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<p>The Academies Financial Handbook is not prescriptive about where academy trusts
buy the services that they need. Trusts are free to choose, but in doing so they have
important responsibilities. Paragraph 1.5.11 of the Handbook explains that trusts
must exercise their discretion reasonably and in a way that commands broad public
support. Paragraph 1.5.21 explains that the accounting officer is personally accountable
for regularity, propriety and value for money in the trust’s financial conduct. Section
3.3 sets out that trusts must seek prior approval from the EFA for transactions that
are novel or contentious.</p>
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