Funds Governance

Finance For Non-Financial Directors

Tailored for your Organisation

Who should attend this Training Course:

  • Newly inducted Directors; non-finance literate Directors that sit on an Audit or Risk Committee; any Directors, aspiring Directors or Senior Executives with a non-finance background.

Learning Outcomes (Upon completion of this course, you will be able to):

  • Understand the financial role of a Director in an Organisation. Read and understand the key components of a set of Financial Statements in lay man’s terms. Differentiate between Internal Audit and External Audit. Be better equipped to challenge Management on the financial information put before the Board and to contribute more effectively to the workings of the Board.

Course Outline:

1.0 Directors Responsibilities

  • Director Statutory Responsibilities, Duties as a Company Officer.

2.0 Company / Sector

  • Stakeholders, Audit Environment, Users of Financial Statements.

3.0 Internal Audit Vs External Audit

  • The objectives of Internal and External Audit, Function / Role of Internal Audit Vs External Audit.

4.0 Components of Financial Statements

  • General Information: Statement of Board Members Responsibilities. External Auditors Report.
  • Statement on Internal Financial Control. Statement of Accounting Policies.
  • Income & Expenditure Account: (Explanation of income, Explanation of Expenditure, Bottom line).
  • Balance Sheet: Fixed Assets, Current Assets, Current Liabilities, Net Assets, Capital & Reserves.
  • Cashflow Statement:
  • Notes to the Financial Statements.
  • Approval of Statements.

5.0 Management Accounts / Board Financial Reports

  • Income & Expenditure – Variance Analysis, Balance Sheet, Cash-flow Status.

6.0 Recommendations for Directors

  • Knowing your Function / Statutory Obligation. Understand the Audit Process. Ask the right questions of Management

Trainer:

Donal Keane, a native of Cork, is a Certified Management Consultant and a Principal of Governance Ireland, with over 25 years experience in Corporate Finance working across a broad spectrum of sectors. He is an expert in the reading and interpretation of Financial Statements. Donal is also a Certified Assessor in Corporate Governance and advises Boards of Directors on effective Governance practice. He holds an MBA from Purdue University and a BSc in Finance from TCD.

Materials: PowerPoint Presentation – Handouts provided to all participants.

To book your place: Please contact us by email at info@governanceireland.ie

Bespoke Training for your Board: We also provide training tailored for your Board, in Finance, Governance and in Strategic Planning and deliver the course at a time and at a venue that suits you. Please contact us with any enquiries.