trading activities is recognised as earned as the related goods are provided. Investment income is recognised on a receivable basis and the amounts can be measured reliably.

Dividends are recognised once the dividend has been declared, and notification has been received that the dividends are due.

Expenditure

Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the Institute and group to that expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably. Expenditure is recognised on an accruals basis as a liability is incurred, inclusive of VAT, which cannot be recovered.

All the Institute’s expenditure is classified as expenditure on charitable activities and allocated between activity streams. Expenditure is allocated to the particular activity where the cost relates directly to that activity. The cost of overall direction and administration of each activity, known as ‘support costs’ and comprising the salary and overhead costs of the central function, is apportioned based on staff time attributable to each activity.

Support costs also include governance costs, which comprise organisational administration and compliance with constitutional and statutory requirements. The allocation of support and governance costs is analysed in notes 5 and 6.

Employee bene�ts

Short-term benefits, including holiday pay, are recognised as an expense in the period in which the service is received. Termination benefits are accounted for on an accrual basis and in line with FRS 102.

The Institute contributes to Group personal pension schemes, the assets of which are administered by Aviva. They are defined contribution schemes. All contributed costs are accounted for on the basis of charging the cost of providing pensions over the period when the Institute and Group benefits from the employees’ services. The Institute and Group have no further liability under the scheme.

56 Trustee’s Annual Report 2024

Leasing and hire purchase commitments

Rentals paid under operating leases are charged to the income and expenditure account on a straight-line basis over the lease term. The Institute holds no assets under finance leases or hire purchase contracts

Intangible �xed assets

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of the assets to their residual values over their estimated useful lives, as follows:

product development – three to five years
intellectual property – three to five years

Where factors, such as changes in market demand or price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to re�ect the new circumstances. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

Development costs that are directly attributable to the design and testing of identifiable and unique products controlled by the Group are recognised as intangible assets when the following criteria are met:

it is technically feasible to complete the product so that it will be available for use
management intends to complete the product and use or sell it
there is an ability to use or sell the product
it can be demonstrated how the product will generate probable future economic benefits
adequate technical, financial and other resources to complete the development and to use or sell the product are available
the expenditure attributable to the product during its development can be reliably measured

Other development expenditures that do not meet these criteria are recognised as an expense as incurred. Development costs previously recognised as an expense are not recognised as an asset in a subsequent period.

Tangible �xed assets

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. The minimum threshold for capitalisation is £1,000. Depreciation is provided at the following annual rates to write off each asset over its estimated useful life:

improvements to premises – over the term of the lease
office equipment and furniture – five years
computer equipment and software – three years

Trustee’s Annual Report 2024 57

Investments

Investments are a form of basic financial instrument and are initially shown in the financial statements at fair value. Movements in the fair values of investments are shown as net gains and losses in the Statement of Financial Activities.

Profits and losses on the realisation of investments are shown as realised gains and losses in the Statement of Financial Activities. Net gains and losses on investments are calculated between sales proceeds and their opening carrying values or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Financial instruments

The Group has chosen to adopt Section 11 of FRS 102 in respect of financial instruments.

i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction value and subsequently measured at amortised cost. Other financial assets, including investments, are initially measured at fair value. Financial assets are derecognised when (a) the contractual rights to the cash �ows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. A specific provision is made for debts for which recoverability is in doubt.

ii) Financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at the transaction price. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions

iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

58 Trustee’s Annual Report 2024

Provisions

Provisions are recognised where the Institute has a present legal or constructive obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Provisions are measured at the present value or the expenditures expected to be required to settle the obligation.

Fund accounting

Unrestricted funds are those funds available to the Institute and Group for its general purposes. They include funds designated (Note 20) by the trustees for purposes where their use remains at the discretion of the Trustees. It is the policy of the Trustees to retain in unrestricted funds, amounts which in their judgement, can help to mitigate the short-term effects of income volatility; and retain as longterm investment funds to generate sufficient income to meet current and future operational activities of the charity. The Group does not hold any restricted funds. Further information is available in the reserves section of the Trustees’ report.

2. Trading activities of subsidiary undertakings

The Institute has two wholly owned trading subsidiaries. A summary of their trading results is shown below.

CQI Services Limited is incorporated in England and Wales, registered number 04572473. Its registered office is 90 Chancery Lane, London WC2A 1EU. The principal activity of the company is the generation of advertising revenue placed in the Institute’s members’ magazine and helping members find new jobs through the institute’s jobsite. Income and expenditure are included in Membership Services and Awareness in the Group financial statements. Any profits are gift aided to the Institute.

IRCA Japan KK is incorporated in Japan, registered number 0100-01-130705. Its registered office is Burex Kojimachi 8F, 3-5-2 Kojimachi, Chiyoda-ku 102-0083 Tokyo, Japan. The principal activity of the company is to provide local marketing, certification and administration services to IRCA for its auditors in Japan. The income and expenditure of the company has been included under charitable activities of Membership Services in the Group financial statements. IRCA Japan KK pays an annual royalty to the Institute.

Trustee’s Annual Report 2024 59

2. Trading activities of subsidiary undertakings (continued)

	CQI Services	IRCA	Total CQI Services IRCA Total
	Limited	Japan KK	Limited Japan KK
	2024	2024	2024 2023 2023 2023
Summary pro�t and loss accounts:	£’000	£’000	£’000 £’000 £’000 £’000
Turnover	126	746	872 77 688 765
Operating costs	(25)	(554)	(579) (34) (492) (526)
Operating proft	101	192	293 43 196 239
Interest receivable	-	-	- - - -
Proft/(loss) on ordinary activities before taxation	101	192	293 43 196 239
Taxation	-	(10)	(10) - (5) (5)
Proft/(loss) on ordinary activities after	101	182	283 43 191 234
taxation
Gift Aid/Royalty to parent charity	-	(124)	(124) - (166) (166)
Retained in subsidiary	101	58	159 43 25 68
The assets and liabilities of the subsidiaries were:
Current assets	156	435	591 85 450 535
Current liabilities	(45)	(262)	(307) (49) (269) (318)
Total net assets	111	173	284 (36) 181 217
Aggregate share capital and reserves	111	173	284 (36) 181 217

