Finance and controls
Budget forecasts, management accounts, cash flow, delegated authority and reconciliations.
EDUCATION CONSULTANCY / FINANCE
Build financial resilience without compromising pupil outcomes.
Review budgets, controls, procurement and resource allocation across your trust.
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MAT Finance & Operational Efficiency
Trustees, CFOs, CEOs and audit and risk committees. We focus on practical advice, clear accountability and proportionate assurance.
Value for money
Contract reviews, staffing and service costs, benchmarking and operational performance.
Decision support
A prioritised improvement plan with clear owners, savings assumptions and risk controls.
DfE standards & assurance
Requirements, audits and useful reviews
A required statutory audit or inspection is different from a recommended management review. Applicability depends on the trust, buildings, systems and activity. The 2026 Academy Trust Handbook is effective from 1 October 2026.
Required assurance
Annual external audit and regularity assurance; risk-based internal scrutiny; annual SRMSAT submission and relevant DfE financial returns.
Recommended consultancy review
Finance process and procurement diagnostic, spend analytics, contract register and savings opportunity review.
Official guidance
How an engagement works
01 · Discover
Understand the trust structure, objectives, current assurance and key constraints.
02 · Review
Examine documents, interviews, data and evidence against the agreed scope.
03 · Improve
Present a prioritised action plan, ownership, timescales and optional implementation support.
Frequently asked questions: MAT finance and operational efficiency
Practical answers for academy trust leaders. Check current DfE guidance and obtain professional advice for trust-specific decisions.
Which financial audits must an academy trust undertake?
Academy trusts are subject to annual external audit and regularity reporting requirements, alongside an internal scrutiny programme. The precise arrangements should be checked against the current Academy Trust Handbook and funding agreement.
What is internal scrutiny in a multi-academy trust?
Internal scrutiny provides independent assurance over financial and non-financial controls. The audit and risk committee oversees a risk-based programme and ensures findings are followed through.
Does every trust need a finance efficiency audit?
A standalone finance efficiency audit is not universally mandated. A targeted diagnostic can help trustees identify avoidable expenditure, inconsistent processes and opportunities for better value.
How often should a MAT review its financial forecasts?
Forecasts should be monitored regularly and updated when pupil numbers, staffing, funding or major costs change. The appropriate cadence depends on trust risk and reporting arrangements.
How can trusts assess procurement value for money?
Review contract registers, competition and approval evidence, renewal dates, supplier performance and total lifetime cost, not simply the lowest quoted price.
What is the School Resource Management Self-Assessment Tool?
The SRMSAT is a DfE self-assessment used by academy trusts to review resource management. Check the current submission requirements and deadline on GOV.UK.
How can a MAT identify savings without harming education?
Start with non-classroom overheads, contract duplication, energy usage and workflow friction. Evaluate each proposal against safeguarding, service resilience and educational impact.
Should central and school budgets be reviewed together?
Yes. A combined review helps identify inconsistent cost allocation, duplicate contracts and cross-trust purchasing opportunities while preserving appropriate local accountability.
What should a trust financial controls review cover?
Typically delegated authority, purchasing, payroll, reconciliations, expense claims, segregation of duties, financial reporting and fraud prevention.
How should trustees track improvement actions?
Use an action register recording the issue, risk rating, responsible owner, due date, evidence and committee reporting route.
Can a consultant replace the external auditor?
No. Independent statutory audit and regularity assurance must be undertaken by appropriately appointed and qualified professionals.
What does an initial MAT finance diagnostic produce?
A scoped baseline, prioritised findings, evidence gaps, estimated opportunities where defensible and a practical improvement roadmap.