Our summary of the key changes for trustees and finance staff
The Education and Skills Funding Agency (ESFA) have published the Academies Accounts Direction (AAD) 2019 to 2020, 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 2020, or for trusts preparing short period cessation accounts beginning 1 September 2019.
This year the number of changes are modest and the main updates relate to narrative and reporting disclosures for the trustees’ report. Some of these will require a great deal of additional work, so early planning is crucial.