The Accounts Direction and model set of accounts have the same status, and Academy Trusts must comply with both documents. Previously the model accounts were included within the Accounts Direction.
A third document aimed at auditors and reporting accountants has also been published, which Academy Trusts may also wish to read for information.
ESFA have confirmed that they intend to publish a supplementary bulletin to the Accounts Direction later in the year to separately cover the reporting of COVID-19 related matters.
ESFA have also confirmed 2021 submission deadlines of 31 December 2021 for Academy Trust financial statements, and 25 January 2022 for the Academies Accounts Return.