Neil Garrett

The EFA provide Academy Trusts with the Financial Handbook for Financial Management and Governance Self-assessment (FMGS). The Handbook outlines the minimum requirements and standards that must be applied within the Academy. The EFA follow on by saying “It expects trusts to look beyond these minimum requirements” and that the DFE require “value for money” not only for the DFE but also for the Taxpayer. Under the Charities Act 2011 the charity Trustees must prove ‘they have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.’ (Charities (Accounts and Reports) Regulations 2008) There are a significant number of statutory controls that all academies must implement and many trusts are struggling to find simple ways to achieve this legal duty without creating unnecessary operational burden. Industry best practice requires you to have a clear view of governance across your organisation, highlighting areas at risk and maintaining action plans for the effort required to remedy any shortfall. So how does your organisation match up? Do you have a system in place that offers a complete overview of your Risk and Compliance efforts? Are your business managers conversant with the statutory controls, and aware of the levels of risk within your academies? As a MAT can you pin point the high areas of risk across your whole organisation? For a little as £10.00 per month you can have a state of the art integrated Governance, Risk and Compliance system within your Trust, providing evidence to the DFE, your auditors, your parents and your staff that you take your governance, risk and compliance responsibilities seriously. For an online demonstration or to register for a free trial, please email [email protected] or visit