In these uncertain times risk management has become a vital business tool of any organisation. Within an academy we understand that the responsibility for managing risks rests with the board of trustees (the board). Should a risk materialise such as breakdown in safeguarding or financial mismanagement, questions will be raised regarding the governance and risk management processes. The responsibility of the board is to ensure the academy’s risks are managed effectively; one way this can be achieved is by implementing a formal Board Assurance Framework (BAF).
Given our position as one of the market leaders of audit, advisory and assurance services to the academy sector, we have developed this guide to further aide understanding, share our experience and expertise in the successful implementation and roll out of effective board assurance arrangements within many clients, and to provide support through the provision of this toolkit.
We explain the purpose of board assurance and answer your core questions. Does your board understand and implement a risk management strategy?
Discover the key benefits of assurance mapping when developing and producing your board assurance framework, and how as a result will support achieving your academy’s strategic objectives.
There are four main steps to developing board assurance arrangements; does your board have any of these steps in place?
The Education Funding Agency made it clear that there are concerns that academies are struggling with the concept of risk management. Benchmark your academy's key risks against others in the sector.
