Hobsons have years of experience in dealing with the education and charitable sector and currently act for a number of schools and charities providing audit, accounting, payroll and advisory services.
Internal Audit for Academies
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. Our role as Internal Auditors would be to provide assurance to Principal, Governors and Audit Committee that all the key risks are being managed effectively.
The Financial Handbook 2019 gives greater focus to internal scrutiny including reports being required to be submitted to ESFA from December 2020 covering the year ended 31 August 2020.
The trust must deliver internal scrutiny in the way most appropriate to it circumstances. This must be carried out by someone suitably qualified and/or experienced. Options include:
- Employing an in-house internal auditor
- A bought-in internal audit service
- The appointment of a non-employed trustee
- A peer review by the chief financial officer, or other member of the finance team, from another academy trust. The trust should satisfy itself that the trust supplying the reviewer has a good standard of financial management and governance and should minute the basis for its decision.
Objectives of Our Service:
- Support and guidance for the Audit Committee.
- Support and review of the academy's risk management arrangements.
- Support to the Accounting Officer to ensure compliance to the Academies Financial Handbook.
- Risk based internal audit coverage over a period (annual to triennial) to meet your academy's needs.
These Services will give you access to:
- Reviews undertaken by independent/professional experienced staff that have a good understanding of schools.
- Reviews carried out using a risk-based approach.
- High quality reports with practical recommendations made to improve controls and governance where necessary.
- Follow up on agreed actions to give assurance to Governors that action has been taken.
For further information and advice please email firstname.lastname@example.org or contact Jim Scully or Steven Newman.
"Our school has been working with Hobsons since September 2000 and they carry out a range of audits for us, including:
- Annual ESFA audit
- Teachers pension scheme audit
- School Private and Partnership accounts audit
Hobsons ensure that we abide by the Academies Financial Handbook to guarantee that the Public Funds we receive are used correctly and for the correct purpose.
We constantly receive accounting and financial updates on matters which affect our school to ensure that we continue to meet our legal obligations.
I joined the school in September 2016 and have found Hobsons extremely supportive and knowledgeable during this time. On a personal note I have found their support invaluable.
As an accounting and auditing company I would recommend them unreservedly."
Mrs A Finch
Director of Business & Finance
St Mary's Catholic High School
"The Fernwood School has used Hobson’s for its Internal Audit function since 2011, Hobsons audits are thorough, timely and concise. They always provide a professional service with a fair and accurate report."
The Fernwood School