John Mero delivers Financial Governance training for directors, trustees and officers.

The term Financial Governance distinguishes the role of the Directors from management’s role which is financial management. Governing Finances is among the most important of the directors’ duties, for the fundamental reason that finances are required to realise the organisation’s purpose, directors must ensure compliances are met and to generate a return to investors (including government). Whilst directors must ensure compliance, risk management and coverage of operational requirements, the greatest value the board can add is to ensure the successful execution of a long-term financial strategy that fulfils the organisation’s vision. This requires directors to meet their fiduciary responsibilities while identifying opportunities and taking responsible risks.

A typical Financial Governance training program includes:

  • The differences between Financial Governance and Financial Management
  • The Board’s role in Financial Governance
  • The legal obligations for which the Board is responsible
  • How to define and understand the organisation’s business model
  • How to read the three financial reports the Directors must receive
  • What to expect in sound financial reporting to the board
  • How to assess the resource potential of the organisation
  • How to plan revenue expansion and ensure successful execution
  • The main factors involved in financial risk, including threats posed by crime and how these can be mitigated
  • How to create a management culture committed to financial opportunity taking
  • Setting financial performance indicators for the CEO
  • How to structure the role and functions of finance and audit committees.

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