3. Investment income

3. Investment income
2024 £’000 Bank deposit interest and other income Dividend income from shares listed on the London Stock Exchange 25 42	2023 £’000
	21 44
Total 67	65

60 Trustee’s Annual Report 2024

4. Total expenditure

4. Total expenditure
Staff costs £’000 Other direct activity costs £’000 Support costs £’000 Total 2024 £’000 Charitable activities 2024 Membership services Learning and development Awareness 1,156 732 510 1,060 1,308 311 876 418 267 3,092 2,458 1,088 Support costs 1,077 484 (1,561) -




Total charitable costs 3,475 3,163 - 6,638

Staff costs £’000 Other direct activity costs £’000 Support costs £’000 Total 2023 £’000 Charitable activities 2023 Membership services Learning and development Awareness 1,115 557 486 1,126 992 343 902 338 225 3,143 1,887 1,054 Support costs 1,020 445 (1,465) -




Total charitable costs 3,178 2,906 - 6,084

Support costs totalling £1,561,109 (2023: £ 1,465,091) have been allocated across the activities. These include costs associated with IT, HR, finance, property and other central services across the Group. The costs have been allocated based on time spent by departments supporting the various activities.

Trustee’s Annual Report 2024 61

5. Support costs

Staff costs £’000 Premises and of�ce costs £’000 Resources £’000 Information technology £’000 Governance £’000 Total 2023 £’000 Support costs 2024 Membership services Learning and development Awareness 604 289 184 124 59 38 7 3 2 118 56 36 23 11 7 876 418 267
Total support costs 1,077 221 12 210 41 1,561

Staff costs £’000 Premises and of�ce costs £’000 Resources £’000 Information technology £’000 Governance £’000 Total 2022 £’000 Support costs 2023 Membership services Learning and development Awareness 628 235 157 144 55 35 4 1 1 106 40 27 20 7 5 902 338 225
Total support costs 1,020 234 6 173 32 1,465

6. Governance costs

6. Governance costs
2024 £’000 Meetings and travel expenses Audit fees – current year Audit fees – prior year Legal and professional 1 32 - 8	2023 £’000
	1 30 (5) 7
Total 41	33

62 Trustee’s Annual Report 2024

7. Net expenditure for the year

The net outgoing resources for the year are stated after charging:

2024 £’000 Depreciation Amortisation Operating lease rentals for land and buildings Auditor’s remuneration – External audit (excludes VAT) Overseas taxation 56 258 239 32 10	2023 £’000
	57 256 239 24 5

8. Staff costs

2024 £’000 Wages and salaries Social security costs Pension costs Other staff costs 2,742 320 175 238	2023 £’000
	2,583 294 166 135
Total 3,475	3,178
Other staff costs includes staff training, welfare and recruitment and fees for agency staff. £65,258, of staff costs have been capitalised during 2024 (2023: £44,404), for staff time spent exclusively on the Learning & Development E-Assessment Project. The average monthly number of employees during the year was as follows: 2024 Number of employees involved in charitable activities: Membership Learning and development Awareness 23 11 7 Number of employees involved in non-charitable activities: Support 16

	2023
	24 9 6
	14
Total 57	53

Trustee’s Annual Report 2024 63

8. Staff costs (continued)

8. Staff costs (continued)
The number of employees whose remuneration (excluding redundancy) fell into the following bands were: 2024 £60,001 – £70,000 £70,001 – £80,000 £80,001 – £90,000 £90,001 – £100,000 £100,001 – £110,000 £110,001 – £120,000 £120,001 – £130,000 £130,001 – £140,000 2 5 - 1 - 2 - 1	2023
	5 3 - 1 1 1 1 -

The Institute made contributions of £60,553 (2023: £60,537) to the money purchase personal pension schemes of eleven (2023: nine) employees whose emoluments exceeded £60,000.

The Institute considers its key management personnel to comprise the trustees and the Senior Management Team (SMT). The trustees provide their time free of charge. The total remuneration, employer’s national insurance contributions, benefits and pensions paid to or on behalf of the SMT in the year was £452,579 (2023: £427,081).

64 Trustee’s Annual Report 2024

9. Related Party Transactions

No member of the Board received any remuneration in 2024 (2023: £nil) for their roles as trustees. A total of £2,582 (2023: £17,828) was paid to, or to third parties on behalf of 6 (2023: 4) members of the Board in reimbursement of expenses incurred on Institute business during the year. In addition to this, the Institute paid £3,793 for indemnity insurance (2023: £3,793).

One of the Institute’s trustees is the Head of Business Process and Quality at BAM Nuttall Ltd. As a CQI corporate partner, BAM Nuttall Ltd were invoiced and paid a membership fee of £5,500 in 2024 (2023: £5,250). This transaction was in line with the Institute’s normal course of business and its standard terms and conditions, there was no outstanding balance at 31 December 2024 (2023: £nil) and no amounts were written off during the year 2024: (2023: £nil). In addition to the activities listed with the CQI, BAM Nuttall Ltd paid £3,600 (2023: £6,000) to CQI Services Limited toward the annual International Quality Awards event.

A member of the Institute’s Senior Management Team is on the Board of the European Organisation for Quality (EOQ). As a corporate member of the EOQ, CQI paid €18,500 (£16,287) (2023: €17903 (£16,181) in membership fees in 2024. All transactions were at arm’s length. There was no outstanding balance as at 31 December 2024 (2023: £nil).

