Resources drawn upon include:
The Accounts Direction, which outlines the requirements for each academy trust to:
- prepare an annual report and financial statements to 31 August
- have these accounts audited annually by independent registered auditors
- produce a statement of regularity, propriety and compliance and obtain a regularity assurance report on this statement from the auditor
- submit the audited accounts and auditor’s regularity assurance report to EFA by 31 December
- file the accounts with the Companies Registrar as required under the Companies Act 2006
- publish the audited accounts on the trust’s website by 31 January
The Academies Financial Handbook 2016
3.1.20 Trusts must publish on their websites relevant business and pecuniary interests of members, trustees, local governors and accounting officers. Trusts have discretion over the publication of the interests of any other individual named on the register. The Charity Commission offers guidance on managing potential conflicts of interest in: CC29: Conflicts of interest: a guide for charity trustees.
Statutory policies for schools
The register of business interests section applies to Maintained Schools.
Governors are required to publish a register of interests - and in LA schools from Sep 2015
“Gillian Allcroft, policy manager at the National Governors’ Association, added: “NGA takes the issue of conflicts of interest seriously and subscribes to the Nolan principles of public life. Governing boards’ decisions need to not just to be open and honest but to be perceived as such.”
- Accounting for academies
- Some terms explained: Governors vs trustees, what's the difference?