Page 124 - 2020 CXC Annual Report

CARIBBEAN EXAMINATIONS COUNCIL ANNUAL REPORT 2020

Financials

Financial Stability

Corporate Services Business Development
The Corporate Services division is responsible for support CXC® Royalties
services within the Council’s operations, namely, human Hodder
resources management; finance and office management An endorsement and Licensing Agreement was signed
including records and archive services; information technology between Hodder & Stoughton Limited (Hodder) and CXC®
services; business development, legal and other corporate in April 2020 in which Hodder pays royalties with respect to
services. the licence of rights associated with sales of copies for works
published and titled “A World of Poetry: Third Edition” and
The strategic repositioning and realignment of the Corporate “A World of Prose: Third Edition”. CXC® and Hodder will also
Services division is crucial to the sustainable operation of the explore other potential areas where co-operation would be of
core business of the Council and the efficient delivery of our mutual benefit.
products and services. Accordingly, the division’s focus is on
providing innovative and technologically advanced solutions CXC® MOUs
to facilitate an enhanced stakeholder experience through Association of Chartered Certified Accountants (ACCA)
investment in the right people, consistent use of technology and A Memorandum of Understanding was signed between the
adherence to quality standards and regulatory requirements. Association of Chartered Certified Accountants (ACCA) and
CXC® on 23 September 2020 for a term of three (3) years
Corporate Management in which ACCA and CXC® will collaborate to benefit learners
The implementation of the strategic plan is critical for the across a range of CXC® countries. Areas of collaboration
organisation to achieve its strategic goals. The effective include syllabus and examination development, CSEC® and
monitoring, updating of governance documents and reporting CAPE® Accounting awards for top performers as well as a
of this plan aided in ensuring that the organisation operates CAPE® internship programme. CXC® and ACCA will also
within the Agreement establishing the Council, especially as explore other potential areas where co-operation would be of
processes change with the introduction of more automated mutual benefit.
systems.
CXC® Learning Hub Contract
BookFusion
An agreement was signed between BookFusion Limited
and CXC® on 30 March 2020 in which BookFusion appoints
CXC® as an authorised representative on a non-exclusive
basis for the sale and distribution of Authored Works. Areas
of collaboration include BookFusion working with CXC® to
promote the availability of the Authored Works, providing
access to digital library content resources for sale through the
BookFusion Platform’s online store to enable CXC® to access
tools to create and distribute enhanced and interactive content
securely to End Users.

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