Skills Funding Agency accounts 2011-12

Published July 1, 2012

Amyas Morse, the Comptroller & Auditor General, has given a qualified audit opinion on the 2011-12 accounts of the Skills Funding Agency in relation to how the Agency has accounted for further education colleges.

Further education colleges’ results have not been consolidated in the Agency’s financial statements. The Agency considered that it would not be cost effective to seek to consolidate the bodies as costs would be incurred by both itself and the FE sector in doing so, especially as the powers over colleges were in the process of being changed during 2011-12. These changes were confirmed by Royal Assent of the Education Act in November 2011.

http://www.epolitix.com/members/member-press/member-press-details/newsarticle/skills-funding-agency-accounts-2011-12///sites/national-audit-office/