Internal Scrutiny
Internal Scrutiny is a critical component of your organisation's governance framework. It provides independent assurance to the board that both financial and non-financial controls, along with risk management procedures, are operating effectively. This service is mandated by Section 3 of the ESFA Academy Trust Handbook and is essential for maintaining strong governance, risk management, and control arrangements within your trust.
Service Objectives:
- To conduct a thorough program of internal scrutiny as per the trust's risk register and decisions made by the audit and risk committee.
- To deliver unbiased and valuable insights that contribute to the trust's overall effectiveness and efficiency.
- To ensure compliance with the Academy Trust Handbook and provide an annual report to the ESFA.
Service Delivery: Your trust has the flexibility to choose how the program of internal scrutiny is delivered, ensuring it aligns with the trust's unique needs and objectives. The service can be tailored to focus on specific areas of concern as identified by your trust's risk register and agreed upon by your governing board.
Value Proposition: An effective internal scrutiny function is not just about compliance; it adds real value to your trust by enhancing the effectiveness of internal controls and contributing to your trust's reputation for strong governance.
Reporting: Findings from the internal scrutiny will be reported to your appropriate governance committee, with an annual summary provided to the ESFA, ensuring transparency and accountability.
Conclusion: The Internal Scrutiny Service is an indispensable tool for your trust, ensuring that the highest standards of governance and control are maintained, thereby supporting your trust's mission to provide the highest quality education and opportunities for all learners.
Areas of Focus:
The financial and non-financial audit process can include:
- Financial Evaluation
- Budgeting
- Procurement
- Risk Profiling & Management
- Governance Review
- HR Processes & Reporting
- Health & Safety
- IT Systems & Cyber Security
- Estates & Facilities Evaluation