Guidance

Academy trust financial management good practice guides

Information outlining good practice in academy trust financial management and assurance.

From:
Education and Skills Funding Agency
Published
1 March 2019
Last updated
16 December 2024 — See all updates

Applies to England

Documents

Academy trust management accounting

https://www.gov.uk/government/publications/academy-trust-management-accounting

Managing academy trust reserves

http://www.gov.uk/government/publications/managing-academy-trust-reserves

Streamlined Energy and Carbon Reporting (SECR) for academy trusts

https://www.gov.uk/government/publications/streamlined-energy-and-carbon-reporting-secr-for-academy-trusts

Operating an academy trust as a going concern

HTML

Choosing an external auditor for an academy trust

HTML

External audit procurement key information

ODT, 26.6 KB

This file is in an OpenDocument format

Academy trust risk management

HTML

Leasing guidance for academy trusts

HTML

Internal scrutiny in academy trusts

HTML

Academy trust management letters

HTML

External audit preparation checklist for academy trusts guidance

HTML

External audit preparation checklist

MS Word Document, 39 KB

Tendering 'jargon busting' guide for academy trusts

HTML

Local Government Pension Scheme (LGPS)

HTML

Details

Guides for academy trust:

  • trustees
  • accounting officers
  • principals/executive leaders
  • chief financial officers (CFOs)

These guides do not replace or modify any requirements set out in the Academy Trust Handbook (ATH) and the Academies Accounts Direction (AAD). They aim to provide suggestions about good practice.

ESFA produced these guides with input from experienced practitioners from working group 1 and working group 3 of the Academies Finance and Assurance Steering Group.

You can find more good practice information at the Institute of School Business Leadership (ISBL) good practice library.

Updates to this page

Published 1 March 2019
Last updated 16 December 2024 + show all updates

  1. Removed 'Academy trust deficit recovery' as it is out of date.

  2. Updated 'Managing academy trust reserves' and 'Academy trust management accounting'.

  3. Added a link to the updated 'Streamlined Energy and Carbon Reporting (SECR) for academy trusts'.

  4. Added 'Local Government Pension Scheme (LGPS)'.

  5. The Internal scrutiny in academy trusts guide has been updated.

  6. We've added a good practice guide on academy trust reserves.

  7. We've updated the guidance on Streamlined Energy and Carbon Reporting (SECR) for academy trusts.

  8. We have updated the example in the Streamlined Energy and Carbon Reporting (SECR) for academy trusts guide for 2022 reflecting the new conversion factors.

  9. We have updated the guide to choosing an external auditor for an academy trust.

  10. We have updated the 'Tendering 'jargon busting' guide for academy trusts' with the thresholds for 2022 to 2023.

  11. We have updated this page to add a good practice guide on tendering 'jargon busting' for academy trusts.

  12. We have updated the Streamlined Energy and Carbon Reporting good practice guide with new requirements and calculations for 2021.

  13. We have updated the academy trust risk management good practice guide.

  14. Routine update to the guide to choosing an academy trust auditor.

  15. We have updated the 'Operating an academy trust as a going concern' good practice guide.

  16. We have updated the internal scrutiny good practice guide for academy trusts. The update includes clarification that internal scrutiny covers both financial and non-financial controls [3.1 in the Academies Financial Handbook (AFH)], removal of the option for internal audit to be performed by the external auditor [AFH 3.17 and 3.20] and confirmation that trusts can use additional individuals or organisations to support internal scrutiny where specialist non-financial knowledge is required [AFH 3.18 and 3.23].

  17. Added a new good practice guide on Streamlined Energy and Carbon Reporting (SECR)

  18. We've added a new good practice guide - 'External audit preparation checklist' and 'External audit preparation checklist guide'.

  19. Updated to add a new good practice guide on academy trust management letters.

  20. Page updated to add a guide to academy trust internal scrutiny.

  21. First published.

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