A requirement of the Academy Trust is that all academies undertake an internal scrutiny process at least annually, which provides independent assurance to the board that its financial and other controls, and risk management procedures, are operating effectively. The work focuses on:
- Evaluating the suitability of, and level of compliance with, financial and other controls. This includes both evaluating whether controls and procedures are effective and efficient, and checking transactions to confirm that controls and procedures are being followed.
- Advice and insight to the Board on how to address weaknesses in financial and other controls, recommending improvement, but without diluting the responsibility of management for the day to day running of the Academy.
- Ensuring risks are adequately identified, reported and managed.
My reports are compliant with the AFH requirement for academies to submit an annual report, summarising the areas reviewed, key findings, recommendations and conclusions to the ESFA by 31 December each year.