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Academies Accounts Direction 2020 to 2021

The Education and Skills Funding Agency (ESFA) have published the Academies Accounts Direction (AAD) 2020 to 2021, 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 2021, or for trusts preparing short period cessation accounts beginning 1 September 2020.

Although the AAD contains a summary of the main changes, we have once again produced our own summary of these changes along with our commentary and views on the implications, drawn from our extensive sector knowledge and experience.

There are not a significant number of changes this year but here we outline the main changes academy trustees and finance staff need to be aware of.

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