We support the governing body by providing an independent assurance opinion on the school’s financial affairs. This includes:
- consideration of whether the financial affairs of the governing body are being discharged
- consideration of the effectiveness of business processes and operational activities to help achieve value for money and best use of resources
- consideration of the overall effectiveness of financial management arrangements including;
- income and debt collection
- expenditure (ordering, creditor payments, payroll and petty cash)
- voluntary funds (management / reporting arrangements)
- administration arrangements for meals provided
- asset management
- budgetary control and financial reporting
Duration of SLA
Five year rollover.
Option to spread costs over a five year period or incur as a ‘one off’ charge in the year that the audit review is undertaken.
Period of notice
Three months.
A charge equivalent to the proportion of completed / part completed months will be applied on termination of the SLA. For those schools where the cost is spread and who have not received their audit visit at the time the notice is provided, this will equate to the proportion of the annual charge whereas for schools that requested a ‘one off’ charge, this will be calculated as a proportion of the cumulative number of months completed over the five year period. For those schools that have already received their audit visit, the balance of any charges due in relation to the SLA will be recovered.