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.
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Risk Management
Risk Register
Insurance
Whistle blowing
Continuity plan
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Governance
Trustee Responsibilities
Register of Directors and Members
Declaration of interests
Benefits
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Lettings
Scale of charges
Indemnity Forms
Cash collection
Invoicing arrangements
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Income
Banking / Cash Processing
Documentation
Separation of duties
Debtor invoicing systems
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Payroll
Segregation of duties
Payments are to genuine employees
Reconciliation to source documentation
Reconciliation of amounts paid
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Audit Arrangements
Last external audit report
Audit Committee
Internal financial controls
Last internal audit report
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Purchasing
Genuine / Appropriate expenditure
Tendering
Authorisation
Card and individual’s payments
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Budget Planning
Management Reports
Governor Reports
Budget Plan
Long term budget forecasting
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Catering
Income is properly recorded
Contractor obligations are met
Budget Control is appropriate
Free meal authorisation
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Pupil Premium
Included with budget plans
Uses of funding agreed with Governors
Reports to Governors
Published on School Website
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Cash Control
Bank reconciliations
Cash flow projections
Control account review
Cash collection procedures
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Assets and Leases
System for recording
Existence of assets
Disposable of assets
Register of leases
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Financial Oversight and Control
Scheme of delegation
Internal Control Framework
School Development Plan
Minutes of Governing Body Meetings