This assessment tool is a key element of the Standard and is designed to enable schools to benchmark their own performance against a nationally recognised statement of good practices as well as indentify areas for development.

For each element of the Standard, this assessment tool shows the evidence that governors and senior managers in schools should expect to see to confirm compliance with the Standard. It recognises that those undertaking the assessment will know from their own direct experience whether a number of the required components are in place. Thus, the questions are often phrased so that they require a personal view of the school's financial management arrangements and include the word "you".

The assessment will normally be completed by a number of governors and senior managers (seperately at first, but ultimately together) so a group consensus view can be arrived at later.