Academies Accounts Direction

There are very few changes to the previous year’s direction, these include:

• Clarification of expectations for interim arrangements in the absence of key signatories
• Enhanced content regarding the coverage of school buildings’ safety risk in the Trustees’ report, value for money statement and statement of regularity, propriety and compliance
• Updated guidance on the treatment of loans
• Reminder of the need to separately disclose material income streams
• Clarification that teaching assistants are categorised as support staff in the staff costs note

There is also clarification of how the direction should be used by Trustees, and some feedback on non-compliance themes arising from ESFA’s assurance work.