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Investigation into the Education Funding Agency’s oversight of related party transactions at Durand Academy

13 November 2014

The National Audit Office has today published the findings from its investigation into the Education Funding Agency’s oversight of the Durand Academy Trust. The report examines the EFA’s oversight of the Trust’s compliance with guidance on conflicts of interest and related party transactions.

The report is in response to correspondence addressed to the Comptroller and Auditor General and the Chair of the Public Accounts committee.

The investigation examines the nature of the conflicts of interest, the control framework for related party transactions and the EFA’s response to issues identified at Durand Academy Trust.

Notes for Editors

  1. This report is a National Audit Office Investigation. The NAO conducts investigations to establish the underlying facts in circumstances where concerns have been raised with us, or in response to intelligence that we have gathered through our wider work.
  2. Press notices and reports are available from the date of publication on the NAO website, which is at Hard copies can be obtained by using the relevant links on our website.
  3. The National Audit Office scrutinises public spending for Parliament and is independent of government. The Comptroller and Auditor General (C&AG), Amyas Morse, is an Officer of the House of Commons and leads the NAO, which employs some 820 employees. The C&AG certifies the accounts of all government departments and many other public sector bodies. He has statutory authority to examine and report to Parliament on whether departments and the bodies they fund have used their resources efficiently, effectively, and with economy. Our studies evaluate the value for money of public spending, nationally and locally. Our recommendations and reports on good practice help government improve public services, and our work led to audited savings of £1.1 billion in 2013.

PN: 58/14