Accounting For Academy Schools
Whether you are just starting out on the academy conversion process, or have already converted and are considering a change of accountants please give us a call. We would welcome the opportunity to discuss your requirements, either over the telephone or at a free consultation, and to provide you with a competitive quote.
If you would like to do some more research before making an appointment, please see the links on the right for some guidance on the issues you will need to consider, and some of the ways in which we can help.
Our Academy Schools specialists:
David Sutton, Managing Partner
As partner with overall responsibility for Academy School Audits, David can advise on all accounting & audit issues relevant to Academies and some of the legal issues too; for example, the conversion process, devising and implementing internal controls, accounts packages and formats, management structures and reporting requirements.
Carrie Jensen, Academy Schools Specialist
Carrie is the firm’s Technical and Compliance expert for Academy Schools. Her work entails all of the following and more:
- Advising on conversion issues, such as academy structure and governance, and helping schools to plan the process
- Planning, supervising and completing the annual statutory audit (to include reporting to the Governors or Finance Committee meeting and taking questions)
- Completing internal reviews (ie, assessing financial processes and procedures and advising on same, especially in terms of segregation of duty and evidencing authorisation wherever possible to promote transparency)
- Writing and maintaining academy website content, blogs and newsletters, to help keep our clients fully informed of latest developments
- Helping clients complete budgets and cash flow forecasts
- Keeping the partners and managers updated on new developments in the Education sector
- Mentoring & supervising other members of staff
Academy School services provided by SMH
SMH can advise you in detail on all the issues discussed above, and our range of Academy services also includes:
- Annual accounts preparation, including advice and guidance on interpretation to the Trustees
- Statutory Audit
- Guidance on establishing appropriate financial management and reporting procedures for your Academy, including control systems, internal audit and risk management procedures
- Supplementary specialist audits – e.g. for pensions schemes
- Assistance with implementation and monitoring your budgeting and financial forecasting system
- Advising you on suitable accounting software options
- Tax planning advice and assistance with compliance issues (all taxes)
- Investment and pension advice
- Technical support for the Chief Financial and Accounting officers
We offer a Partner led approach, supported by specialist Academy experts.
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- Entrepreneurs Relief
- Restarting a non-trading or dormant company
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- Auto Enrolment Becomes Business as Usual
- VAT on Residential Property Projects
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