The Education and Skills Funding Agency (ESFA) has recently made various announcements that will impact on the financial rules that govern academy trusts.
Academy trusts are facing a busy period in advance of submitting accounts to the ESFA by the 31st December and the new rules, some of which came into force on the 1st September, need to be implemented now to ensure they are compliant.
Chris Beaumont, Partner, has drafted a newsletter that outlines how these changes may affect academy trusts. It also provides some clarity around the new guidance and what actions are needed to ensure compliance.
Download the newsletter here: Academy Newsletter – October 2019
Please feel free to share this with your Trustees, Directors and Governors.
Clive Owen LLP is one of the country’s leading advisers to academy trusts on accounting, audit and taxation matters. We have been advising academies for over 12 years and currently audit 60 academy trusts across the North East and Yorkshire. Whilst Clive Owen is an independent practice, we are part of the Kreston network that advises over 10% of all academy trusts in England.
See more about what we do in the education sector here https://www.cliveowen.com/sectors/education-accountancy/
Each year the Kreston firms collate the information they hold on academies to enable a detailed Kreston Academies Benchmark Report to be produced. We are pleased to say that Chris Beaumont, partner, is one of the lead authors of this report.
The Education and Skills Funding Agency (ESFA)
The ESFA brings together the former responsibilities of the Education Funding Agency (EFA) and Skills Funding Agency (SFA) to create a single agency accountable for funding, education and skills for children, young people and adults.
ESFA is an executive agency, sponsored by the Department for Education.
Read more about what the ESFA does: https://www.gov.uk/government/organisations/education-and-skills-funding-agency/about
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