The error rating has been designed in-line with Ofsted Grading and shown below:
o Outstanding: 0 – 0.49% error rating An Audit grade of "Outstanding" confirms that the sample audited
demonstrates compliance with funding rules and regulations, with no / little errors and risk to SCL found. The provision showcases their commitment to compliance, which aligns with ESFA funding rules and regulations, ensuring transparency, accountability, and the best use of resources. Good: 0.5 – 3% error rating An Audit grade of "Good" confirms that the sample audited demonstrates compliance with funding rules and regulations, with small number of errors and risk to SCL found. While they may have minor areas for improvement, their commitment to funding compliance helps maintain a stable and reliable foundation within their provision.
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o Requires Improvement: 3.0 – 4.99%
An Audit grade of "Requires improvements" confirms that the sample audited demonstrates aspects of compliance with funding rules and regulations, medium amount of errors have been found and poses a high risk to SCL Education Group. Requires Improvement runs the risk of moving into inadequate, whilst the audit identifies aspect of compliance with funding regulations, addressing errors and risks is a priority to ensure fully compliant with regulations. Inadequate: 5% or higher An Audit grade of "inadequate" confirms that the sample audited demonstrates failure to meet essential requirements outlined by ESFA, putting SCL Education Group at significant risk. Immediate and comprehensive actions are necessary to rectify compliance deficiencies, ensuring the provisions meets compliance regulations, resolves any errors, and reduces risk.
o
As the audit schedule runs every 6 weeks, provisions may fluctuate between ratings, each provisions aim is to achieve Outstanding in compliance having no errors and risk to SCL Education Group. Where any rating received is below outstanding, all provisions must work on improvements to reach outstanding and remain a “outstanding” rating consistently throughout the contract year. Audit Findings Reporting At the end of each 6-week period or at request from executive / board members, an audit report will be created and released to key shareholders and provisions heads of. The audit report will summarise the findings of learner’s audit against each provision within the audit period, the financial risk and error rating.
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Sample below:
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