ESFA has published a financial handbook for independent training providers (ITPs), which comes into effect on 1 August 2024. It applies to ITPs in receipt of funds provided directly by the Department for Education (DfE) or ESFA, for the duration of providers’ contracts of service with DfE or ESFA. The handbook focuses on the 3 themes of governance: financial management, oversight, and assurance – outlining requirements and recommendations for ITPs dependent on their level of DfE and ESFA funding. Key areas include the submission of annual accounts, external audit, internal controls, risk management, and compliance with funding rules. A letter from ESFA’s chief executive, David Withey provides more information.
