Academies Accounts Direction 2019-2020 We look at the key changes in this year’s Academies Accounts Direction, drawing attention to the most impactful adjustments: For accounting periods commencing on or after 1 April 2019, academy trusts that are considered large and meet two or more of the following criteria must provide additional disclosures in the [...]
Spring 2018 governance update Griffin summarise some of the more impactful announcements affecting academies. Multi Academy Trusts paying their CEO more than £150,000 asked to justify the salary Eileen Milner, the Chief Executive of the ESFA, has written to the chairs of all Multi Academy Trusts paying their CEO, or any other staff member [...]
Key changes: Academies Financial Handbook 2017 The Academies Financial Handbook 2017 (AFH) applies from September 2017. We’ve summarised the key changes below. The ESFA have updated the new handbook to give more guidance on the roles of members and trustees. They have also included stronger emphasis on having significant separation between the roles. [...]
Academies Accounts Direction 2017 This year’s Academies Accounts Direction (AAD) was released by the ESFA on 12 June 2017. There are few changes this year, with the only significant one being in relation to church schools where their land & buildings are owned by the Diocese. A full version of the Academies Accounts [...]
Fraud and academy schools Fraud has become a key area of concern for academy schools and the Education Funding Agency (EFA) has recently published a guide to help trusts reduce their exposure (link later in the article). We discuss some of the high profile frauds that have become public as well as [...]
Key changes: Academies Accounts Direction 2016 The majority of changes in this year’s Accounts Direction come about due to the introduction of new accounting standards, specifically FRS 102 and the Charities SORP 2015. These are mainly in relation to disclosures and have very little impact on the main figures themselves. The key differences this [...]
Upcoming Academy deadlines 16 December 2015 Condition Improvement Fund (CIF) applications for 2016/17 31 December 2015 Submission of audited accounts to the EFA 31 January 2016 Submission of Academies Accounts Return 31 January 2016 [...]
The latest version of the Academies Financial Handbook, continues the theme of increased scrutiny towards governance, that has been ongoing for the past few years. This follows on from changes made by Ofsted to place a greater emphasis on governance during inspections. The key changes Clarification that a financial notice to improve can [...]
Academies Accounts Direction 2015 - Now Released! The Academies Accounts Direction 2015 is hot off the press. This year we have the added complication of 2 different versions, following the release of a new Charities SORP. New academy trusts whose date of incorporation falls on or after 1 January 2015 must use the [...]
Summer term academy deadlines 31 May EOYC to be submitted to Teachers Pensions 31 May March accounts return to be submitted to the EFA 31 May Deadline to submit accounts to Companies House 31 July Budget forecast return to be submitted to the EFA Teachers Pensions Due date for filing: 31 May The [...]
