Academies are required to nominate a Responsible Officer who will have responsibility for overseeing the Academy's financial arrangements.

Whereas in most public sector organisations, oversight is provided through an internal audit service, this is believed to be too onerous for an organisation of the size of an Academy; so the role of providing the Governing Body with independent assurance that the Academy is being run correctly is taken by the Responsible Officer.

The requirements of the Responsible Officer role are outlined on page 75 of the Academies Financial Handbook which can be downloaded from the Young People's Learning Agency

The Responsible Officer role can either be taken by one of the Governors (although not the Chair, nor a member of the Finance Committee), or an appropriate individual with the necessary financial skills and experience.