The AFH sets out the requirements that academy trusts must comply with as a condition of their funding agreement. The 2020 handbook is effective from 1 September 2020.
The changes from the 2019 handbook focus on internal scrutiny. The ESFA are looking to see improvements in this area and expect to see trusts with internal scrutiny processes more in-line with further education entities.
Below is an overview of the changes:
The ESFA continues to push for high standards of financial management and governance, leading to increases in work for finance and audit committees. In particular, the changes to internal scrutiny present a change of focus and to the standard expected.
If you wish to discuss this or have any queries or concerns, please get in touch with your usual Duncan & Toplis contact. Alternatively, contact our team here.
Looking for advice and guidance on support for the impact of coronavirus for your academy? Take a look at our article Coronavirus and schools: Advice for academies