A Birmingham accountancy firm has launched a new arm of the business following a surge in demand for its services.
Chantrey Vellacott DFK has set up its Education Group to support academies, independent schools and colleges across the region and continues to build on their already existing knowledge in the sector.
Bill Devitt, a partner at Chantrey Vellacott DFK with a strong background in auditing and working with the education sector, is heading up the team working closely with colleagues from the firm’s 10 offices across the Midlands and the South.
He said a significant increase in state schools converting to academies was one of the major factors behind the launch.
“The opportunity to seek academy status is an exciting one for many governors and school heads, and the number of schools converting is increasing rapidly,” he said.
“Moving to academy status does however bring with it many additional financial and regulatory responsibilities which must be addressed.
“This ranges from developing accounting and risk management policies to completing statutory documents for board changes, annual returns and making sure schools comply with VAT requirements.