Auditing Academies – Sector Experience

By April 5, 2018Blog

Our auditing services are led by senior team members with deep sector expertise of Academies, along with the benefit of a structured fixed fee providing you with certainty over your compliance costs.

Our team members have significant experience working with newly-converted and long-standing Academies. We support our Academy clients all year round assisting them to fulfil all of their compliance obligations around financial, accounting and regulatory matters.

We deliver our work throughout the course of the year to ensure that financial transactions are undertaken properly in real time, thereby minimising the risk of issues arising during the year end audit process.

  • For Governors and Accounting Officers we help provide comfort that policies, processes and controls are fit for purpose.
  • For Academy Management we provide practical advice on implementation of these processes as well as assistance with day-to-day compliance obligations.

Our team members have all worked in the sector for several years, have an empathy with the sector and are required to undertake ongoing Academy audit accreditation training to ensure that the quality of our work is assured.

We understand the increasing budgetary pressures that Academies face. All our audit and related compliance services are provided on a fixed fee basis.  This means that we do not seek overruns if the work takes longer than expected and you have certainty over your annual compliance fee. We encourage an open dialogue with our clients focussed on deliverables and meeting ESFA timetables and not on our fee recoveries. To promote this we include ad hoc phone calls or meetings within the fixed compliance fee – as many as you need during the course of the year.

What we can help you with:

  • Annual statutory audit of the financial statements and regulatory audit
  • Assistance with preparation of the financial statements
  • Conversion assistance – eg advice on set up of policies, nominal ledger structure, opening balance sheet
  • Internal scrutiny – extended controls and process training
  • Corporation Tax and VAT advice in relation to any trading activities
  • Other regulatory requirements – eg teachers’ pension audits, grant claims

If you have any questions about how we can help you please contact Steve Williams – +447964 078845 / steve.williams@murrayharcourt.com