Fraud, financial irregularities and Academies
Sadly Academies and MATs are not immune from fraud (whether by employees or external) and financial irregularities. Prevention is however better than cure. The Academy and MAT should consider regular unannounced external reviews of the financial controls, training and have a whistle blowing policy in place.
Potential areas of irregularity include staff expenses, staff salaries, reference checks, procurement, bank fraud, supplier fraud, IT hacking and funding claims.
The hallmarks of the internal fraudster include not taking all their annual holiday, defensive and dominant behaviour, living beyond their means and working regular long or unsociable hours.
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