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Modern organisations require strong and effective financial management and financial reporting processes, including, inter alia, a sound system of internal control. Despite this, many of those in key positions, be at the Executive level or on the Board or its Committees, do not have a formal financial background. At the same time, these key actors are charged with accounting for proper financial stewardship.
This training workshop is designed to support Board and Committee members and senior Executives to understand key concepts, processes and issues in respect of financial reporting and systems which support the finance function.
The areas to be addressed in the session will include:
What are the responsibilities of the Executive, of the Board, and of the organisation?
What information should the Board receive from the Executive?
How can a Board provide assurance that the financial statements meet requirements, such as those under the Code of Practice for the Governance of State Bodies (2016) or analogous codes?
What are the particular features of public sector and non-profit financial reporting?
How can effective financial management support an organisation?
What are the key issues and risks around finance that a Board member should be aware of?
What are the key features of a system of internal controls?
Dr Deirdre Bane
Deirdre is a Senior Finance Specialist in the IPA Governance Team, delivering Financial Management, Audit and Internal Control Training and assistance programmes together with consultancy services to various public, state and semi-state bodies, charities and not-for-profit organisations. Previous to her position at the IPA, Deirdre worked in education for over thirteen years as a Lecturer in Finance, teaching Financial and Management Accounting (including Financial Statement Analysis), Corporate Finance and Financial Management (Investment Appraisal), and Economic and Statistics.
Prior to her experience in education, Deirdre spent ten years in the United States, working in the financial services sector (including equity research and asset management). In addition, she worked for an independent consulting practice performing economic impact analysis studies, economic development planning, social research and analysis, and providing strategic planning services to government, non-profit and corporate clients in the United States.
Aidan is a Director in the consultancy, training and development directorate at the Institute of Public Administration, specialising in governance and financial management. The range of services provided within his area of responsibility incorporate consultancy, advice, facilitation, training and professional development programmes. He was formerly director of the professional accountancy and audit programmes at the Institute.
Aidan leads the Governance Specialist Team at the Institute, and co-manages the Governance Forum with Tom Ward. The spectrum of governance services delivered includes board evaluations; board and senior management briefings, workshops, seminars and facilitation services; reviews of risk management systems; audit guidance and reviews of internal financial and general control systems; and also governance compliance arrangements, policies and procedures.
In addition to his lead role in governance services, Aidan has also been nominated as a non-executive member to a number of board and committee roles over recent years in the public and state sectors. He is also a member of the Policy and Standards Board of the Chartered Institute of Public Finance and Accountancy, United Kingdom and former chairperson of the CIPFA Republic of Ireland Branch.
Majella is a Finance Training Specialist at the Institute of Public Administration and is a member of the IPA Governance and Finance Team. Majella delivers a range of services to public and state bodies and not-for-profit entities in the areas of finance, audit and risk. She is an experienced finance and accounting trainer and lecturer. Prior to joining the IPA, she was a Lecturer in Accounting and Finance at Dublin Business School.