Definition of "BIS"

Until recently, the BIS has not asked colleges to submit audited accounts and demonstrate a financially sustainable business plan. […] What is certain is that the size of the outlay caught BIS off guard and the impact has already been felt by students at established universities.

2014 May 21, Andrew McGettigan, Shiv Malik, John Domokos, “Private sector and students profit at the college they call 'the ATM'”, in The Guardian‎