Financial Governance for Charities - An Essential 1-Day Seminar: Dublin - 8 November 2017

Yes, financial governance can be a little bit intimidating. And yes, there is a lot to learn. But one thing even more certain than both of those factors is that you ignore financial governance at your peril.

That's why The Wheel has put together this tightly structured full-day of financial governance best practice training - to help you understand your current responsibilities in full and, crucially, to help you prepare for what's coming next...

Why Now?

The Charities Regulatory Authority is expected to issue clear requirements in relation to governance practice, activity and financial reporting, all of which will help to increase transparency and accountability.

Now is the time to start preparing...

Part I - Implementing the Statement of Recommended Practice for Financial Reporting (SORP) for Charities

Let our expert facilitator Roseanna O'Hanon (see bio below) walk you through the process and unpack the detail of - and the many benefits to be derived from - SORP. This very practical session will give you the knowledge you need to feel comfortable with 

Part I Focus:

• Understand how SORP will impact on charities and charity regulation
• Learn more about the SORP guidelines
• Understand what is involved in the implementation of SORP for charities.

Part II - Financial Governance in Action: Putting Key Principles into Practice

A highly interactive workshop lead by chartered accountant and governance consultant Brendan Lenihan. This session translates the sometimes scary topic of “Financial Governance” into practical, accessible language and tools for those who have (or who share) responsibility for this important area.  Take your Financial Governance practice to the next level, by exploring what best practice means in a range of practical scenarios.

Part II Focus:

Threaded through with real world examples of the best and the worst, we will look at 10 vital areas. In each of these areas you will be invited to grapple with how to resolve a typical ethical dilemma faced by the sector.    

1. What positive ‘financial governance’ means in a nutshell; 
2. How to respect legal structures and observe your Directors Duties;
3. The pitfalls of building and maintaining a proper system of internal control;
4. Creating good management and Board information;
5. How to get the best out of your auditors and your Audit Committee (if you have one);
6. A simple and effective tool for risk management;
7. Positively embracing whistleblowing;
8. The right balance in relation to financial transparency, disclosure and accountability;
9. Requirement of State funders;
10. The issues and challenges that are looming on the financial governance horizon.  

You''ll finish this engaging day of training with a new found sense of confidence and certainty regarding the financial responsibilities of your nonprofit.

Learning Outcomes:

• Understand how SORP will impact on charities and charity regulation
• Learn more about the SORP guidelines
• Understand what is involved in the implementation of SORP for charities.
• Identify the principles that underpin best practice in Financial Governance
• Use simple tools to develop best practice Financial Governance procedures
• Gain awareness of the steps that need to be taken to develop best practice standards in your organisation.

Facilitators: Roseanna O'Hanlon, Crowe Horwath & Brendan Lenihan, Navigo Consulting 

Brendan Lenihan is Managing Director of Navigo Consulting which specialises in strategy, business planning, governance and change. He is a Chartered Accountant and a former President of the Institute of Chartered Accountants in Ireland.  

His previous career experiences include being a Partner with Andersen (with whom he worked in the US and Ireland) and also holding executive roles in industry including as Group Finance Director of a multinational property company and also in one of Ireland’s largest nursing home operators.

He has held a number of non-executive roles in charities and not-for-profits, including currently as a Board Member and Chair of the Audit & Risk Committee of Good Shepherd Cork, which provides emergency accommodation, residential care, support and education to homeless and vulnerable women and children, has an annual operating budget in excess of €2m and is undertaking significant capital projects. 

Supported by:

 

Feedback from Attendees of The Wheel's Finance/SORP Workshops:

"As a charity ,we would be lost without the support from The Wheel.Well done today on a very informative session on SORP!" - Rainbows Ireland

Governance Code

The Code of Practice for Good Governance of Community, Voluntary and Charitable (CVC) Organisations [3] in Ireland. All community and voluntary organisations should make themselves aware with the Code.

This new Code has been developed by the sector and for the sector, with the express purpose of enabling CVC organisations to achieve the highest standards of governance in the running of their organisations.