The following members of the Institute’s senior management team are also members of the Board of Directors of the Institute’s subsidiary, IRCA Japan KK: Vincent Desmond and Tracey Singer. In 2024, an annual royalty of £123,882 (2023: £165,611) was charged by the Institute to IRCA Japan KK, with the full balance being outstanding at 31 December 2024 and expected to be paid in 2025. Both were also members of the Board of Directors of CQI Services where the company was charged a management fee by the Institute of £18,181 (2023: £17,315)

One of the Institute’s Trustees was a Director of Quality at AWE plc and resigned in September 2023. In the prior year as a Corporate Partner of the CQI, AWE plc were invoiced and paid a membership fee of £5,500 in 2023. This transaction was in line with the Institute’s normal course of business and its standard terms and conditions, there was no outstanding balance at 31 December 2024 and no amounts were written off during the year. Before joining AWE plc, this Trustee had been Director of Quality at Balfour Beatty, another Corporate Partner of the Institute. In the prior year Balfour Beatty was invoiced a membership fee of £5,500. This transaction was in line with the Institute’s normal course of business and its standard terms and conditions, there was no outstanding balance at 31 December 2024. (2023:£nil) and no amounts were written off during the year (2023: £nil). As at the end of the financial year (31.12.24), the trustee has since stepped down. In addition to the activities listed with CQI, AWE PLC paid £15,000 + Vat to CQI Services as sponsorship income toward the annual International Quality Awards event (£7,500 + VAT in 2023).

Trustee’s Annual Report 2024 65

10. Taxation

The Institute is a registered charity and is, therefore, not subject to corporation tax on its charitable activities. A provision has not been made for corporation tax for CQI services, in spite of the profit realised in 2024 as the profits will be Gift Aided to the Institute. Overseas taxation relates to income tax suffered by IRCA Japan KK on its profits for the year.

2024 £’000 Overseas taxation 10
	2023 £’000
	5

11. Intangible �xed assets

Group Website development £’000 Intellectual property £’000 Software and systems £’000 Cost As at 1 January 2024 Additions – internally generated Written off in the year 596 9 - 549 197 - 1,093 569 -	Total £’000
	2,238 775 -
As at 31 December 2024 605 746 1,662	3,013
Amortisation As at 1 January 2024 Charge for the year Impairment 558 13 - 346 68 - 512 177 - Written off in theyear - - -
	1,416 258 -
	-
As at 31 December 2024 571 414 689	1,674
Net book value As at 31 December 2024 34 332 973

	1,339
As at 31 December 2023 38 203 581	822

66 Trustee’s Annual Report 2024

11. Intangible �xed assets (continued)

The Institute Website development £’000 Intellectual property £’000 Software and systems £’000 Cost As at 1 January 2024 Additions – internally generated Written off in the year 557 - - 549 197 - 1,093 569 -	Total £’000
	2,199 766 -
As at 31 December 2024 557 746 1,662	2,965
Amortisation As at 1 January 2024 Charge for the year Impairment 519 14 - 346 68 - 512 177 - Written off in theyear - - -
	1,377 259 -
	-
As at 31 December 2024 553 414 689	1,636
Net book value As at 31 December 2024 24 332 973

	1,329
As at 31 December 2023 38 203 581	822

Included in intangible fixed assets: website development costs of £8,973 (2023: £38,761), accumulated depreciation of £Nil (2023: £38,761) and net book value of £8,973 (2023: £Nil) relating to assets developed by IRCA Japan KK. At the year end £403k was committed to software and systems project.

Trustee’s Annual Report 2024 67

12. Tangible �xed assets

12. Tangible�xed assets
Group Improvements to premises £’000 Of�ce equipment and furniture £’000 Computer hardware £’000 Cost As at 1 January 2024 Additions in year Disposals 486 0 - 85 7 - 113 30 -	Total £’000
	684 37 -
As at 31 December 2024 486 92 143	721
Depreciation As at 1 January 2024 Charge for the year Eliminated on disposal 274 29 - 72 9 - 88 18 -
	434 56 -
As at 31 December 2024 303 81 106	490
Net book value As at 31 December 2024 183 11 37

	231
As at 31 December 2023 212 13 25	250

68 Trustee’s Annual Report 2024

12. Tangible �xed assets (continued)

12. Tangible�xed assets (continued)
The Institute Improvements to premises £’000 Of�ce equipment and furniture £’000 Computer hardware £’000 Cost As at 1 January 2024 Additions in year Disposals 486 - - 48 - - 113 31 -	Total £’000
	647 31 -
As at 31 December 2024 486 48 144	678
Depreciation As at 1 January 2024 Charge for the year Eliminated on disposal 274 29 - 39 6 - 87 18 -
	400 53 -
As at 31 December 2024 303 45 105	453
Net book value As at 31 December 2024 183 3 39

	225
As at 31 December 2023 212 9 26	247

Trustee’s Annual Report 2024 69

13. Fixed asset investments

13. Fixed asset investments
Group 2024 £’000 2023 £’000 Listed investments Unlisted investments 1,964 - 1,833 -	Institute
	2024 £’000 2023 £’000
	1,964 61 1,833 73
Market value as at 31 December 2024 1,964 1,833	2,025 1,906
Historic cost of investments 950 950	1,031 1,031
Analysis of movement: At 1 January Additions Net gains/(losses) 1,833 - 131 1,731 - 102

	1,906 - 131 1,804 - 102
As at 31 December 2024 1,964 1,833	2,037 1,906

Listed Investments

The CQI continued to invest in a Common Investment Fund. As at 31 December 2024, the fund comprised 31% UK equities, 47% overseas equities, 18% bonds, and 4% cash. Their fair value as at 31 December 2023 and 2024 is shown above at £1.83m and £1.96m respectively.

Unlisted investments in subsidiary undertakings

The Institute holds 100% of the voting capital of CQI Services Ltd, a company registered in England. The share capital of the company comprises 10,000 shares of £1 each. The company’s principle activities are the provision of advertising revenue in the Quality World magazine and the CQI websites, management consultancy referrals, catering and hire of facilities. The company also manages the International Quality Awards.

The Institute holds 100% of the 10 million Japanese Yen voting share capital of the International Register of Certified Auditors Japan KK, a company registered in Japan. The company’s principal activity is to provide local marketing, administration and certification services to Japanese auditors.

