Changes to Risk Protection Arrangements for 2016 explained

Changes to Risk Protection Arrangements for 2016 explained

Author: Ruth MurtonDate posted: September 2016

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.

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Related Party Transactions

The Department for Education, through the Education and Skills Funding Agency, has introduced new statutory requirements for academy trusts over related party transactions. These new requirements came into force on 1st April 2019 and apply to all new transactions from that date. It is essential that trustees are aware of these new requirements and seek assurances from their trust that it is fully compliant. To read this article in full, log into your |Better Governor account or simply register, for free, by clicking the orange button.