With the move towards knowledge-driven economies and societies, education has never been more important for the future economic performance and relative economic standing of countries, but also to allow individuals to perform and fully participate in the economy and society (OECD, 2007a). In this context, broad participation in tertiary education is only one side of the coin. The quality of education delivered is equally important to ensure that tertiary graduates are effectively equipped to participate in the new economy and society at large, and that they are prepared to subsequently engage in lifelong learning activities to update their knowledge and skills as the knowledge frontier moves further. As a result, the issue of quality provision has received growing interest from the various stakeholders over the past two decades.