70 Trustee’s Annual Report 2024

14. Debtors

14. Debtors
Group 2024 £’000 2023 £’000 Trade debtors Amounts owed by Group undertakings Other debtors Prepayments and accrued income 740 - 284 349 406 - 191 280	Institute
	2024 £’000 2023 £’000
	693 28 217 344 380 181 118 277
Total 1,373 877	1,282 956

15. Creditors

Group 2023 £’000 2023 £’000 Trade creditors Other taxes and social security Other creditors Accruals and deferred income 253 97 72 2,249 222 92 48 2,142	Institute
	2023 £’000 2023 £’000
	225 76 72 1,995 209 70 48 1,800
Total 2,671 2,504	2,368 2,127

Trustee’s Annual Report 2024 71

16. Deferred income

Group 2024 £’000 2023 £’000 At 1 January 2024 Amount released to incoming resources Amount deferred in the year 1,826 (1,826) 2,009 1,746 (1,746) 1,826	Institute
	2024 £’000 2023 £’000
	1,498 (1,498) 1,578 1,405 (1,405) 1,498
At 31 December 2024 2,009 1,826	1,578 1,498

Textbox 271, TextboxTextbox 272, TextboxIncluded in creditors (deferred income) is a total of £2,009,060 (2023: 1,826,466) which relates to deferred income. £714,831 relates to IRCA membership renewal fees received in the year but not yet earned (2023: £734,668). The remainder is income for 2024 fees raised in October, November and December 2024. This figure consists of £939,784 (2023: £768,736) for CQI Membership, £219,065 (2023: £205,337) for IRCA Membership, £48,190 for fees from Corporate Partners (2023: £21,950), £50,299 from IRCA OEA fees (2023: £52,031) and £36,891 from ATPs (2023: £36,220). Sponsorship income received in 2024 relating to the International Quality Awards was £15,000 + VAT (2023: £7,500 + VAT).

17. Provisions for other liabilities

The Group and Institute had the following provisions during the year:	Dilapidations provision 2024 £’000 Total 2024 £’000	Dilapidations provision 2022 £’000 Total 2022 £’000
At 1 January 2024	30 30	19 19
Additions dealt with in the Statement of Financial Activity	11 11	11 11
Reclassifed as current liability during
the year	- -	- -
At 31 December 2024	41 41	30 30

As part of the Group’s property leasing arrangements there is an obligation to repair damages which are incurred during the life of the lease, such as wear and tear. The cost relating to the Institute’s new premises on Chancery Lane is charged to profit and loss as the obligation arises. The provision is expected to be utilised in 2031 when the lease terminates.

72 Trustee’s Annual Report 2024

18. Financial instruments

The Group has the following financial instruments:

Group 2024 £’000 2023 £’000 Financial assets that are debt instruments measured at amortised cost: Trade receivables Other receivables Amounts owed by Group 740 284 - 406 191 -	Institute
	2024 £’000 2023 £’000
	693 217 28 380 118 181
1,024 597	938 679
Financial assets that are debt instruments measured at fair value: Investments Investment in cash and cash equivalents 1,964 2,959 1,833 3,112
	1,964 2,493 1,833 2,688
4,923 4,945	4,457 4,521
Financial liabilities measured at amortised cost: Trade creditors Other creditors 253 169 222 140
	225 148 209 118
422 362	373 327

Net�nancial assets measured at amortised cost 5,525 5,180	5,022 4,873

Trustee’s Annual Report 2024 73

19. Other �nancial commitments

At 31 December 2024, the Group and Institute had the following future lease payments under non-cancellable operating leases:

Land and buildings Group 2023 £’000 2023 £’000 Not later than one year Later than one year and not later thanfve years; and Later thanfve years 293 95 - 293 388 - Lease payments recognised as an expense through the statement offnancial activity 239 239	Institute
	2023 £’000 2023 £’000
	233 19 - 233 253 -
	175 175

Equipment Leases:

Land and buildings Group 2024 £’000 2023 £’000 Not later than one year Later than one year and not later thanfve years; and Later thanfve years 3 6 - 7 11 - Lease payments recognised as an expense during the year 3 7	Institute
	2024 £’000 2023 £’000
	4 1 - 4 4 -
	1 4

74 Trustee’s Annual Report 2024

20. Funds

All assets and liabilities are held within unrestricted funds.

Group 2024	Fund balances	Income	Expenditure	Transfers	Gains	Fund balances
	brought				and	carried
	forward				losses	forward
Fund Name	£’000	£’000	£’000	£’000	£’000	£’000
General Funds	1,930	7,241	(6,283)	(1,428)	152	1,612
Fixed Asset Reserve	1,073	-	(316)	812	-	1,569
PQG Reserve	136	36	(39)	-	3	136
IT Project Reserve	765	-	-	700	-	1,465
Product Development Reserve	456	-	-	(84)	-	372
Total Funds	4,360	7,277	(6,638)	-	155	5,154
Institute 2024
General Funds	2,034	6,443	(5,844)	(1,412)	195	1,416
Fixed Asset Reserve	1,069	-	(311)	796	-	1,554
PQG Reserve	136	36	(39)	-	3	136
IT Project Reserve	767	-	-	700	-	1,467
Product Development Reserve	456	-	-	(84)	-	372
Total Funds	4,462	6,479	(6,194)	-	198	4,945

Trustee’s Annual Report 2024 75

20. Funds (continued)

All assets and liabilities are held within unrestricted funds.

	Fund balances	Income	Expenditure	Transfers	Gains	Fund balances
	brought				and	carried
	forward				losses	forward
Group 2023	£’000	£’000	£’000	£’000	£’000	£’000
General Funds	2,047	6,275	(5,736)	(697)	41	1,930
Fixed Asset Reserve	1,113	-	(307)	267	-	1,073
PQG Reserve	144	29	(41)	-	4	136
IT Project Reserve	511	-	-	254	-	765
Product Development Reserve	280	-	-	176	-	456
Premises Reserve	-	-	-	-	-	-
Total Funds	4,095	6,304	(6,084)	-	45	4,360
Institute 2023
General Funds	2,185	5,685	(5,213)	(694)	71	2,034
Fixed Asset Reserve	1,107	-	(302)	264	-	1,069
PQG Reserve	144	29	(41)	-	4	136
IT Project Reserve	513	-	-	254	-	767
Product Development Reserve	280	-	-	176	-	456
Premises Reserve	-	-	-	-	-	-
Total Funds	4,229	5,714	(5,556)	-	75	4,462

The Fixed Asset reserve represents the approximate value of tangible and intangible assets as these funds are not available for day-to-day operations of the Institute.

