Multi-academy Trusts - Question

Part of the debate – in the House of Lords at 3:14 pm on 10th July 2019.

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Photo of Lord Agnew of Oulton Lord Agnew of Oulton The Parliamentary Under-Secretary of State for Education 3:14 pm, 10th July 2019

My Lords, the financial arrangements and auditing of academies is based on a clear framework and effective oversight, with robust intervention when needed. Trusts must comply with the Academies Financial Handbook, publish audited accounts and have independent internal scrutiny. In November 2018, the academies sector annual report and accounts showed that the vast majority of trusts are compliant with financial requirements; 98% of accounts were unqualified by their auditors and 95% had no regulatory issues.