The academies and free school sectors have grown significantly over recent years to become the most dynamic area of education. With a long history of providing advice to our clients in the education space, you can rely on WR Partners to provide the specialist experience and knowledge required to not only support your school in its responsibilities to meet regulatory requirements, but also in its future development.
Our education experts examine every strand of your system’s architecture and security to ensure the numbers don’t just add up, they sing.
Think of an internal audit as the guardian of your institution’s financial reputation, securing the notion that every pound is where it should be and that risks are mitigated – a vigilant overseer ensuring laws and regulations are close allies rather than distant considerations. Our approachable team at WR Partners stands ready – not just with years of expertise – but with the sincere aim to empower and illuminate your path forward. Here, we blend tradition with innovation, leveraging modern technology and fresh perspectives to streamline your financial operations so that you can focus squarely on educational excellence and growth.
In the same way a gardener tenderly nurtures a plant, our internal audits tenderly nurture your school or academy’s finances. Our education experts meticulously examine every strand of your system’s architecture and security to ensure the numbers on your balance sheet don’t just add up, they sing. Their audits explore processes and systems with a fine-tooth comb, ensuring operational fluency and steadfast compliance to regulations. Our intimate knowledge of the unique financial landscape schools and academies face equips us with the foresight to not only pinpoint improvement areas but also to bolster them with unwavering support. Wrapping warmth around the numbers, we are your partners in growth; the friendly guide by your side as we step into a future where tradition meets innovation – a future where your financial system is robust, transparent, and agile.
Each education establishment is unique and has its own specific set of challenges, which is why WR Partners tailor our services to meet your exact needs. Our experience of working with free schools and academics in the education sector means we can add significant insight and value to your establishment.
An audit is where your organisation’s records are checked to ensure that your financial statements are showing a true and fair view of your organisation’s financial position and performance. There are different criteria for requiring an audit depending on what type and size of organisation you are.
An audit of a company follows a standard process set internationally. It checks, on a sample basis, the accuracy of the financial statements of the company.
No, some companies can claim exemption – If you qualify as a small company, then you’ll usually be exempt from needing an audit unless you’re a member of a group.
If you meet two of the following criteria then you will qualify as a small company:
There are certain companies that require an audit by law, regardless of their size or income. Further information on this can be found on the GOV.UK website.
Auditing provides an independent check on the finances of the company and auditors can report on any areas where they see improvements could be made.
Some companies require an audit by law – link to ‘does my company need an audit’. An audit can be valuable even if you don’t need one by law to provide an independent check on the finances of the company.
No, small companies can claim exemption, but some small companies will still have an audit if an independent check of the finances of the company is required – for example if the shareholders are not involved in the running of the company or if the company is going to be sold.
If you meet two of the following criteria then you will qualify as a small company:
We love meeting new, exciting businesses. Get in touch with our team to see how we could enhance and protect your financial position.
Or if you’d prefer to speak to someone directly just give us a call on: 08000 664 664 or email: hello@wrpartners.co.uk.
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