This is a reminder that the Financial handbook for independent training providers (ITPs) came into effect on Thursday 1 August 2024. The handbook applies to ITPs in receipt of funds provided directly by DfE or ESFA, for the duration of providers’ contracts of service with DfE or ESFA. The handbook contains 3 main sections – governance, financial management and oversight, and assurance. Key areas include submission of annual accounts, external audit, internal controls, risk management, and funding compliance and scrutiny. David Withey, ESFA’s Chief Executive, wrote to independent training providers in February 2024 to explain why this handbook has been created and how it should be used. The handbook was published on Wednesday 28 February 2024 to give ITPs the opportunity to familiarise themselves with its contents and adapt their procedures as appropriate before Thursday 1 August. Click here for a webinar introducing the Financial handbook for independent training providers.
