Financial Health Checks


Over several years we have developed a detailed checklist which provides a basis for evaluating the financial controls and procedures of an organisation, and their effectiveness.

The checklist examines all areas of the organisation and allows us to build up a detailed understanding of what is working well, and what can be improved.

For example – ‘are regular management accounts prepared?’

As well as obtaining the answer to this basic question we would review the management accounts and evaluate their quality and usefulness – for example:

  • How promptly after month end were they produced
  • Were they distributed to the Finance Committee or Board or only operational management
  • Are they reconciled to the accounting system and are journal adjustments available
  • Do they contain a balance sheet, a cash flow forecast, an aged list of debtors and creditors etc.
  • Do they contain comparison to budget
  • Do they provide a narrative analysis or commentary
  • Do they provide a summary of KPIs
  • How useful do the recipients of the accounts find them – do they read them

Our Service

Using the information gathered from our meeting with senior staff and executive management, we will prepare a brief report which highlights those areas which can be improved, and makes recommendations for specific remedial action.

The report is set out in ‘traffic light’ format:

Red – an urgent priority for improvement
Amber – room for improvement
Green – working well

Please get in touch if you would like to obtain a quote for an independent financial health check.

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