You focus on the teaching, we’ll do the maths
The Academy model is revolutionising the way in which schools operate. Choose MHA Carpenter Box to help your school make the most of the opportunity that being an Academy brings. As a member of MHA, which already acts for over 150 academies up and down the country, you will benefit from the experiences of primary and secondary schools who have successfully converted, meaning a smooth and cost effective transition.
The Academy Act 2010 offers schools the opportunity to benefit from the freedoms and flexibilities that academy status can bring, including: freedom from LEA control and routine school inspections, greater control over the budget, freedom to set teachers’ pay and contracts, as well as greater flexibility in the curriculum, term times and length of the school day. However, the decision not to proceed with academy conversion is equally important and needs to consider the level of support the LEA will be able to provide for schools that remain under their control.
The MHA Carpenter Box Academies team have achieved accreditation with PS Financials, the market leading academies accounting software. This means we are fully trained on the capabilities of the software and enables us to support academies even more with their reporting requirements.
MHA Carpenter Box has a broad experience in the education field and can support your school as it strives to attain Academy status. Our extensive expertise in the areas of accounts, audit and financial governance in the not for profit sector alongside the national resource that MHA brings us means that you will not be paying us to reinvent wheels for you. As part of our service we also provide newsletters and training to finance staff and governors to help them understand their roles and make the transition.
From the moment you decide that applying for Academy status is right for your school we can help you throughout the entire conversion process.
We can guide you on what Academy status means financially, advise you on setting up a trading company as well as provide responsible officer internal audit training.
Once a conversion has taken place there are many areas of compliance which need to be considered. We can help you deliver what is needed so you can use your time more efficiently. This includes carrying out the statutory audit, assisting with the preparation of statutory annual accounts, advising on annual trustees report, compliance with the Academies Finance Handbook and dealing with submissions to DfE, EFA and Companies House.
Governance is also a key issue for Academies, which is why we offer help with reserves and financial management, internal control, risk management and governor recruitment. We are also able to assist you with company secretarial obligations.
If your school is considering becoming an academy, our specialist academy accountants and business advisers can help with the following:
- Statutory Audit
- Academy accounts returns
- Management accounts
- Teachers’ Pension Scheme audit
- Payroll services
- VAT advice
- Cash flow forecasting/management
- Review and advice on the chart of accounts
- Internal audit training (the “Responsible Office” role)
- Trading company set up
- Process advice
If you are considering converting to an academy or have already achieved academy status but want further help, please contact Robin Evans, Head of our Academies Team.