Education

Home > Our industry expertise > Education

Industrial products & services

Technology, media and telecommunications

Mazars works with a diverse range of Education providers in independent and public sectors. Our aim is to provide fresh thinking in education.

Our education teams are based around the UK and work with Higher Education Institutions (HEI’s), Further Education Institutions (FEI’s) as well as Academies and Schools. Currently we are external and internal auditors to over 60 HEI’s and FEI’s as well as numerous other Institutions. Our Education Steering Group comprises a number of Partners and Directors around the firm who set our strategy as we continue our growth in the sector.

IFRS

The future of financial reporting for the Education sector is set to change in the not too distant future. The transition to full IFRS (‘Tier 1’) or the FRSME/ FRSPBE (‘Tier 2’) is potentially the largest accounting change that many Institutions will have had to face in recent times.

It is therefore important to look internally and consider how your Institute will meet the challenges of IFRS or the FRSME/ FRSPBE. Perhaps, initially, you will be thinking about (1) which tier you wish to apply (2) the resources that you have available to you (3) the impact of the transition including additional disclosure requirements and (4) how you are to manage the conversation process.

From our analysis, we believe that the impact of adopting full IFRS or the FRSME could be significant to the education sector with the main areas impacted including endowments, leases, capital grants and financial instruments, to name but a few.

Leveraging from our experience on conversation projects in the private and public sectors, we believe that leadership, communication and structured project planning are key to a successful transition.

Click here to see all our education publications.