Getting ahead of the audit: practical preparation for multi-academy trusts

Alongside the day-to-day work of managing budgets, payments and reporting, there is the additional task of gathering evidence, reviewing balances and making sure records are ready for scrutiny.

The earlier that preparation begins, the more opportunity there is to identify gaps, resolve queries and avoid a rush when auditors arrive. A clear plan also helps finance leaders coordinate activity across schools and give trustees greater confidence in the information being presented.

Some of the most useful starting points are also the most practical: ensuring core reconciliations are complete, checking the treatment of assets, reviewing year-end cut-off and confirming that funds are recorded and presented appropriately. These details can have a significant impact on how smoothly the audit progresses.

For trust leaders and finance teams, the aim is a well-managed process with fewer unexpected questions, clearer evidence and more time to focus on the decisions that matter. Good audit preparation supports stronger financial governance throughout the year, helping boards understand the trust’s position and plan responsibly for the future.

To help, TLG EduFin’s Audit Assurance team has developed a free MAT Audit Preparation Checklist. It breaks down the essential steps trusts can take ahead of year-end and is accompanied by a practical guide covering core reconciliations, assets, cut-off and funds, as well as EduFin’s Audit Assurance services.

Across TLG, our focus is on helping education teams work with greater confidence and less operational complexity. For finance teams, that means access to specialist expertise and resources that turn demanding processes into more manageable, well-planned activities.

Explore EduFin’s free audit preparation checklist and guide to start planning a more confident year-end audit.