Academies

experienced, knowledgeable, specialist

The recent Academies Bill has created the option for schools to convert to Academies. This is an exciting time for all of the educational establishments involved but any change needs to be executed properly in order to be successful. Our team can guide you through the various steps involved in the Academy conversion process and provide specialist audit, accountancy and advisory services.

We are experienced in auditing both schools and charitable trusts and currently perform annual audits, at the request of the Governing Body, for a number of State maintained foundation and voluntary aided schools.  We are therefore familiar with the day-to-day management and strategic issues facing schools in the current climate. 

Our team has considerable knowledge of internal controls systems in place within schools.  We have recently undertaken FMSiS (Financial Management Standard in Schools) assessments for a number of schools in addition to carrying out periodic internal control reviews.  We are able to offer advice on setting up and maintaining appropriate systems of financial controls to reflect the school's changed status. 

We worked closely with the Funding Agency for Schools (the funding body for Grant Maintained Schools) whilst it was operational and are in the process of setting up an effective working relationship with the new Academies' funding body.  Our specialist team acted as auditors to over 30 Grant Maintained (GM) schools in London and the South East and were instrumental in setting up the Funding Agencyfor School's audit forum which met regularly to discuss financial and audit matters affecting GM schools.

We can help Academies with:

Changes to status

• governing body and trustees
• legal status

• land and buildings

Financial considerations

• new financial reporting requirements
• financial statements and audit
• setting up and maintaining financial control systems
• internal controls

We are also able to offer advice and assistance in other areas including VAT and corporation tax, company secretarial services and IT. 

If you would like to discuss our services, please contact Sarah Morrison on 020 7516 2266 or email  smorrison@littlejohnllp.com