Academy trust financial management good practice guides

Information outlining good practice in academy trust financial management and assurance.
Documents
Streamlined Energy and Carbon Reporting (SECR)
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Operating an academy trust as a going concern
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Choosing an external auditor for an academy trust
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Academy trust deficit recovery
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Academy trust risk management
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Leasing guidance for academy trusts
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Academy trust management accounting
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Internal scrutiny in academy trusts
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Academy trust management letters
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External audit preparation checklist for academy trusts guidance
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External audit preparation checklist
MS Word Document, 39KB
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 Academies Financial Handbook (AFH) 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 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.
Published 1 March 2019
Last updated 18 May 2021 + show all updates
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We have updated the academy trust risk management good practice guide.
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Routine update to the guide to choosing an academy trust auditor.
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We have updated the ‘Operating an academy trust as a going concern’ good practice guide.
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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].
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Added a new good practice guide on Streamlined Energy and Carbon Reporting (SECR)
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We’ve added a new good practice guide – ‘External audit preparation checklist’ and ‘External audit preparation checklist guide’.
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Updated to add a new good practice guide on academy trust management letters.
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Page updated to add a guide to academy trust internal scrutiny.
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First published.
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