Academy Accounts Direction 2023 – Changes To Existing Requirements

The Government has published its Academies Accounts Direction for 2022-23 and the good news is that no new requirements have been introduced. That does not mean, however, that academy leadership teams should be complacent as clarification and changes have been made to existing requirements.

The Accounts Direction sets out the requirements for academy trusts and their advisers in preparing annual reports and financial statements for the accounting period ending 31 August 2023.

The Direction is published alongside two further documents – a model set of accounts (called the Coketown model) and an auditor framework and guide primarily for the use of external accountants and auditors.