Financial Statements - Primary Schools

Feb 21, 2020

As previously advised we met with the Financial Support Service Unit (FSSU) on 13 February 2020.  There have been no updates to the current reporting requirements. CCAB-I have raised a number of significant concerns by way of letter about the examples set out in this booklet with both the FSSU and the Minister for Education and Skills, including the absence of any reference to a recognised accounting framework and the wording of the proposed accountant’s report.  At present, these concerns have not been resolved but we have subsequently received confirmation from the FSSU that they are further engaging with relevant bodies.

In relation to lodging the Annual School Accounts, we understand that some Boards of Management have opted to prepare accounts under measurement and presentation FRS102 and have submitted accounts on that basis.

The decision to sign any form of report should be taken by each member having regard to your own risk management framework.

We will continue to engage with the FSSU and will update you on any developments.