Internal Scrutiny

At EduFin we provide an Internal Scrutiny that provides trustees and managers the tools to maintain a robust financial oversight

Our aim is to ensure we deliver a service that is flexible enough to support the infrastructure of your trust, promotes best practice and provides peace of mind. Our internal audit service can cover a wide range of areas, our initial meeting will determine the focus that subsequent visits take but we would look to include elements of the below.

  • Risk Management

    Risk Register

    Insurance

    Whistle blowing

    Continuity plan

  • Governance

    Trustee Responsibilities

    Register of Directors and Members

    Declaration of interests

    Benefits

  • Lettings

    Scale of charges

    Indemnity Forms

    Cash collection

    Invoicing arrangements

  • Income

    Banking / Cash Processing

    Documentation

    Separation of duties

    Debtor invoicing systems

  • Payroll

    Segregation of duties

    Payments are to genuine employees

    Reconciliation to source documentation

    Reconciliation of amounts paid

  • Audit Arrangements

    Last external audit report

    Audit Committee

    Internal financial controls

    Last internal audit report

  • Purchasing

    Genuine / Appropriate expenditure

    Tendering

    Authorisation

    Card and individual’s payments

  • Budget Planning

    Management Reports

    Governor Reports

    Budget Plan

    Long term budget forecasting

  • Catering

    Income is properly recorded

    Contractor obligations are met

    Budget Control is appropriate

    Free meal authorisation

  • Pupil Premium

    Included with budget plans

    Uses of funding agreed with Governors

    Reports to Governors

    Published on School Website

  • Cash Control

    Bank reconciliations

    Cash flow projections

    Control account review

    Cash collection procedures

  • Assets and Leases

    System for recording

    Existence of assets

    Disposable of assets

    Register of leases

  • Financial Oversight and Control

    Scheme of delegation

    Internal Control Framework

    School Development Plan

    Minutes of Governing Body Meetings