This literature review has been undertaken for the Higher Education Academy (HEA). It explores recent scholarly contributions in the area of assessment and feedback in higher education (HE). As outlined in the HEA's terms of reference for this work, the contents of this review are designed to "help practitioners, policy makers and researchers to focus more effectively on relevant questions, issues or sources of evidence to inform their own research or practice." The review is intended to provide an insight into contemporary scholarly work in this area, and the approaches to searching the literature and compiling this document reflect this aim. The review is comprised of three broad sections: (1) "The fundamentals"--a section that explores the significant principles underpinning best practice in assessment. Drawing on the HEA's Transforming Assessment Framework (2016a), this section expands the reach of these ideas based on areas identified through the literature. Essentially, this section explores the following research question: "What key elements are highlighted in the literature as fundamental to the development of assessment in higher education that is high quality and improves student learning?"; (2) "Practice and innovations"--an exploration of recent literature that demonstrates the kinds of assessment practice currently being undertaken in higher education and links this application to the concepts discussed in the previous section of the review. This section is guided by the research question: "How are the fundamentals of assessment manifested in recent literature on assessment in higher education?" In addressing this question, a number of key areas of literature are explored. The most significant in terms of recent attention in the literature are feedback and peer-review/self-review, and these are described in detail. Topics such as technology, summative assessment, and the use of psychometrics are also explored. The section finishes with a brief outline of other emerging trends in practice identified in the literature; and (3) "Reflections and setting directions"--this section summarises the gaps in current literature identified by the authors, particularly in relation to gaps previously identified in work of the HEA through the A Marked Improvement (HEA 2012) report. The discussion begins with the identified gaps, and then includes reflections on trends in the literature relating to emerging principles and future directions. The report concludes with some suggestions for relevant stakeholders based on the findings of the review.