The RCVS has published the conclusions of The McKelvey Report, a review into the circumstances leading to a substantial overspend on the College's new database and development works at Belgravia House.

The review was carried out by Professor Bill McKelvey - a member of the College's Governance Review Group - and two of the College's Privy Council-appointed Council members to consider all aspects relating to the College's budgeting and expenditure process, and propose lessons that could be learned.

Whilst the full report has not yet been published, its conclusions highlight:

  • A lack of a credible audit capability, either internal or external.
  • The above despite a recommendation following an investigation into a previous overspend, which Council apparently failed to act upon.
  • Lack of responsibility / accountability for project planning and management.
  • Lack of control over budget, with no spending limits found for Officers or staff.
  • As a consequence of its elected nature, a lack of appropriate skills within Council, particularly for the role of Treasurer.

Overall, the report concluded that:

Weaknesses exist in the governance of the RCVS which pose significant risks to the proper conduct of its business. Executive staff have not been provided with a robust governance framework by the Council, and this has led to a number of unnecessary misunderstandings between Executive staff and Non Executive members of Council. These matters should be urgently addressed by Council in order to ensure that the confidence of ordinary members of the profession in their College can be restored.

Dr Jerry Davies, RCVS President said: "That such a review was required is regretted, but I would like to thank Professor McKelvey, Richard Davis and Judith Webb for their diligence in this work. Their recommendations will be a very helpful addition to the work that is currently underway to ensure corporate governance is fit for purpose and, in particular, that the management of capital projects within the College is optimised."

The full report is available here.

PS: Whilst you're here, take a moment to see our latest job opportunities for vets.