Finance function organisation & control

Our Finance Function Review (FFR) is a proprietary methodology that we have created which provides a holistic review across key focus areas of the finance function. Our work captures the strengths and weaknesses of the finance function, along with opportunities to improve. The FFR is fit for purpose for the business and its future prospects and can be done to short order in existing businesses and acquisition targets, pre or post completion. The output of the FFR is the identification and prioritisation of areas to be addressed with a clear, detailed, executable plan of action.

Our team’s background as finance operators as well as consultants gives us unique experience of how finance functions actually operate and can be improved. We take into consideration the current business, future prospects, appetite for centralisation/decentralisation, integration plans as well as approach to business partnering. The depth of our experience across different structures and understanding of roles and responsibilities within the finance function, means we can advise on the most efficient structure that works for your business.

We have a thorough understanding of the roles and responsibilities within the finance function in both financial accounting (FA) and financial planning and analysis (FP&A).

We can develop a scope, job description and person specification and assist with the interviewing of candidates.

We have developed a proprietary assessment tool for FP&A managers to ensure they have the appropriate skills for the specific role, combining systems knowledge and commercial insight. We run this assessment as part of any recruitment process.

We have strong experience in designing and embedding financial controls.

We typically make an assessment of financial controls, taking into consideration their materiality, impact of failure on the business and ease of remediation.

We design effective, fit-for-purpose controls that address these areas and embed them in the business, providing training, knowledge transfer, documentation and ongoing reporting.

We have good experience of designing and implementing risk management processes that operate across all functions of the organisation.

We understand that risk management is a process and not a one off event. We design efficient processes that are effective but not cumbersome for all functional areas of the business to use that are sufficiently streamlined, but insightful and so are taken seriously. We then help management to design and embed a reporting structure so that the Board can monitor the critical risks within the business and ensure remediation plans are in place and remain current.