The Risk Protection Arrangement (RPA) is available through the Department for Education and Education Funding Agency. It is an alternative way of protecting academy trusts against losses due to any unforeseen or unexpected events. The Education Funding Agency has made some changes to the scheme the new academy financial year. These changes include a reduction in the cost, introduction of more rigorous risk management audits and increased responsibilities for trusts.
This article focuses on these key changes to the scheme and explores what governors need to know and the questions they should be asking in relation to risk.