"OFSTED are due at my workplace the week after next so it's been a bit manic to be honest."
OK, first off don't panic. This is a major issue for the provider but there should be some protection for you as trainees in that it's not your fault that the ITT inspecton came out with a 4.
It really does depend on what the provider has been judged to be a 4 on. For example, in an extreme case, if they have not complied and failed to register you all (highly unlikely) with the GTCE and failed to check all your qualifications/entry requirements it could affect your QTS, but if the issue is more a management and quality assurance issue then it may not affect your QTS but the provider would have to rectify this aspect of their provision before they could run the course next year.
The provider should inform you as soon as possible what the problem is, how it may affect you (or hopefully that it will have no effect on your training this year).
As for your job that is going to be dependent on gaining QTS not whether or not the provider fails an inspection (the analogy of pupils sitting and gaining a GCSE/A level is a good one - if a school is in special measures that does not detratct from the grade a pupil may get and should not affect their ability to enter say a good university with that qualification.
If you are recommended for QTS then you meet the standards and it matters not if you meet QTS at The best or worst provider - QTS standards are not set by individual providers but by the TDA.
If there is doubt about the provider's ability to be able to securely recommend QS then it may require some extra scrutiny by another independent provider who could confirm that the recommendation can be made. But as I say, it really does depend on what the fail is based on.