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) 2017 to 2018, 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 2018.
For the second AAD in a row there have not been a significant number of changes. The subtle amendments and enhancements are positive and should help consistency and understanding of financial reporting requirements for academy trusts.
To help you decipher the changes, we have produced our own summary, using our sector knowledge and experience to add in our commentary and views on the implications. Download it below: