10 Reasons for Good Charity Governance
Good Governance in Charities This blog is for chairs, trustees and charity CEOs who want to understand the ...
Strong finances and good governance are essential for every organisation in the public, private and third sectors.
When finances or governance (or both) are weak, that can cause problems.
As a Member in Practice consulting firm of the Chartered Institute of Management Accountants we specialise in working with boards to embed strong finances and good governance.
When did you last review your business finances?
If you’re like so many other business owners or directors you probably rarely if ever really step back and have a cold hard look at your business finances.
Usually due to a lack of time, with so many other pressures.
And yet when something goes seriously wrong with your finances, it can have major implications. Weak finances can impact sales; gross and net profit margins; costs; cash flow; pricing; funding and much more.
So why wait for something to go wrong?
Business Finances – Top 5 Tips for 2024
We believe that all business owners should periodically step back and review your business finances – start today with our Business Financial Review and find out what’s good and working and what you need to improve.
So how do you ensure your business has strong finances?
We often meet business owners who don’t know where to start.
While some may have a good working relationship with their accountant, these busy professionals are often tied up in compliance issues like tax and company returns.
And like many business owners you may not have all the necessary financial skills to do this on your own.
At Admor Business Solutions we enjoy working with proactive business people who want professional help to independently review your business finances. We enable you to identify areas for improvement and implement practical solutions that will materially strengthen your business financial management and performance.
Business Financial Reviews - practical and effective
Charity board reviewing governance online
When was the last time your charity board carried out a comprehensive review of your governance?
Charities are expected to carry out a corporate governance review every year. And larger charities should complete an external review every three years.
As a trustee, you will know the critical importance of maintaining good governance standards. You have legal obligations to do so as well as personal responsibilities to support the cause that you believe in. And you want to ensure that the public and other key stakeholders have trust in what you are doing.
Good Governance Tip 1: Complete your Annual Governance Review
But when did you last review your governance?
Not just checked your bank account or reviewed your complaints register. Or asked your accountants if they found anything adverse from the annual independent examination or audit.
When did you last sit down with your other trustees and review your overall governance arrangements methodically against the Charity Governance Code Principles?
10 Reasons for Good Charity Governance
Often the problem is that trustees and senior management aren’t sure where to start with a governance review.
Some use paper checklists but these can be time-consuming and confusing. And external consultants can be expensive.
We offer a unique and innovative solution. Our charity governance reviews are comprehensive and save considerable time and money by using our own bespoke online Charity Governance ReviewTool.
We provide a free preview of the Charity Governance Review Tool so you can see how it will add value to your charity.
Access a full section of the Charity Governance Review Tool with no need to provide your payment details.
See how your voluntary board can self-assess your governance arrangements (face to face, online via Zoom or MS Teams) and improve your charity.
Or we can facilitate the review with your board, you choose.
Here at Admor Business Solutions, we tailor our other services solutions to match your needs.
Improving cash flow and profit or return, getting the most from your bookkeeping or developing your plans and forecasts – we have the solutions for you.
And when you need an independent professional to share your business challenges with, we’ve got that covered too with our 1-1 mentoring, training and investigative consultancy.
Contact us now for an initial, no obligation discussion to see how we can help you improve your organisation.
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