Hacked by Loard Mahdi

Read more...

Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

ABDS Budget Coverage 2012 22/03/12

Read more...

Contractors and IR35? 17/05/12

Read more...

Fuel duty tax recovered by economic boost.

Read more...

 Contact Us

 
News Items
 
Tax Tips
 
Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
 
Helping Your Business is Our Business

Call us now on 023 8083 6900 ABDS Home

News - 11 June 2014

The Education Funding Agency not robust enough

 The Commons Public Accounts Committee (CPAC) has said that The Education Funding Agency (EFA) "does not spot risks or intervene in schools quickly enough."

 
The EFA will this year distribute £54bn to education providers, including local authorities, academies and academy trusts, but it lacks both the systems and the data necessary to carry out its responsibilities effectively, says the MPs' report.
 
It succeeds in getting money to education providers on time, but "has not yet got to grips with effective oversight of how that money is spent".
 
The government said it disagreed with the committee's interpretation.
 
Tonmoy Kumar, Manager of the Accounts Department of ABDS and an active school governor comments:
“The report cites the examples of the E-Act Academy Trust, heavily criticised last year for a culture of extravagant expenses, and Kings Science Academy in Bradford, the focus of a fraud investigation. Last year 339 academy trusts, almost one in 10, failed to submit their annual accounts on time, but by March this year the EFA had issued only eight notices to improve, notes the report.”
 
The CPAC says the EFA relies on whistleblowers, external auditors and "broad, desk-based reviews", which are "not sufficiently risk-focused", and calls on the Department for Education and the EFA to state how and when they will develop the capability for "systematic or forensic analysis" of the data in order "to spot risks and target their interventions early".
 
They warn of potential conflicts of interest where academies have links to private companies and say "individuals may have benefited from their position when providing trusts with goods and services".
 
Nick Weller, chairman of the Independent Academies Association, said he believed that as a whole "the EFA and DfE do have effective oversight of how public money is spent across the sector".
 
A DfE spokesperson said: "We do not agree with the PAC's interpretation.
"The EFA is in fact faster at intervening in failing schools than many local authorities. The use of whistleblowers is an important means of gathering evidence and is by no means unusual in the public sector. Of course we are constantly trying to improve the EFA's performance and we will consider the PAC's recommendations in that light."
 
If you need any help and advice with Free Schools, Academy Schools or Charities, contact Lavinia Newman or Peter Ham now to discuss how ABDS can help bring their experience to these matters.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
Brilliant with numbers  
Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
Helping Your Business is Our Business
 

« Back to News