Academies Accounts Direction 2016 to 2017

Our summary of the key changes trustees and finance staff need to be aware of.

The Education and Skills Funding Agency (ESFA) have published the Academies Accounts Direction (AAD) 2016 to 2017, which is the guidance pack for academy trusts and their auditors to use when preparing their annual reports and financial statements for accounting periods ending on 31 August 2017.

We did not expect many changes in this latest edition, and there are indeed few major alterations which will impact on all trusts. There are, however, some key changes which will be important to the trusts that are affected.

To help you decipher these key changes, we have produced our own summary, using our sector knowledge and experience to add in our commentary and views on the implications.