Whether your school is run as a charity, a private enterprise or as an academy, it makes sense to work with professional advisers that understand the education sector and the reporting and regulatory regimes with which you must comply.

At Fiander Tovell accountants in Southampton, we begin by making sure we have a detailed understanding of the ethos and circumstances of your school, so that we are best positioned to tailor our advice and support to your needs.

We’ll provide services that will complement those of your in-house bursar or finance team, working alongside them to provide practical assistance and advice to ensure that governors fulfil their responsibilities for achieving financial good governance.

We will also use our expertise to help you maximise resources for your key priorities of achieving the most positive outcomes for pupils. Areas where we can assist include:

  • preparing accounts compliant with the Companies Act 2006 and the Charities Statement of Recommended Practice (SORP)
  • audit services
  • tax planning and compliance
  • VAT advice and assistance
  • payroll services
  • outsourced bookkeeping
  • management information, budgeting and cash flow forecasting
  • governors’ reports.

For many schools, gaining academy status represents an opportunity to achieve a greater degree of independence, including on financial matters.

It also means you will face some unfamiliar challenges and in dealing with these, the support of advisers experienced in working with academies can add real value.

We can guide you through the process of preparing for and going through conversion as well as supporting you post-conversion, advising you on issues including:

  • accounting, reporting and regulatory requirements
  • financial controls and systems
  • IT systems
  • governance issues
  • reporting required by the Education Funding Agency (EFA)
  • the EFA’s Academies Financial Handbook.

For more information on how Fiander Tovell accountants in Southampton can help you, please contact us.