Financial Assurance
The main purpose of the Skills Funding Agency’s Provider Financial Assurance team is to ensure Agency funds have been used by providers for the intended purposes. We deliver a programme of work designed to provide assurance to this effect to the Chief Executive of Skills Funding.
Our key responsibilities include:
- To develop and implement, in collaboration with the YPLA, local authorities, Higher Education Funding Council for England and provider and accountancy profession representatives, an agreed assurance accountability framework
- To deliver a programme of assurance using direct assurance fieldwork and gaining assurance from the work of other auditors
- To agree, develop and implement a programme of reviewing providers financial management and control arrangements in parallel with Ofsted
- To provide the necessary information to enable the generation of a Financial Management Control evaluation
- Regular assessment of non-college provider financial health and the provision of advice, guidance and information to other parts of the Skills Funding Agency.
