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<p>We require a high level of accountability and transparency of academy trusts. Academy
trusts’ status as companies, charities and public sector bodies, means they have a
more rigorous tri-partite framework and are held up to greater scrutiny. The Education
and Skills Funding Agency (ESFA) has worked closely with the Trusts and investigations
are ongoing.</p><p>The results of the investigations are sensitive and cannot be shared
at this time. Investigations are by nature complex and can take time to achieve the
desired outcome. The ESFA is pursuing several avenues to ensure that matters are resolved
in the public interest.</p><p>In addition, the department is working with the sector
to continue building capacity and expertise in financial management, supporting effective
school resource management with specialist advisers, three-year financial forecasting
and developing buying hubs, and recommended deals for all schools.</p><p>All of this
is reflected in the compliance of the sector, with fewer than 2% of academy trusts
subject to an active financial notice to improve and 98% of academy trust accounts
receiving unqualified opinions in both 2015/16 and 2016/17.</p>
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