Two leading firms have formed an exciting new partnership to address a shortage of external audit specialists in the education sector.
HB&O, which has offices in Coventry, Leamington and Birmingham, has joined forces with Staffordshire-based Validera to offer external audit services to the education sector which has been suffering from a lack of competition. The partnership also brings together a range of added value services relevant to educational institutions beyond traditional internal and external audit services.
Validera is a specialist internal audit firm with deep expertise in governance, risk and compliance across both the public and private sectors. With a growing focus on emerging risk areas, Validera also brings valuable insight into cybersecurity and data privacy, helping organisations navigate today’s complex digital risk landscape.
With an established reputation and trusted client base, HB&O is one of the Midlands’ largest independent accountancy practices, with expertise in compliance, taxation and external audits.
The joint venture will see Validera and HB&O bring together their knowledge and resources to support organisations in the education sector, but collaboration will extend beyond this into the wider public and third sectors.
It will work with clients to ensure a cohesive audit service whilst offering value added services such as expert advice on funding rules and income streams, VAT advisory support and governance reviews, all delivered by highly experienced experts in the sector.
The two companies came into contact through their membership of DFK UK & Ireland, a National Group of DFK International, a global alliance of respected accounting firms. After further discussions, the companies realised they could extend their own service offerings to meet a clear gap in the market.
Lee Glover, Director of Validera, said: “We’re incredibly excited about the partnership we have formed with HB&O. We’ve got unique skill sets that, when combined, could make a real difference to education providers.
“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.
“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 at HB&O, said: “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.
“This partnership will utilise our expertise in external auditing and see us branch out further into the education sector at precisely the right time for us as a business.
“The partnership further highlights the value of our long-time association with DFK International. We’re now in a strong position to win new business together and become a major player in the external auditor space that exists in education.”
To find out more about the service HB&O offer, visit https://hboltd.co.uk/education-accounting-services/. For more information about Validera visit https://www.validera.co.uk/.
