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SECTION 11 INTERNAL CONTROL - …

2013-14 INTERNAL CONTROL October 2013 1 SECTION 11 INTERNAL CONTROL Contents: Page No: 1. INTRODUCTION ..3 2. DEFINITION OF INTERNAL CONTROL ..3 3. INTERNAL CONTROL IN THE SCHOOL ENVIRONMENT ..3 4. GOVERNANCE & FINANCIAL MANAGEMENT ..3 Delegation of powers ..3 Clerking of meetings ..5 Roles and Responsibilities ..5 Pecuniary Interests ..5 Prevention of Fraud ..6 Financial Responsibilities ..6 New Governors ..7 5. BUDGETARY CONTROL /FINANCIAL MANAGEMENT ..7 The Annual Budget ..7 Changes to the Annual Budget ..7 Reconciliation of the Financial Systems ..7 Financial Reporting to Governors ..8 The School Development Three Year Financial Projections ..8 6. INSURANCE ..9 General ..9 Hirers of the School/Other Users ..9 Staff travelling on school business ..9 7. SCHOOL FUND ACCOUNT ..9 Audit ..9 Audited Accounts.

2013-14 Internal Control October 2013 3 1. INTRODUCTION This section of the handbook has been produced by Internal Audit and is designed to provide guidance on requirements for schools to demonstrate that

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