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Review of related party transactions in academies
A report by the Education Funding Agency (EFA) on related party transactions in academy trusts.
The Education Funding Agency (EFA) carried out a rigorous, risk-based analysis of all related party transactions disclosed in academy trusts’ 2012 to 2013 academy financial statements.
The report published on this page explains what is meant by related parties and explains the policy. It also summarises the findings and provides case studies and further information to assist academy trusts to comply with the requirements. The conclusion is that the vast majority of transactions are properly managed and disclosed.
The second document on this page is a statement of assurance template that academy trusts can use with any suppliers that are connected parties. This is also in the report at Annex C.