Board Fundamentals: Financial Governance
Embrace your financial responsibility.
Workshop Description
Understanding the roles managers and board members play in an organization’s financial governance can be complicated.
This half-day session will differentiate between financial governance and financial management, introduce the board’s financial governance responsibilities, and discuss ways to effectively implement reliable financial management tools.
Walk away with confidence and a fresh perspective on how your board and Executive Director (or employees) can work together on proficient financial governance.
Suggested Participants:
Board members, executive directors/CEOs or senior leaders (i.e. Directors, Managers, etc.) of non-profit organizations who want to gain fundamental financial governance skills.
Learning Outcomes:
By the end of this session you be able to:
- Describe the importance of good financial governance in the not-for-profit sector
- Describe best practices and policies in financial management
- Describe the difference between charities and not-for-profit organizations and the most common areas of non-compliance
- Identify the financial governance responsibilities of the board
- Identify and understand key information presented on the financial statements
- Identify need-to-know CRA Rules and Regulations
Workshop Benefits:
- Identified strategies to implement current financial management best practices for your organization
- Increased clarity on the roles of board members vs. the roles of paid staff as they relate to financial management
- Implement meetings tools that support complicated and complex conversations at the board table
Workshop Topics:
- The Benefits of Good Financial Management
- Understanding key information contained in the financial statements
- Robust Financial Performance Management and Reporting System
- A Responsible and Accountable Internal Environment
- Important Canada Revenue Agency Rules and Regulations You Need To Know