Last reviewed on 22 April 2021
School types: All · School phases: All
Ref: 42439

Your academy trust must establish a control framework that includes:

  • Ensuring that delegated financial authorities are complied with, and segregation of duties maintained
  • Co-ordinating the planning and budgeting processes
  • Applying discipline in financial management, including managing debtors, creditors, cash flow and monthly bank reconciliations
  • Planning and oversight of any capital projects
  • The management and oversight of assets
  • Ensuring propriety, regularity and value for money
  • Reducing the risk of fraud and theft
  • Independent checking of financial controls, systems, transactions and risks
  • Maintaining a fixed asset register