Academies - Scope and purpose
The Academies Audit System provides everything you need to audit the accounts of an academy.
The system contains:
- an introduction to the academy sector and the reporting requirements for academies;
- work programmes in both Excel and PDF format including programmes for reporting on Regularity and to the Teachers’ Pension Scheme;
- example letters: an engagement letter including a standard terms of business, a letter of representation and a management letter;
- example reports for audit of the financial statements and regularity purposes;
- disclosure checklists that address the requirements of the 2015 Charities SORP (FRS 102), the relevant Academies Accounts Direction and other academy specific disclosures;
- reference material such as the Academies Financial Handbook, the Academies Accounts Direction, and the National Audit Office communication to auditors; and
- archived reference material and disclosure checklists relating to previous regulations.
The system is compliant with the International Standards on Auditing (UK) as revised in June 2016 and later.