In most countries, publicly funded schools are held accountable to one inspectorate and are judged against agreed national standards. Many inspectorates of education have recently moved towards more proportional risk-based inspection models, targeting high-risk schools for visits, while schools with satisfactory student attainment levels are excluded from inspections. This paper looks into these newer inspection models and aims to enhance our understanding of the potential effectiveness of such targeted models on student attainment and other performance indicators. Random effects models, analyzing changes in schools over time, indicate that targeted inspections particularly have an effect on student attainment in literacy in weak schools, while also impacting on student satisfaction, student numbers and student-staff ratios.