The PQG reserve is equal to the bank balances and share of investments held by the Pharmaceutical Quality Group. This special interest group meets the needs of quality professionals within the pharmaceutical industry through regular meetings on quality assurance, good manufacturing practice and ‘hot-topics’ and developing guidance on a range of regulatory requirements.

The IT project reserve represents money set aside for the planned redevelopment of the Institute’s digital infrastructure including the replacement CRM system due to deliver the first phase in 2026.

The product development reserve represents money set aside for the continuation of learning and development and policy projects, to be expended over the next two financial years.

There is no current premises reserve as there are a further 5 years available on the current building lease and future offices are likely to be fully fitted on occupation.

76 Trustee’s Annual Report 2024

21. Analysis of net assets between funds

	General	PQG	IT Project	Fixed Asset	Product	Premises	2024
	Funds	Reserve	Reserve	Reserve	Development	Reserve	Total
					Reserve		Funds
Group 2024	£’000	£’000	£’000	£’000	£’000	£’000	£’000
Intangiblefxed assets	-	-	-	1,339	-	-	1,339
Tangiblefxed assets	-	-	-	231	-	-	231
Investments	1,886	78	-	-	-	-	1,964
Current assets	2,436	59	1,465	-	372	-	4,332
Current liabilities	(2,671)	-	-	-	-	-	(2,671)
Non-current liabilities	(41)	-	-	-	-	-	(41)
	1,612	136	1,465	1,569	372	-	5,154

Institute 2024
Intangiblefxed assets	-	-	-	1,329	-	-	1,329
Tangiblefxed assets	-	-	-	225	-	-	225
Investments	1,947	78	-	-	-	-	2,025
Current assets	1,878	59	1,467	-	372	-	3,775
Current liabilities	(2,368)	-	-	-	-	-	(2,368)
Non-current liabilities	(41)	-	-	-	-	-	(41)
	1,416	136	1,467	1,554	372	-	4,945

Trustee’s Annual Report 2024 77

21. Analysis of net assets between funds (continued)

	General	PQG	IT Project	Fixed Asset	Product	Premises	2023
	Funds	Reserve	Reserve	Reserve	Development	Reserve	Total
					Reserve		Funds
Group 2023	£’000	£’000	£’000	£’000	£’000	£’000	£’000
Intangiblefxed assets	-	-	-	822	-	-	822
Tangiblefxed assets	-	-	-	250	-	-	250
Investments	1,755	78	-	-	-	-	1,833
Current assets	2,709	59	765	-	456	-	3,989
Current liabilities	(2,504)	-	-	-	-	-	(2,504)
Non-current liabilities	(30)	-	-	-	-	-	(30)
	1,930	137	765	1,072	456	-	4,360

Institute 2023
Intangiblefxed assets	-	-	-	822	-	-	822
Tangiblefxed assets	-	-	-	247	-	-	247
Investments	1,828	78	-	-	-	-	1,906
Current assets	2,363	58	767	-	456	-	3,644
Current liabilities	(2,127)	-	-	-	-	-	(2,127)
Non-current liabilities	(30)	-	-	-	-	-	(30)
	2,034	136	767	1,069	456	-	4,462

78 Trustee’s Annual Report 2024

22. Analysis of changes in net debt

	At 1 January	Cash�ows	Aquired	Foreign	At 31
	2024			exchange	December
				movements	2024
Group 2024	£’000	£’000	£’000	£’000	£’000
Cash at bank and in hand	3,112	(177)	-	24	2,959
Cash and cash equivalents	3,112	(177)	-	24	2,959


	At 1 January	Cash�ows	Aquired	Foreign	At 31
	2023			exchange	December
				movements	2023
Group 2023	£’000	£’000	£’000	£’000	£’000
Cash at bank and in hand	2,971	198	-	(57)	3,112
Cash and cash equivalents	2,971	198	-	(57)	3,112

Trustee’s Annual Report 2024 79

Board of trustees

Rashad Issa CQP, FCQI

is the Quality and Business Improvement Lead at the Baltic Exchange overseeing the organisation’s improvement and assurance programmes. Before becoming a trustee, he volunteered for the CQl’s London Committee, participating in the mentoring programme and the Quality Connect platform. Rashad’s experience spans the financial services, retail, health and shipping sectors. He has expertise in developing and implementing robust operational strategies, streamlining complex policies and procedures on a global scale, establishing project management offices, and implementing quality management frameworks with key stakeholders to achieve strategic objectives. Rashad has been recognised as a Fellow of the CX Academy for his contributions to elevating the profile of the customer experience industry. He was an Insights’ Advisor for the Global Diversity, Equity and Inclusion initiative with the Project Management Institute.

Mike Bostock FCA is a finance professional with extensive experience in audit, financial management and strategic planning. He holds an Economics degree from Leeds University, qualified as a Chartered Accountant in 2000, and achieved fellowship status in 2010. He began his

career in audit before moving to the Chartered Institute of Management Accountants (CIMA), where he progressed from Financial Accountant to Head of UK Finance. In 2018, he joined the Rail Safety and Standards Board (RSSB) as Head of Finance, overseeing budgeting, forecasting and financial reporting. His key achievements include leading multiple ERP and budgeting software implementations, supporting company-wide post-Covid restructuring and delivering the organisation’s five-year strategic plan.

Christopher Chinapoo ASQ CMQ/ OE, ASQ CQA CQP FCQI has over 25 years’ experience in quality, health, safety, sustainability, resilience and risk management. He is currently the Chair of the technical

oversight committee to the CARICOM Secretariat for the 10 EDF fund on Crime and Violence Prevention. Christopher is a consultant, coach and auditor in various sectors, including energy, construction, water, national security, and higher education. He is a life member of the National Association of Blacks in Criminal Justice and a regular contributor to the UK Chartered Quality Institute’s Quality World magazine and the Journals of the American Society for Quality. Christopher is also a member of the CQI Caribbean Branch, the CQI Deming Special Interest Group and Secretary for the CQI Renewable Energy Special Interest Group.

