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You are here: Home / Finance and payroll / Finance / Audit and risk management / Governance and financial management

Governance and financial management

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.

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03000 269 665

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We understand the critical role schools, academies and other public sector organisations have in the fight against COVID 19. As a result of national guidance, many of our staff are working from home but are available to support customers via telephone, conferencing, portal or email. We may have to reduce support in some non-essential areas, therefore, if you are unable to contact us through your normal communication channels, you can contact us through our Customer Services Helpdesk on 03000 26 0000 or by email commercialservices@durham.gov.uk
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