Academy Schools require annual external audit services in accordance with the Charities Act 1993, the Academies Act 2010 and the Companies Act 2006. We appreciate the needs of an Academy school are bespoke to the school and the sector. Dains provide a full service offering to include non-audit and audit support services pre-conversion and beyond. All staff working in the Dains Education Team receive specialist training and regular sector updates to ensure their skill and knowledge are relevant and appropriate for working with Academies.Our team is fully conversant with the Academies Financial Handbook which forms the framework for financial management of new Academies.

Our advice goes beyond external audit and we are also able to advise on the following areas;

• Strategy review
• Income recognition
• Training for trustees
• Risk management review
• VAT
• Financial structure review
• Accounting and payroll support
• Audit of public funds
• Operational structure
• Governance
• Fraud investigations

For schools converting to Academy status we can work alongside the YPLA, the Governors, the management of the school and your DfE project leader to provide support pre, post and during conversion including;

Training & Support for your financial function
Moving to Academy status inevitably requires an element of training and ongoing support. Dains is able to provide both face to face and telephone support as required. We are able to provide interim support, reducing over time as your team builds in confidence in the new reporting requirements.We are also able to provide company secretarial services for a nominal fee, or provide full training as required.

Support for the Responsible Officer
The role of the Responsible Officer (“RO”) is to provide an independent oversight for the Governing Body of the Academy’s financial affairs. We can provide assistance in providing training for the finance team to ensure compliance with the systems and controls required under Academy status, as well as completing a periodic review of financial systems and procedures. We are able to report to the RO and/or the Trustees together with relevant recommendations and assist in the design of an appropriate program of tests.

Support in adopting new accounting software
We are able to review the options open to you and help to decide on whether the Academy adopts new software or continues to work with legacy software, upgraded for Academy status. Following installation we can help to establish your chart of accounts, reporting and assist in the transfer of opening balances.

For more information or for a free initial consultation please contact your local office or email: audit@dains.com