Strong financial governance underpins strategic success but often the strength of a charity’s financial governance is only challenged when there is a crisis.
By reviewing before the crisis, charities can ensure they have the right procedures and processes in place that support the financial systems but also the delivery of the overall strategy. In recent times we have seen trustees being criticised for not meeting their financial responsibilities. Fraud in the sector is increasing. Charities and schools are becoming insolvent because financial strategies are weak and the sensitivities in financial models are not fully understood. I have been carrying out financial governance reviews for many years now and while the reviews often highlight many strengths, they always identify areas for improvement. I would be happy to talk to you about how a financial governance review could add value to your organisation. Alternatively you may wish to discuss specific areas that concern you. Typically I am reviewing how decisions are made and discussions evidenced, compliance with the Charity Code of Governance, creating and managing board diversity, financial training for trustees and creating financial resilience in charities and schools.