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Academies Accounts Returns | |
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The online form for the Academies Accounts Return is now live. The deadline to submit the form is 25th January 2022. The GOV.UK website includes links to guidance documentation and also tutorial videos. | | | |
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ESFA Assurance work 2020 to 2021 | |
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The ESFA has recently published a briefing note on its key assurance findings from the 2020/2021 year, including the review of annual accounts and other returns to the ESFA. - 97% of accounts were received by the 31st January deadline – a good result for both academies and their auditors after the disruption of Covid-19.
- Less than 1% of academies had qualified audit reports. Of reports including an ‘emphasis of matter paragraph, the majority of these related to going concern issues
- The percentage of modified regularity reports (the second report signed by the auditors as reporting accountants and included in the annual accounts) was 8.5%, an increase from 7.1% in the previous year. Only 15% of these qualifications related to the pandemic, of which a significant number related to the lack of internal assurance reviews.
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If you would like to arrange a virtual meeting to discuss your specific circumstances in relation to any of the above, please get in touch with your usual contact within James Cowper Kreston or contact me using the details below.
Kind regards
Mike Farwell | Partner
Tel: +44 (0)1635 35255 | E: MFarwell@jamescowper.co.uk
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case. | | | |
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