Financial Health Check Review

The Financial Health Check Review Service provides the Governing Body & Accounting Officer with an on-going independent assurance that:

The financial responsibilities of the governing body are being properly discharged;
Resources are being managed in an efficient, economical and effective manner;
Sound systems of internal financial control are being maintained;
Financial considerations are fully taken into account in reaching decisions.

Financial Health Check Review service

This service consists of on average of over 2 days on-site visits and 1 day off-site report writing. (The frequency of visits will be tailored to meet individual academy needs; monthly, termly, twice a year or even once a year to test/review a specific area).

During this visit I would undertake a series of detailed checks. A detailed report of these checks would be documented along with the outcome from the series of testing carried out. This report would provide assurance to the Governing Body and the Accounting Officer that the areas tested within the review are being operated satisfactorily and visa versa if any areas tested were not meeting the EFA requirements then these areas would be highlighted and documented in the report with suggestions for improvement.

The onsite Financial Review Health Check will focus on the following key areas:

  • Carry out an analysis of the Academy bank reconciliations for the period to be reviewed to ensure they have been performed on a monthly basis
  • Review the monthly payroll randomly select a number of staff across all groups of personnel in the academy to ensure that any changes have been appropriately authorized and paid as per their contract. (Including HR checks)
  • Randomly select and check a sample of orders to delivery notes and invoices to ensure that the documentation is complete and has been appropriately checked and authorised for valid purchases
  • Review a sample of Petty Cash Expense Claims to ensure there is appropriate documentation to support the claim and that the claim is appropriately authorized. Including – carrying out spot checks of petty cash balances
  • Review a sample of Debit Card / Credit Card transactions to ensure there is appropriate documentation to support the transaction and the transaction is appropriately authorized
  • Review Capital Income and Expenditure and relevant contracts
  • Review all major contracts and ensure formal tendering procedures exist and are being adhered to
  • Review Academy Income (Academies Infant Universal Free School Meals Funding, Pupil Premium, PE / Sports Funding, lettings and miscellaneous sales)
  • Review Asset Register and Disposal Control
  • Information and Communications Technology (ICT) – Financial Security
  • Bank account controls – checking authorized signatories/mandates
  • Extended schools facilities – appropriate insurance and risk assessments in place
  • Check the Academy Website to ensure compliant with the requirements specifically to the AFH (Academies Financial Handbook)

Additional Bespoke Service Offered:

Bespoke Finance Policies & Procedures Writing Service

A pricing example for this Service


No. Days

Unit Cost


On-Site Visit




Off-Site Report Writing




Total Cost


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