 The Higher Education Funding Council for Wales (HEFCW) was established in May 1992 under the Further and Higher Education Act 1992.HEFCW's responsibilities for initial teacher training (ITT), including the accreditation of ITT providers, are covered under the Education (School Teachers' Qualifications) (Wales) Regulations 2004 and the Education Act 2005.As a Welsh Government Sponsored Body, HEFCW receives its funds from, and is accountable to, the Welsh Government.