Improving Financial Understanding for Trustees - Online course

Duration: Half day course with breaks

Digital Book (pdf) included: Financial Governance: a gentle guide for the non-financial charity trustee

About

Trustees have numerous legal obligations in their custodianship of charities. One of he key ones is financial sustainability. This requires that Trustees understand the financial implications of the charity’s current and future operations, that they understand the associated financial risk, and that they have adequate reserves to safeguard the charity when required. In addition, they have the legal responsibility for formulating the year end financial accounts and reporting these to the relevant authorities

Finance however remains something opaque and often frightening for most people. A better understanding of finance, particularly how it helps set strategy, captures outcome progress and attracts support through the visibility of the financial accounts is a crucial skill for Trustees

This workshop explores various areas of financial governance and using easy to understand language and concepts helping to increase Trustee confidence with numbers, finances and reporting

Who should attend?

Trustees or those seeking to be trustees as well as anyone who is interested in better understanding strategic financial governance

Outcomes

By the end of the course, participants will be able to:

• Have a better understanding of finance and financial risk management
• Improve their understanding of reviewing and challenging financial information
• Have confidence in demanding answers and responses from internal and external finance support personnel
• Feel more confident about their ability to safeguard the charity’s financial future and to fulfil their legal responsibilities for financial accountability and reporting
• Understand how to minimise personal risk by demonstrating adequate oversight and challenge of the finances

What will it cover?

• Governance – key areas of responsibility
• Improving communications
• Understanding areas of financial risk
• Trustee responsibilities in structuring financial management and reporting
• Creating and supporting financial strategy
• Understanding and reviewing financial information
• Using common sense
• Understanding reserves, what thy are why you need them
• Trustee responsibilities for year-end accounts and the Trustee Annual Report

Trainer: Uday Thakkar, DSC Associate

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