David Anderson CQP FCQI is the Director of Business Assurance, Quality, and Management Systems at BAM UK & Ireland. With over 30 years of experience in the construction industry, David is dedicated to

enhancing quality, assurance and operational excellence within the built environment. He focuses on future practices and innovative strategies to improve business outcomes. His leadership has been instrumental in positioning BAM UK & Ireland as a leader in quality, process management and assurance. He is an advocate for diversity of thinking and inclusion as an enabler to any high performing business. David’s involvement in various industry groups demonstrates his commitment to collaboration for the benefit of the industry and society. Recognising his in�uence on quality management practices and leadership, he was named the CQI’s International Quality Professional of the Year in 2020.

80 Trustee’s Annual Report 2024

Dr Evi Viza MIET FRSA, CQP MCQI, IET, FRSA, LSSBB is a Manufacturing Engineer specialising in quality management and continuous improvement. She is a Chartered Quality Professional, and a Black Belt Lean Six Sigma practitioner. Dr Viza is a

member of the Institute of Engineering and Technology (IET) and Chair of the IET Manufacturing group in Scotland. She is also a Fellow of the Royal Society of Arts (FRSA) and a trustee member of the Kenyan Women in Scotland Association. Currently, Dr Viza is the Programme Leader on the MSc Quality Management at the University of the West of Scotland, driving innovation and gender equality in manufacturing. She is passionate about gender diversity and has led interdisciplinary research projects on systems approach and sustainability with a user-centric focus, including the Royal Academy of Engineering’s ‘FemaleInspires’ initiative and partnerships with Association with Professional Women Engineers in Nigeria (APWEN).

Howard Cooper

CQP FCQI is a retired quality professional who was a Specialist Director – Nuclear Quality for Jacobs UK. With a 37-year career in the UK nuclear and defence industry, including 23 years in senior quality roles, Howard has led the

establishment, refreshment and implementation of quality management for projects, programmes, organisations and enterprises. A founding member of the CQI Nuclear Special Interest Group, Howard is passionate about the importance of professional qualification for quality professionals, as well as supporting education, career pathways, mentoring and leadership development.

Dr. Makis Foros CQP MCQI, BTEC, BEng (Hons), MBA, PhD currently works as a Product Optimisation Manager for the Board & Accessories Optimisation Team within Saint Gobain

Interior Solutions. Besides being an active World Class Manufacturing TPM Instructor and Lean Six Sigma black belt / Kaizen practitioner, his true passion lies with coaching and mentoring people; assisting them with reaching their true potential and meeting their aspirations. Makis has held many roles within the quality, process, technical production and new product development arenas, and brings over 25 years’ experience within the construction industry, including strategic policy deployment and change management within organisations.

Rachelle Beasley CQP MCQI is the Quality and Health & Safety Manager at WEPA, with experience in manufacturing, house and social care. She brings over a decade of experience in

quality and auditing across various industries and gained a MSc in Quality Management in 2017. Rachelle was part of the CQI’s Next Generation Network Committee from 2015 to 2019, working to make quality a career choice for young people. She brings experience within the voluntary sector and as a board member, sitting on boards for charitable organisations committed to improving lives within communities. Rachelle is also an advocate for young quality professionals, diversity and the future of quality.

Trustee’s Annual Report 2024 81

Roxann Dawson CQP

FCQI is the Diversity & Inclusion Governor & Lead for a local secondary school. Through her work the school has been awarded both Silver and Gold RACE CHARTER status. Before becoming a trustee in September 2017,

Roxann served as a member of the Advisory Council and now chairs the CQI Governance Risk Committee. She is an active volunteer for the CQI and has contributed to the establishment of the 2030 strategy, the Competency Framework 2.0, The Profession Map and Quality World magazine. Roxann is known for her passion and energy for the sustainability of the quality profession, advocating for the CQl and quality profession. Roxann is a diversity and equality ambassador and seeks out opportunities to be the change she would like to see.

Victoria Yates

CQP MCQI is the Head of Change and Transformation at leading temporary works provider Mabey Hire. She brings over 16 years of experience from a variety of operational and

Victoria Derbyshire

CQP MCQI is Business Stream Quality Manager for Cavendish Nuclear Ltd. Her experience ranges across the nuclear, defence, construction, and utilities sectors, specialising in utilising data analysis to inform business

improvement and delivering corporate and operational governance and assurance activities. She started her career in one of the first quality apprenticeships of its kind and is passionate about raising the profile of the quality profession. Victoria wants young people to have the same opportunities available that she did and has worked closely with organisations helping them develop and introduce their own quality apprenticeships and early career options. She also coaches and mentors quality professionals undertaking apprenticeships.Victoria actively engages with the Nuclear Special Interest Group, as a steering group member and has previously supported Women in Nuclear UK as Quality Lead. Victoria won the CQI’s the Emerging Talent Award in 2019.

business improvement roles from the construction and engineering sector, with the first five years of her career in site management roles on major construction and infrastructure projects. Victoria is passionate about continuous improvement and is an advocate for balancing creativity with a structured approach to develop the best solutions. Victoria loves being a STEM ambassador to promote quality and engineering careers to young women and girls. She was a member of the CQI’s winning Team of the Year Award in 2018.

