• Academy trusts to face tougher financial checks

    Academy trusts can expect tougher checks on their finances as auditors sharpen up following high-profile auditing scandals – and cash-strapped chains can no longer rely on government bail-outs. Government guidance published last week said trustees and finance staff would face “more detailed questioning” from auditors assessing whether their trusts have enough cash to continue. The…

    5.00 Nov. 9th, 2020 | News

  • 23 trusts submitted financial returns late

    The government has named and shamed 23 academy trusts that were late in submitting financial returns in the last academic year. Trusts were supposed to have their land and buildings collection tool sent off by November 4 last year, and financial statements were supposed to follow on December 31, with accounts returns due on January…

    10.02 Sep. 29th, 2020 | News

  • ‘Systematic failure’ lifts academy trust’s deficit to £2.4m

    An academy trust in charge of schools for excluded and vulnerable pupils unknowingly racked up a £2.4 million deficit because of a “systematic” failure in its financial systems. Annual accounts for 2017-18, published last week, have revealed the full extent of financial mismanagement at the TBAP Multi-Academy Trust. Leaders at the trust, which runs 11…

    5.00 Feb. 8th, 2019 | News