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Academies Financial Handbook
A handbook issued by EFA that describes financial requirements for academy trusts
The Academies Financial Handbook sets out the financial management, control and reporting requirements that apply to all academy trusts. It describes a financial framework for trusts that focuses on principles rather than detailed guidance and reflects their accountability to Parliament and to the public.
Compliance with the handbook is a condition of each trust’s funding agreement.
Academies Financial Handbook 2016
The 2016 edition of the handbook is effective from 1 September 2016. It increases the focus on financial governance and leadership and emphasises the responsibility on trustees to have the right skills to support and challenge the leadership team.
The main changes are summarised on pages 5 and 6 of the handbook.
Academies Financial Handbook 2015
The 2015 handbook is effective from 1 September 2015 to 31 August 2016. Academy trusts completing financial statements for the period ending 31 August 2016 should refer to the 2015 edition of the handbook.