Independent schools with charity status must prepare accounts that comply with the Charities’ Statement of Recommended Practice (SORP), which must be audited by an external auditor.
Schools with company status must prepare annual accounts and may also be required to undergo an audit. Schools that do not require a statutory audit may from time to time choose to undergo a voluntary audit, as a way to strengthen internal financial discipline, provide reassurance to stakeholders of the soundness of their finances or assist with raising finance.
At Haslers, we can provide comprehensive support to independent schools with their financial reporting obligations, including carrying out statutory audits, preparing teachers’ pension returns and audits and providing year end statutory accounting services.
We can also carry out voluntary audits or help independent schools to review and strengthen financial systems and procedures with internal audits.
Whatever audit or accounting services we provide, we will do more than simply tick the boxes that keep your independent school compliant.
We also look at the bigger picture of your school, to help you operate as efficiently and cost-effectively as possible and be prepared to make the most of opportunities and address problems or challenges.
To find out more about Haslers’ East London and Essex-based accountancy and tax services for academies, free schools and independent schools, please contact us.