Finding the Perfect Fit: Selecting an Internal Scrutiny Provider for Your Academy Trust

Ensuring effective risk management and robust internal controls is paramount for any academy trust.

By Amelia Clark
Internal Scrutiny Auditing Manager

Internal scrutiny, an independent assessment of risk management controls, plays a vital role in meeting the obligations of section 3 of the Academy Trust Handbook and providing additional assurance to your board and audit committee that your processes are fit for purpose. With numerous providers offering internal scrutiny services, how do academy trusts choose the right partner? What should be your key considerations when selecting an internal scrutiny provider.

Scope and Coverage:

Comprehensive Scrutiny: A good internal scrutiny goes beyond just financial controls. It should encompass non-financial areas like HR practices, safeguarding, health and safety, and IT security. Choose a provider with the expertise to cover the full spectrum of your academy trust's operations.

Risk-Based Approach: The internal scrutiny should be tailored to your trust's specific risk profile advised by the trust’s audit committee. The provider should work with you to identify key risks and develop a customised audit plan that addresses them effectively to support you to achieve your strategic aims.

Communication and Reporting:

Clear and Concise Communication: The chosen provider should maintain clear communication channels throughout the entire process. They should explain their findings in a readily understandable way and be open to addressing any questions or concerns from your team, audit committee and board.

Timely and Actionable Reports: The internal scrutiny report is a crucial output. It should be delivered promptly, outlining findings, recommendations for improvement, and clear action plans with defined timelines.

Independence and Objectivity:

Conflict of Interest: The provider should have no conflicts of interest with your academy trust. They should be an independent entity with no vested interest in the outcome of the internal scrutiny.

Objective Assessment: The provider's approach should be impartial and objective. They should base their findings solely on evidence gathered during the scrutiny process, but can also be a critical friend to help your academy become more efficient with advice and best practice shared with your team.

Value for Money:

Cost-Effectiveness: Internal scrutiny is an obligation, but can become an essential investment through improvements made as a direct result of auditing outcomes. However, cost considerations are important. Compare fees and services offered by different providers to find one that delivers value for money.

Focus on Education Expertise

Why Choose an Education Specialist?  An internal scrutiny provider with extensive experience in the education sector offers significant benefits. They understand the nuances of academy operations, the regulatory landscape, and the unique challenges faced by educational institutions. This translates to a more insightful and relevant internal scrutiny tailored specifically to your academy trust's needs, with helpful best practice recommendations, templates and tools you can use to make efficiencies and improvements.

Strictly Education: Your Ideal Internal Scrutiny Partner

Strictly Education stands out as the ideal partner for your academy trust's 2024/2025 programme of internal scrutiny. Our team comprises education specialists with deep expertise in all aspects of academy operations including Facilities and Property, IT strategy and security, Risk Management, Governance, Human Resources, SEN provision, safeguarding, student attendance and retention, compliance and Academy Finance. We offer a comprehensive approach, covering both financial and non-financial areas, with a strong focus on risk management. We pride ourselves on clear communication, timely reporting, and a commitment to delivering exceptional value for money by sourcing solutions from our in-house experts.

By choosing Strictly Education, you gain an internal scrutiny partner that understands the unique demands of the education sector and the obligations of reporting to the ESFA. We work collaboratively with your audit committee to identify areas for improvement and provide actionable recommendations to help you achieve your strategic goals. With Strictly Education, you can assure effective risk management for your academy trust.

Download our Guide to Internal Scrutiny

Learn more about Strictly Education’s Internal Scrutiny Service

If you would like to arrange a meeting to discuss your education finance needs with Susan and her team, call Strictly Education on 0330 123 2549 or email enquire@strictlyeducation.co.uk