Academies

More and more schools are choosing, or are required, to convert to academy status and there are already thousands of academies now in existence.

With academy status comes additional freedoms to set staff pay and conditions, amend the curriculum and find suitable suppliers, but it also brings with it additional responsibilities not typically faced by a local authority maintained school.

This includes preparing annual accounts and financial statements that comply with the Companies Act, Education Funding Agency rules and the Charities Statement of Recommended Practice (SORP).

Academies must also appoint a responsible officer or agent to monitor, check and report to governors on internal financial management processes and controls.

At TWP our team of dedicated academy specialist understand the needs of academies and school and have the knowledge to support schools through the transition process and with their ongoing requirements and responsibilities following conversion.

We can provide specialist assistance with:

  • Structure and MATs
  • Conversion
  • Growing your MAT
  • VAT, Tax and Payroll/HR
  • Due Diligence
  • Internal Scrutiny
  • Forensic and Fraud Investigations
  • Financial Notice to Improve Assistance
  • Financial Statements
  • Audit (Financial & Regulatory)
  • Systems and Controls
  • Teachers Pension Scheme Audit
  • August Annual Return
  • Training of Business Managers/ Accounts Teams
  • Internal Controls Review.

To find out more download our TWP Accounting services for Academies brochure.

Whatever your school’s requirements, TWP has the expertise you need. Just call 01932 704700 or email service@twpaccounting.co.uk for more information.