FAB Celebrates a Record Breaking Year

Annual General Meeting (AGM) gathers to approve new non-executive director appointments and financial statements.

Members of the Federation of Awarding Bodies met today as part the annual review of progress, including the formal ratification of elections, for vacant governance positions.

FAB is a non-profit, independent member-led, private company, limited by guarantee.

The Federation’s Board of Directors reported back on the organisation’s record breaking performance, during a year in which FAB also celebrated its 20^th anniversary since incorporation.

The Annual Directors’ Report 2021-22 shows:

• A record number of AO/EPAOs in full membership, 174 as of 31 July 2022, representing more than 60 per cent of the UK’s regulated qualifications market by volume.
• Turnover increased from £553K in July 2021, to £850K at year end – an increase of 54 per cent. The surplus for the year of £37k up from £3.7k in the previous financial year.
• A successful roll-out of the organisation’s commercial strategy.
• A record profit of £64K on the annual conferences held in 2021.
• Increased online/ physical engagement and consistently good/excellent feedback scoring above 90 per cent satisfaction ratings for members in attendance at our various events and training courses. 
• Website traffic has generally increased by a quarter (26 per cent) during the financial year, with the take up of our Google ranked number 1 specialist jobs board for the industry, doubling in the past 12 months.
• FAB has responded to 11 major policy and regulators’ consultations in the past year – an average of one major consultation every four weeks. 
• FAB was winner of the Trade Association Forum, ‘Digital Innovation of the Year Award 2022’ in February 2022; for our pioneering work with Skills World Live Productions.
• FAB has been shortlisted by the Trade Association Forum for two awards in 2023: Trade Association of the Year and Good Governance of the Year (results announced on 23 February).

Commenting on the report, Tom Bewick, FAB chief executive, said:

“It’s great that after the difficult years of the pandemic we have been able to bounce back like this. We are very fortunate to have a highly engaged member-led Board and a dedicated staff team, who never fails to commit to service excellence; and push the parameters of innovation in terms of the member services that we provide.

“This includes punching well above our weight in the policy influencing sphere, where we have ensured that both policymakers and regulators fully understand our members’ views.

“In the year ahead, we will continue to roll out our agreed strategy, including our flagship industry conference being hosted at Silverstone on 8/9 November 2023, for the first time; and the launch on 1 February of our new Awarding & Assessment Academy offer. This will demonstrate a relentless focus and commitment to supporting the sector’s continuing professional development; as well as boosting inclusion and diversity in the career options available to under-represented groups.”

The AGM ratified the results of recent Board elections, receiving the following report:

• Olivia Bussey, non-executive director, (resigned June 2022)
• Vida Stewart, non-executive director, (resigned January 2023)
• Simon James (re-elected for a second term as treasurer, unopposed)
• Amanda Boustred (elected as non-executive director)
• Tim Bennett-Hart (elected as non-executive director)         

Commenting at the AGM, FAB Co-chairs, Kirstie Donnelly MBE and Alan Woods OBE, said:

“We’re delighted with the performance of FAB since we took up our positions around the Board as Co-chairs in January 2021. The excellent results set out in the latest Directors’ report speak for themselves.

“Of course, it’s a whole team effort and we’d like to thank all our members, subscribers, commercial partners and congratulate everyone involved.

“Our commitment is to continue to focus on the things that matter to our regulated members: strong policy representation and service excellence.

“We’d also like to thank our outgoing non-exec directors for the excellent contribution they made in service to the Board/Membership; as well as welcome Amanda and Tim to their new positions as non-execs, as we look to continue to support our chief exec, Tom Bewick, and his team, in delivering on some really exciting plans.”