Measures being sought include:
* all colleges must disclose spending on foreign travel and hospitality annually;
* audit committees must include at least one person with relevant financial expertise;
* all student numbers and specialist audits where there are serious concerns will be carried out by the Further Education Funding Council;
* auditors will report to the FEFC on expenses they consider excessive;
* The FEFC will be able to nominate up to two governors where a college causes concern;
* The FEFC will be able to send observers or assessors to college governors' meetings;
* all governors must undergo training within six months of appointment;
* there will be a new professional qualification for principals;
* principals will no longer be suspended on full pay in disciplinary cases.
Lifelong learning minister Baroness Blackstone said: "David Blunkett and I are determined that the very serious and fundamental weaknesses shown by some colleges must never be repeated."