Academy Accountants Norwich
The number of academies and multi-academy trusts (MAT's) in the UK is growing as more and more state schools are converting to academy status, or joining MAT's.
Academies have greater freedom in managing the staffing and running of the school. Direct receipt of funding from the Education Finding Agency gives some more autonomy on how the money is spent. However, the academy has to procure services previously provided by the local authority and comply with requirements for application of funds, governance and reporting.
Schools converting to academy statusIf you are going through the process of converting to academy status, or joining an MAT, we can help:
- assess whether conversion to an academy is a viable option. We can advise on the financial differences, conduct due diligence on transferred balances and detail reporting requirements.
- design appropriate systems and controls to meet the requirements of the funding agreement. We work with you to select the most appropriate accounts software to meet statutory and government financial reporting needs as well as internal management reporting needs.
- advise on accounting issues relating to property and leases; employment law, TUPE and pension arrangements; payroll and human resources; VAT and other taxation, and general governance.
- due diligence work for MAT's and joining schools
- strategic advice to management and trustees
- advice on financial staff team requirements and central accounting in MAT's
