Oral Answers to Questions

Graeme Morrice Excerpts

Monday 19th January 2015 Commons Chamber

[Mr Timpson]

I do agree that we need to ensure that where grandparents take on what is a huge responsibility, often through the kindness of their hearts—and which has a huge effect on their own lives—we should ensure that it has every chance of being a success, not just for them but, most importantly, for the children they are caring for. Whether it is to do with pay and conditions or more holistic support, we need to ensure that the whole-family approach, which the legislation we recently introduced tried to articulate and embed, has a chance to flourish more in future. I believe there is a recognition across the House that we need to do more.

[Graeme Morrice (Livingston) (Lab)]

3. What recent representations she has received on the financial management of academies; and if she will make a statement.

[The Secretary of State for Education (Nicky Morgan)]

The financial accountability system for academies is more rigorous than for maintained schools, and my Department has recently received audited financial statements from academy trusts for the period to 31 August 2014. Within financial statements, trusts must set out how they have managed their finances throughout the year. Financial statements are subject to independent scrutiny by auditors. My staff are reviewing financial statements to determine whether there are any issues that we need to investigate.

[Graeme Morrice]

Happy birthday, Mr Speaker. I hope you have many in the Chair.

I thank the Secretary of State for her answer, but will she commit to including financial information in the performance data relating to academies—a commitment that her predecessor failed to honour—so that we can make accurate comparisons with all schools?

[Nicky Morgan]

The financial statements are both audited and published, and of course academies, as companies, are also subject to Companies House reporting, as well as to working with the Education Funding Agency. It is therefore clear that academies’ financial statements are already open for scrutiny, and the Department takes a close interest in the figures that are published.