The Handbook continues to list the ‘musts’ (now in Part 8) and now more clearly sets out further guidance available to Academy Trusts in greyed out boxes throughout.
The checklist below is intended to summarise the key changes and to help you comply with the new obligations which it contains.
There has been much conversation within the education sector over the last 12 months or so about the role of the Clerk or ‘governance professional’. The theme that the Clerk is an essential part of a board’s toolkit is now emphasised in the Handbook.
The Handbook now sets out what the format of management accounts must include.
This section has been expanded and clarification added.
The Handbook continues to contain a reference to HM Treasury’s Review of the Tax Arrangements of Public Sector Appointees, but now sets out that this explains that senior managers with significant financial responsibilities should be exclusively on payroll with income tax and NI contributions being deducted at source.
Your Academy Trust must maintain a risk register.
For some time, Academy Trusts have been required to have whistleblowing procedures in place but the Handbook now expands on this obligation.
Trustees must ensure that all staff are aware of the whistleblowing procedures. To help you meet this requirement, we have available through our My OnStream system a whistleblowing e-learning module which enables Academy Trusts to provide staff with their whistleblowing policy, track all staff have read this and embed their understanding of their roles and responsibilities.
The Handbook sets out several musts for your Audit Committee (or other Committee with an audit function).
Does your committee:
Your programme of internal scrutiny must focus on:
A short annual summary report must be submitted to the Committee for each year ended 31 August by the person or organisation carrying out the programme of works outlining the areas reviewed, key findings, recommendations and conclusions. This must be submitted to the ESFA with the audited accounts by 31 December each year.
If you would like to receive information on how we can support your trust with its corporate governance requirements, please contact Jaime Hobday on 0121 227 3703, or complete the form below.
For more information about how we can support your Trust with its whistleblowing requirements, please contact My OnStream Support on 0117 314 5222.