Ms Shuter has been reinstated following a suspension, but is yet to return to the school.

BBC: Funds misuse school governors 'must act now'

"But anybody that looks at it as just a one-week phenomenon has missed the real point, " Shuter explains.

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Ms Shuter not declaring any business interests despite having close links to a number of suppliers used by the academy.

BBC: Funds misuse school governors 'must act now'

Ms Shuter was unavailable for comment but told other media that the fact she was being reinstated spoke for itself with regards to the allegations.

BBC: Head teacher Jo Shuter reinstated after misconduct probe

Ms Shuter, who had been in post since 2002, was named head teacher of the year at the 2007 Teaching Awards and appointed CBE in June 2010.

BBC: Head teacher Jo Shuter reinstated after misconduct probe