Working With Your Internal Scrutiny Partner: A Guide for Academy Trusts
Effective internal scrutiny is critical for ensuring compliance, financial integrity, and strong governance within academy trusts.
Whether your trust is new to internal scrutiny or seeking to enhance its current approach, working effectively with your internal scrutiny partner can deliver real value.
Here's a step-by-step guide to help you maximise the benefits of your partnership.
1. Understand the Role of Internal Scrutiny
Before collaborating with your internal scrutiny partner, ensure all stakeholders understand their purpose. Internal scrutiny focuses on providing independent and objective assurance that financial and non-financial controls are robust and working effectively. This is an ongoing process of review and improvement.
Learn more about internal scrutiny best practices in our blog, 7 steps to effective internal scrutiny.
Action Point:
Share the ESFA's requirements for internal scrutiny with your board of trustees and senior leadership team to align expectations.
2. Select the Right Partner
Choosing the right internal scrutiny provider is crucial for long-term success. Look for a partner with expertise in education, a strong understanding of academy trust governance, and a collaborative, proactive approach. Providers like Keystone Knowledge bring valuable expertise in delivering effective internal scrutiny services. See more in our blog, choosing the right internal scrutiny partner.
Action Point:
Create a checklist of requirements when evaluating potential partners. Don't be afraid to ask for references from other trusts.
3. Set Clear Objectives and Expectations
Collaborate with your internal scrutiny partner to define their role, objectives, and the scope of their work. Discuss the specific areas you'd like reviewed, such as financial controls, safeguarding procedures, or governance structures.
Action Point:
Outline expectations, timelines, and key deliverables with your partner.
4. Encourage Open Communication
Effective scrutiny relies on transparency and trust. Encourage open communication between your internal scrutiny partner, trustees, and senior leaders. Share key documents such as previous internal scrutiny reports, financial reports, risk registers, and compliance records.
Action Point:
Schedule regular meetings to review findings, address concerns, and agree on action plans.
5. Be Proactive in Implementing Recommendations
The value of internal scrutiny lies in the actions you take following their recommendations. Approach findings as opportunities to improve, rather than criticisms. Certain providers, like Keystone Knowledge, go a step further by not only conducting the audit but also supporting you in implementing their recommendations.
Action Point:
Develop an action plan to address recommendations, assigning clear responsibilities and deadlines. Regularly review progress and celebrate improvements.
6. Use Scrutiny Insights to Strengthen Governance
Internal scrutiny provides insights that can help trustees and leaders make informed decisions. Use these findings to refine your risk management strategies and strengthen overall governance.
Action Point:
Incorporate scrutiny insights into board discussions and strategic planning sessions to demonstrate how the process informs decision-making.
7. Evaluate the Relationship Regularly
To ensure your internal scrutiny partnership remains effective, evaluate the relationship and the outcomes of the process. Ask for feedback from your internal scrutiny provider and stakeholders within the trust.
Action Point:
Hold an annual review to assess the effectiveness of the internal scrutiny process and identify areas for improvement in the partnership.
Unrivalled Internal Scrutiny Support for Your Trust
Our internal scrutiny service provides the tools and expertise needed to protect your academy trust and stay ahead of compliance requirements, ensuring the best outcomes for your trust and its pupils.
Our tailored service includes:
- A deep understanding of the challenges faced by academy trusts
- Annual reviews covering financial operations and non-financial areas
- Detailed scrutiny of key areas such as finance, safeguarding, governance, payroll, and health and safety
About the author
Stephen is an experienced leader in education, and the CEO of Keystone Knowledge. He has worked as CEO, CFO, COO across academies since 2012 and delivered programmes of change and rapid organisational improvement.
He holds an MBA with a thesis on improving the quality of management in education, is currently working on his Doctorate, and is a national lead assessor on the School Resource Management Advisor (SRMA) programme for the DfE. He regularly speaks at national conferences on a range of topics relevant to the education sector.
