An audit of St Mary's RC Primary School has identified significant weaknesses in its financial management, particularly concerning its bank reconciliation process and the tracking of income from lettings. The findings, detailed in an Internal Audit Progress Report presented to the Hammersmith and Fulham Audit Committee on Monday, March 16, 2026, resulted in a limited assurance
opinion for the school. The audit identified two high-priority and ten medium-priority recommendations for improvement.
Among the key concerns highlighted were issues with the bank reconciliation process and the tracking of income due from lettings, both flagged as high-priority recommendations. Medium-priority recommendations included ensuring timely review of Governor's DBS checks and declarations of interest, improving monthly budget monitoring, and ensuring evidence of an up-to-date bank mandate.
Other medium-priority recommendations focused on procurement options and best value, compliance with school policies for purchasing goods and services, HMRC (IR35) checks for self-employed staff, approval of invoices by an appropriate officer, improved record-keeping for balances and staff files, and evidence of payroll approval by an authorised officer.
The report stated that the school has accepted the recommendations and indicated that all have now been implemented. A follow-up audit is planned prior to the end of the financial year to ensure these improvements are sustained. The specific criteria for determining successful implementation have not been detailed.
Overall, the Audit Committee received an update on the work of Internal Audit for the period April 2025 to February 2026. Six audits were finalised, with five receiving positive assurance opinions. Three further audits were issued in draft, awaiting management responses. The full details of the audit progress can be found in the Public reports pack 16th Mar 2026.
