Auditing Expertise for Academies
Limited (LWA) writes below, there is a huge amount of responsibility in terms of financial, auditing and reporting issues which many Academies find overwhelming. This is why LWA provides specialist advice to the education sector and have the expertise to help with conversion issues such as:
✓ Selection of an accounting package
✓ Creditor payment processes
✓ Staff training
✓ Payroll services
✓ Valuation of transferred assets
✓ Pension issues
✓ Returns to the Education Funding Agency and Department for Education
✓ Dealing with other important financial and accounting requirements to comply with legislation, the Academies Financial Handbook and the terms of the Funding Agreement
As well as the niche accounting and auditing requirements for Academies, other important areas that LWA can help with include:
• Ensuring compliance with the annual Academies Accounts Direction
• Company Secretarial issues such as preparation of annual confirmation statements and the appointment/resignation of the Academy’s officials
• Tax and VAT issues
• Assisting with the preparation of the Finance Manual.
• Cash flows and budget planning
• Grant applications
Steve Collings is recognised as a figure of authority in the profession having published 18books, including one specifically on academies due for publication in the summer of 2016. He is a regular lecturer to professional accountants, as well as advising various professional bodies on accounting matters. Steve is also a member of the UK Technical Advisory Group at the UK’s Financial Reporting Council who maintain UK and Ireland accounting standards, so you can most definitely trust that you’re in good hands.
At LWA we are on hand to answer any questions you may have regarding conversion to Academy status, or general financial queries when it comes to the day-to-day of running an Academy. For a no-obligation opportunity to find out how LWA can help you with a jargon-free and cost-free Academy review, please get in touch with Steve on 0161 905 1801, or firstname.lastname@example.org and simply quote ‘QA LWA Review’ to book your appointment.