CIPFA launches best practice initiative for academy finance

9 Oct 14

CIPFA has launched a one-stop-shop for finance professionals and accountable officers working in academies to access best practice and guidance to help them manage public resources.

CIPFA has launched a one-stop-shop for finance professionals and accountable officers working in academies to access best practice and guidance to help them manage public resources.

The Academies Hub will give those working in academies finance the support they need so they are equipped with the necessary skills and expertise.

Giles Orr, CIPFA’s lead on the Academies Hub, said today that the rapid expansion of academies meant there was a growing focus on the good governance and financial stewardship of these institutions.

‘Therefore CIPFA is determined to make its support available to the widest possible number of academies and schools through this new Academies Hub. ‘Supporting governors, head teachers and finance staff in their work is vital in ensuring that local schools remain well-managed and financially viable,’

The information provided by the hub will help ensure that both schools and multi-academy trusts are financially accountable and sustainable and delivering excellence in governance and financial management. This will help minimise fraud and financial negligence and ensure proper use of public funds.

The formation of the hub follows concerns raised by MPs and the National Audit Office about the governance and funding of academy schools.

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