The Education Funding Agency (EFA) has issued a new Accounts Direction which has updated requirements for academy auditors and applies to academy accounts for the year ended 31 August 2012. The main changes are set out below:

• Replacing the statement on internal control with a governance statement that provides information on the governance structure of the academy trust.

• Introducing a statement on regularity, propriety and compliance which requires academy trusts’ accounting officers to confirm formally that their responsibilities for ensuring the regular and proper use of the academy trust’s funds have been delivered.