Academy schools
Hundreds of schools are already operating as academies. Hundreds more are seeking academy status and the direct funding from government that comes with it.
The Academies Act 2010 status offers schools greater flexibility in the way they operate, including the ability to set pay and conditions for staff, new freedoms around the delivery of the curriculum and control over the length of terms and school days.
But becoming independent of your local authority brings with it challenging new responsibilities, including preparing annual accounts and financial statements that comply with both the Companies Act and the Charities Statement of Recommended Practice (SORP) and a yearly audit of the accounts and financial statements.
Academies must also appoint a responsible officer to monitor, check and report to governors on internal financial management processes and controls.
So for schools considering conversion to academy status, in the process of conversion or already operating as an academy, it makes sense to work with experienced financial professionals, who can provide the comprehensive guidance and services you need to help you maximise the benefits and freedoms the status brings.
That’s what you’ll find at HB&O.
HB&O services for academy schools: what we do
Accounts preparation: our specialists will work closely and efficiently with your in-house team and your external auditors to ensure that annual accounts and financial statements for the year to 31 August are prepared and the audited accounts filed by 31 December.
Audits: our expert auditors will prepare your accounts to ensure compliance with the Companies Act and Charities SORP, advising on the quality of your accounting systems as an integral part of the process.
Responsible officer: our qualified and experienced risk assurance department will work alongside your financial team, either during transition to academy status or on an ongoing basis, to ensure your financial systems are robust and compliant.
Additional services: we provide a wide range of cost-effective, outsourced support services, including bookkeeping and payroll.
To find out more about services for academy schools from HB&O Chartered Accountants and Financial Advisers, please contact Mark Ashfield on 01926 422 292 or at mark.ashfield@hboltd.co.uk
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