The internal audit is a necessary process required by the Academies Financial Handbook 2016 (para 2.4.9) as part of the risk and financial control review.
The Education and Skills Funding Agency published the 'Academies Financial Handbook 2019', making one key change, the requirement for academies to have a robust internal audit:
3.1 All academy trusts MUST have a programme of internal scrutiny to provide independent assurance to the board that its financial and others controls, and risk management procedures, are operating effectively.
In 2020 the Education and Skills Funding Agency published the 'Academies Financial Handbook 2020', with one essential change to the internal audit process.
3.20 Your external auditors can no longer provide your internal audit services (Page 31).
Essentially this change is focused on the COVID-19 pandemic and that services need to be provided remotely.
Redrambler has developed a professional approach to internal auditing, something we continue to develop and improve and we are delighted that this requirement recognises the value we place on this with the Schools and Academies we work with.
Using our specially developed 'Internal Audit Framework Plan' which contains over 100 points of assessment, we will deliver a detailed view of how your Academy or School is currently performing.
Our School and Academy internal audit service normally involves three visits, after each visit you will be provided with a comprehensive report complete with recommendations. Unlike other external auditors our experienced consultants all have backgrounds in education and specifically in school management, including audits. This unique understanding means that any recommendations made will be presented in way that staff and Governors can understand and implement.
In alignment with the 'Academies Financial Handbook 2020', Redrambler have been successfully delivering our Internal Audit service since late spring.
Our fees are competitive and are quoted during the proposal process.
For further information and a proposal please contact us