82 Trustee’s Annual Report 2024

Trustee Participation 2024

----- Start of picture text -----
Attendance Attendance
Date of
Current of�ce at Board at committee
Position appointment/ Committee member
holder meetings in meetings
resignation
2024 2024
----- End of picture text -----

Position	Current of�ce holder	Date of appointment/ resignation	Attendance at Board meetings in 2024	Committee member	Attendance at committee meetings 2024

Chair	Rashad Issa	Appointed March 2021	4/4	Finance and Remuneration Committee	4/4
Honorary Treasurer	Mike Bostock	Appointed January 2025	1/0*	Finance and Remuneration Committee Chair	1/0**
Honorary Treasurer	Hannah Kingsley	Appointed December 2024 Resigned	4/4	Finance and Remuneration Committee Chair	4/4
Board Member	Roxann Dawson	Appointed September 2017	3/4	Governance and Risk Committee Chair	4/4
Board Member	Rachelle Beasley	Appointed March 2020	4/4	Governance and Risk Committee	2/4
Board Member	David Anderson	Appointed March 2021	3/4	Finance and Remuneration Committee	2/4
Board Member	Christopher Chinapoo	Appointed March 2022	4/4	Governance and Risk Committee	4/4
Board Member	Victoria Derbyshire	Appointed March 2022	4/4	Finance and Remuneration Committee Nominating Committee	4/4 4/4
Board Member	Dr Evi Viza	Appointed June 2023	2/4	Governance and Risk Committee	2/4

Trustee’s Annual Report 2024 83

Trustee Participation 2024 (continued)

Position	Current of�ce holder	Date of appointment/ resignation	Attendance at Board meetings in 2024	Committee member	Attendance at committee meetings 2024

Board Member	Howard Cooper	Appointed June 2023	4/4	Governance and Risk Committee Nominating Committee Chair	4/4 4/4
Board Member	Dr Makis Foros	Appointed June 2023	2/4	Finance and Remuneration Committee	2/4
Board Member	Victoria Yates	Appointed June 2023	3/4	Nominating Committee	3/4

Participated in December 2024 as a non-voting member

** Participated in November 2024 as a non-voting member

84 Trustee’s Annual Report 2024

CQI Council

----- Start of picture text -----
Name Position
----- End of picture text -----

Name	Position

Dave Smith	Chair – Ordinary member
Tom Antony	Ordinary Member
Tony Brachmanski	Ordinary Member
Abigail Carpenter	Ordinary Member
Michelle Clark	Ordinary Member
Nicola Cornforth	Ordinary Member
David Edwards	Ordinary Member
Mark Eydman	Ordinary Member
Andy Garner	Ordinary Member
Sarah Harper	Ordinary Member
Leigh Henderson	Ordinary Member
Martin Jackson	Ordinary Member
Simon Jordan	Ordinary Member
Mehrdad Kamali	Ordinary Member
Cheryl ORourke	Ordinary Member
Fiona Payne	Ordinary Member
Steve Savage	Ordinary Member
Nicola Selway	Ordinary Member
ADS Group Limited	Stakeholder Member
Get it Right Initiative – GIRI	Stakeholder Member
Society of Motor Manufacturers and Traders LTD – SMMT	Stakeholder Member
Engineering Council	Stakeholder Member
Institute for Continuous Improvement in Public Service	Stakeholder Member
Institute for Business Ethics	Stakeholder Member
Association of British Certifcation Bodies – ABCB	Stakeholder Member
United Kingdom Accreditation Service - UKAS	Stakeholder Member
British Standards Institute - BSI	Stakeholder Member
BQF	Stakeholder Member
Chartered Trading Standards Institute	Stakeholder Member
Military Aviation Authority - MAA	Stakeholder Member
Ministry of Defense – MOD	Stakeholder Member
Home Offce	Stakeholder Member
The Chartered Institute for IT, BC	Stakeholder Member
Cranfeld University	Stakeholder Member

Trustee’s Annual Report 2024 85

Professional Networks Of�cers

Special Interest Groups (SIG)

Construction SIG	Chair	Steffan Spear
	Vice Chair	David Anderson
	Secretary	David Myers
Defence SIG	Chair	Robert Gibbs
	Secretary	Nicola Abrams
Deming SIG	Chair	Angelique Macrez (March-October)
	Vice Chair	Kevan Leach (until December 2024)
Integrated Management SIG	Chair	Jonathan Bishop
	Vice Chair	Gary Ruffhead (from April 2024)
	Secretary	Oluwafemi Adare
Nuclear SIG	Chair	Richard Hibbert
	Vice Chair	James Brown
	Secretary	Charlotte Louise Orton (from Jan 2024)
	Secretary	Owen Tennant
Pharmaceutical SIG	Chair	David Waddington
	Secretary	Neil Wayman
	Treasurer	Steve Moss
Rail SIG	Chair	Robert Mackay (from May 2024)
	Vice Chair	Alice Sizer (until October 2024)
Health SIG	Chair	Thomas Rose
Sustainability SIG	Chair	Zoi Kontodimou
	Vice Chair	Murugesh Sivasubramanian
Audit SIG	Chair	William Rankin
	Vice Chair	Richard Brett
	Secretary	Doris Cadar
Renewable Energy SIG	Vice Chair	Robert Owen
	Secretary	Paul Robinson
Medical Laboratories SIG	Chair	Dennis Mok

86 Trustee’s Annual Report 2024

Branch Networks

EASTERN REGION	Regional Chair	Barry Avis
Peterborough and Cambridge Branch	Chair	Kevin Newey
South Anglia Branch	Chair	Barry Avis

MIDLANDS REGION	Regional Vice Chair	Tony Brachmanski
	Regional Secretary	Suzanne Hill
Birmingham Branch	Chair	Claire Lewis
	Vice Chair	AmandipSandhu
	Secretary	Matthew Moss
Derby and Nottingham Branch	Chair	Suzanne Hill
	Vice Chair	Grant Nicholson
	Secretary	CraigStillwell
Leicester and Coventry Branch	Chair	SimonJones
	Vice Chair	Christopher Parry
	Secretary	Adrian Stokes
Wolverhampton Branch	Chair	TonyBrachmanski
	Vice Chair	CraigCartwright
	Secretary	Samantha Wright

----- Start of picture text -----
NORTH EAST REGION Regional Chair Leigh Henderson
----- End of picture text -----

NORTH EAST REGION	Regional Chair	Leigh Henderson

Northeast Branch	Chair	Leigh Henderson
	Vice Chair	Colin Humble
	Secretary	John Mills

Trustee’s Annual Report 2024 87

NORTHERN REGION	Regional Chair	-
Cumbria Branch	Chair	Ryan Mower
	Vice Chair	Kyle McNicol
	Secretary	PaulJohnson
Yorkshire Branch	Chair	Katja Danson (from March 2024)
	Secretary	Asimakis Foros

