We are pleased to introduce our Auditing the Voluntary Funds in Private Funds Manager (PFM) training course — a practical, structured programme designed to equip participants to carry out a thorough and fully independent audit of a school’s voluntary fund.

Voluntary funds support vital school activities such as trips, fundraising events and enrichment opportunities. Because these funds sit outside delegated budgets, they require proper independent scrutiny and robust financial oversight.
 

A fundamental principle of effective auditing is independence.
 

The audit should not be carried out by the person who manages or processes transactions within PFM. Instead, it should be undertaken by someone independent of the fund’s day-to-day administration, such as:

• A member of staff not involved in running the fund
• A governor or trustee
• A finance colleague from another school

Our course provides a clear, step-by-step framework for conducting this audit confidently and correctly. Participants are guided through:
 

• Ensuring the system is fully balanced
• Confirming bank and ledger reconciliations
• Applying appropriate sampling techniques and risk-based testing
• Reviewing income and expenditure procedures
• Checking trips and fundraising accounts
• Identifying and resolving suspense account issues
• Confirming funds are used within their proper scope
• Reviewing stock controls and backup procedures
 

This is practical training — not theory. Participants learn exactly what reports to run, what documentation to gather, what to test, and how to document findings professionally.
 

Professional Certification & CPD Recognition
To ensure credibility and competence, the programme includes:
✔ A structured knowledge check / short assessment
✔ A Certificate of Competence upon successful completion
✔ A digital badge for email signatures and LinkedIn profiles
✔ CPD hours to support professional development records
 

Certification confirms that the individual understands how to conduct an independent voluntary fund audit using PFM and apply appropriate audit methodology.
 

This allows participants to:
• Demonstrate professional competence to governors and leadership teams
• Provide clear evidence of independent scrutiny capability
• Strengthen their CV and professional profile
• Offer auditing support to other schools with confidence
 

An effective independent audit:
✔ Protects school leaders and governors
✔ Strengthens financial controls
✔ Reduces the risk of error or mismanagement
✔ Demonstrates transparency to parents and stakeholders
✔ Provides assurance that accounts present a true and fair view
 

Many schools are now developing certified internal reviewers (who remain independent of the fund administration), partnering with neighbouring schools to audit one another’s funds, or expanding their professional services to support multiple schools.
 

If you would like to build certified, independent auditing capability within your school — or gain recognised expertise in voluntary fund auditing — we would be delighted to welcome you onto the programme.​