Financial Management Standard in Schools

On Monday 15 November 2010 the Department of Education (DfE) announced the end of FMSiS with immediate effect. Consequently planned assessments will no longer go ahead.

A new assessment is expected to be in place by summer 2011 and schools due for assessment when FMSiS ended will be first in line for the new assessment.

Information on this matter will be supplied as it is made available.

FMSiS was the main body of work done by internal audit within schools and alongside thematic reviews and computer assisted reviews, comprised the planned work for this year.

Internal audit may be in touch shortly regarding the planned thematic reviews and computer assisted reviews and regarding whether the programme of internal audit work within schools will be amended.

The DfE has released a FAQ for school and LA staff.

More information will be made available on this page and on the DfE's FMSiS website.

In case of queries please contact Michelle Bogle, audit manager at (020) 8825 7113.