NORTHERN IRELAND	Regional Chair	Michael McCusker
Northern Ireland Branch	Chair	Michael McCusker
	Vice Chair	Gerard Heatley
	Secretary	Siobhan Murphy

SCOTLAND	Regional Chair	Colin Campbell
	Secretary	Jeffrey Marven
North of Scotland Branch	Chair	Colin Campbell
	Vice Chair	Samantha Withers
	Secretary	Abigail Readman
West of Scotland Branch	Chair	Marc Elmes
	Vice Chair	James Burns
	Secretary	JeffreyMarven
East of Scotland Branch	Chair	Gemma Parnell
	Secretary	Victoria Tait

----- Start of picture text -----
SOUTH EAST REGION Regional Chair -
----- End of picture text -----

SOUTH EAST REGION	Regional Chair	-

London Branch	Chair	Jessican Naidoo
	Vice Chair	Adebisi Alonge
Kent Branch	Chair	Roderick Hogarth
Surrey and Sussex Branch	Chair	Luke Higgins
	Secretary	Heather Kane

88 Trustee’s Annual Report 2024

----- Start of picture text -----
SOUTH WEST REGION Regional Chair Angela Fumpson
Regional Vice Chair Derek Lewis
----- End of picture text -----

SOUTH WEST REGION	Regional Chair	Angela Fumpson
	Regional Vice Chair	Derek Lewis

Avon Branch	Chair	Neil O’Doherty (from February2024)
	Vice Chair	Angela Fumpson
	Secretary	Denise Ramsay
Gloucester Branch	Chair	Gary Martin
Wales Branch	Chair	Derek Lewis
	Secretary	Karl Mrosek

OVERSEAS
Hong Kong Branch	Chair	Ian Streeter
	Vince Chair	Wai HangCris Tam
	Secretary	Khar Voen Chin
Caribbean Branch	Chair	Christopher Chinapoo (from August 2024)
	Vice Chair	Roger Herelle(from August 2024)
	Secretary	Sucilla Harrikissoon

Trustee’s Annual Report 2024 89

Corporate Partners

ISS

AWE

Babcock Jacobs BAE Systems JDR Cables Balfour Beatty Kier Transportation BAM Nuttall Kingspan BP Leonardo British America Tobacco Laing O’Rourke Bureau Veritas Macfarlane t/a MCFT Costain MOD Element Materials Network Rail Frontier Certification Nuclear Waste Services Hitachi Rail Nuvia IMSM Oakland Group Innovo QTS

Raytheon Restoration and Renewal Rolls Royce Saab Sellafield Shell Siemens Skanska Spirax Sarco TCO Thales Wabtec

90 Trustee’s Annual Report 2024

Key management personnel

Director General and Chief Executive, Vince Desmond Executive Director of Membership and Commercial Services, Tally Singer Executive Director of Corporate Services, Andrew Lannin

Of�ce address

Third Floor 90 Chancery Lane London WC2A 1EU

Principal professional advisers

Bankers Lloyds Bank Plc 98 Victoria Street London SW1E 5JL

External auditors Buzzacott Audit LLP 130 Wood Street London EC2V 6DL

Solicitors

Russell Cooke 2 Putney Hill London SW15 6AB

Investment managers

Newton Investment Management Ltd BNY Mellon Centre 160 Queen Victoria Street London ECV4 4LA

Trustee’s Annual Report 2024 91

Chartered Quality Institute Third �oor, 90 Chancery Lane Holborn, London WC2A 1EU Incorporated by Royal Charter and registered as charity number 259678 ~~92~~ www.quality.org ~~Trustee’s Annu~~ al Report 2024

2024-12-31-accounts

The Chartered Quality Institute Annual Report 2024

Trustees’ report for the year ended 31 December 2024

Our mission

Our vision

Our values

Our strategy

Strategy overview 2024-2030

CQI President’s foreword

Lord Jamie Lindsay, President, Chartered Quality Institute

Chair’s introduction

Rashad Issa, Chair of the Board of Trustees, Chartered Quality Institute

Strategic plan progress

2024 highlights

Promoting quality management

Growing the quality profession

Developing the CQI

OUR PROGRESS IN 2024

Strategic theme 1: quality management

Advocating with the quality ecosystem

16 million

Advocating through World Quality Week

Advocating for quality in the UK’s industrial strategy

Promoting quality through the International Quality Awards

Emerging Talent Winner 2024: Lilly Caskey

Volunteer of the Year 2024: Chrisopher Chinapoo

Quality Professional of the Year 2024: Judith Ward

Quality Team of the Year 2024: Arden and GEM IT

Digital Innovation Winner 2024: Netcare Ltd

Sustainability Impact Winner 2024: Hayleys Fabric

Quality Organisation 2024: Shell

Outstanding Contribution Winner 2024: ADS SC21

Supporting standards and conformity assessment

SCC expert members SCC CQI staff members CQI ISO 9001 Working Group • John Abson CQP MCQI • Ian Howe - Head • Nina Abbassi CQI FCQI

Quality research

Our future plans

In 2025 we are committed to delivering:

Quality research

Advocacy capability

Strategic theme 2: quality professionals

Professional community

CQI and IRCA (rest of the world) register

New CQI and IRCA applications

IRCA Japan

Corporate partners

Career pathways

A high-level career pathway

�����������������������

Typical Competence Pro�les

Quality Careers Week 2024

Professional development

Quality Live 2024

E-learning courses

CPD events – Branches and Special Interest Groups

Certi�ed training courses

E-assessment numbers and exam languages

Research

Our future plans

In 2025 we are committed to delivering:

Career pathways and Typical Competence Pro�les

Career pathways and certi�ed training

Professional development

Research

Strategic theme 3: the CQI

Digital revitalisation (Project Xcelerate)

Sustainability strategy

Our people

Our future plans

In 2025 we are committed to delivering:

Project Xcelerate

Sustainability strategy

�nancial 2024

summary

Financial performance

Net income surplus before gains and losses

£2.96m £5.1m cash balance unrestricted reserves

Investment policy and performance

Reserves policy

Summary

Risk pro�le

��