2B – ACCOUNTABILITY OF FINANCE PROFESSIONALS

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2B – ACCOUNTABILITY OF FINANCE PROFESSIONALS

  1. 1. - Key business partners (KBP) - Drivers for change (DFC) and/or - Leaders in accountability and transparency (LAT) ACCOUNTABILITY OF FINANCE PROFESSIONALS
  2. 2. “Prior to the SORP and the Charities Act 1993, there was no coherent reporting and accounting framework for UK charities. Charities had near total freedom in law as to how they reported to the public…The result was a standard of reporting which was condemned by commentators for its poor quality and an inconsistent mix of styles of accounts (ranging from cash accounting through to an ad hoc range of balance sheets and financial statements).” (CC website DG 15 01) ACCOUNTABILITY AND TRANSPARENCY
  3. 3. What do we aspire to? Finance Directors tend also to run: • Legal and governance • IT • Property • Trading logistics • Etc
  4. 4. We can make a Difference • Getting the best value for our beneficiaries • Putting our funds to best use • Managing the pension liabilities • NSPCC ChildLine merger
  5. 5. Flying Enabler Core Financial Control GOVERNANCE PropertyIT DFC
  6. 6. Case Study National Memorial Arboretum (NMA) A fully owned subsidiary of the Royal British Legion (RBL) but a separate charity
  7. 7. The Royal British Legion - NMA RBL - National Custodian of Remembrance • Armistice Day/Remembrance Sunday/Cenotaph (1st and 2nd World Wars) NMA - All year round Remembrance • Armed Forces Memorial. • Names on the wall since 1945 (Palestine)
  8. 8. NMA Project RBL full merger with NMA in 2011 I was appointed sole Trustee Management at the charity report to me £15m Development of Site – HLF funding Professionals running the project National Appeal to raise the funds
  9. 9. NMA Project Picture
  10. 10. ACCOUNTABILITY OF FINANCE PROFESSIONALS Summary • We all love to fly – be DFCs and KBPs • We are given other jobs to do • But fundamentally we are there to manage the finances and that’s our ultimate accountability

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