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Accountancy firm HB&O has partnered with audit specialist Validera to address a shortage of external auditors in the education sector.
The collaboration, announced by the two Midlands-based companies, will combine HB&O’s experience in compliance, taxation and external auditing with Validera’s expertise in governance, risk, compliance, cybersecurity and data privacy.
Both firms stated that the partnership aims to increase competition in a market where education providers have struggled to secure external audit services.
The alliance will also offer sector-specific advice on funding rules, VAT, income streams and governance reviews.
HB&O has offices in Coventry, Leamington and Birmingham and is one of the region’s “largest” independent accountancy practices.
Meanwhile, Staffordshire-based Validera specialises in internal audit and works across both public and private sectors.
The companies, which are members of the DFK UK and Ireland group of DFK International, said the partnership could extend to the wider public and third sectors.
Lee Glover, director of Validera, said: ““We know the sector is struggling to find external auditors. We wanted to become a new player in the market and to add some expert competition to the marketplace.
“Failings in governance and financial controls can have disastrous consequences, as has been felt by colleges across the country, so it’s imperative that proper checks and support is in place. Our partnership exists to deliver on this.”
He added: “We are especially skilled in education funding and can help providers protect their core funding streams through deployment of specialist knowledge and robust assurance. Our team’s credentials in this area are supported by our Department for Education (DfE) funding assurance contract success.”
Mark Ashfield, managing director of HB&O, concluded: “We’re really pleased to be joining forces and sharing knowledge with Validera to take advantage of a big commercial opportunity, but also to continue to expand the range of bespoke services we offer.”
