Financial Management, Board Reporting & Governance

Financial Management

We can help you establish effective Financial Management by conducting an assessment, with recommendations of your current financial mechanisms, including Financial Risk & Controls, Forecasting & Budgeting, Monitoring & Reporting, Financial Procedures and Processes.

This will involve an evidence-based review with key members of staff and trustees to assess demonstrable data, process walk throughs, and discussions to explore known issues. This would include reviewing:

• Costs and Incomes that can be directly attributed to a project and those that may need to be ‘apportioned’, and the current method of doing so. 

• Friction points along existing processes including manual processes, unnecessary workarounds and redundant practices

• Areas of risk where control is absent, or where control is excessive.

• Existing financial information / Board reports (where available), plus any current project status report

• Delays in producing financial information including validation, and requirement for excessive reconciliation.

• The extent to which existing systems are being fully or effectively utilised or understood

We will develop an action plan to implement agreed recommendations with an assessment of the enablers which will require to be in place, e.g. documented processes and procedures, control mechanisms, proposed changed to structure and clearly documented guidance on the use of tools, templates and new procedures.