ESFA’s responsibilities include funding education and training for children, young people and adults; providing assurance that public funds are properly spent, achieve value for money for the taxpayer, and deliver the policies and priorities set by the Secretary of State; and intervening if there is a risk of financial failure.69 The ESFA plays a key role in the oversight of the academy sector, and in establishing the regularity framework within which academy trusts must operate. This framework includes the Academy Trust Handbook, the fund agreements in place with trusts, and the academies accounts direction. The ESFA informed us that it was also continuing to develop its assurance and intervention mechanisms, moving towards a more proactive engagement with academy trusts, for instance through its analysis of budget forecasts.70