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Annual Academies Update 2021

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A free and informative update for all schools and Academies – Headteachers, Accounting officers, Bursars/Business Managers and Governors – especially those on the finance/audit committee.

As Academy specialists we are delighted to be hosting our 10th Academy Update.

This session will be led by Streets’ Academy Partners Robert Anderson, Georgii Gale and Alan Endersby.

The presentations will cover:

The Academies Accounts Direction for 2021 including key changes for financial reporting as we and our academy clients undertake the completion of annual accounts for 31st August 2021.

There will be a particular focus on the key changes including:

  • Trustees’ Report, Finance Review
  • Auditor opinion
  • Staff cost disclosure
  • Funds received from the academy trust’s educational operations
  • Leases
  • Long Term commitments

The new Academy Trust Handbook 2021, more than just a name change - we will cover the key points of interest and specific action to be taken.

The key changes for 2021/22 include:

  • Ensuring parents are included in the governance structure
  • Bringing safeguarding, H&S and estates into the handbook in addition to financial obligations
  • Trusts need to advise their RSC when their senior exec leader is planning to leave and discuss their structure and options
  • The Chair of Finance and Chair of Audit committees should not be the same person
  • Updated guidance on appointment of auditors
  • Re-emphasis on external governance reviews