UPDATE from the BBC (April 4 2014): Discovery Free School shut down
This is from the DfE's investigation reports:
http://www.education.gov.uk/aboutdfe/executiveagencies/efa/efafundingfinance/b00212647/external-assurance/academiesfraud-/investigation-reports
The investigation document (published in October 2013) included theses paragraphs:
'The Trust does not monitor cash flow, does not have an approved budget for
2013-14 and has not developed an up to date long term financial plan. There is
a significant risk that the school may not be able to meet its financial obligations
and may not represent a going concern.
'Trust’s operations;
The suspended Head Teacher and the School Business Manager
(SBM), who was absent from work at the time of review, are the sole
signatories on the bank mandate and sole users with access rights to the
electronic banking system. No payments can be made by the school
until the SBM and/or Head Teacher return to work or until the mandate is
changed.'
Auditor: Richard Place Dobson
'The school has agreed terms with
Richard Place Dobson (the
accountancy firm that audit the
school’s accounts) to assist with
monthly management accounts,
budgets and forecasts. Auditors
will not be directly involved with
this work...'
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