Financial matters are not always top of mind for partners and directors whose interests are typically more invested in the core activities of the business. However, without accurate and up-to-date information on their cash position, some professional services firms might not recognise just how close they are to going bust.
Whether you are driven by the desire to obtain more value from your Governors meetings or improve your existing risk management then you should make sure you undertake a review of your strategic risks.
Within an independent school the responsibility for managing risk rests with the Board of Governors. Should a risk materialise such as breakdown in safeguarding or financial mismanagement, there is no doubt that questions will be raised regarding the
governance and risk management processes. The responsibility of the Governors is to seek assurance that all principal risks are managed effectively.
In order for your school to operate effectively you need to start with the right skills on your Board. When did you last undertake a skills audit of the Board? Do you have the right people to meet the school’s current and future challenges? How effective is the Board in meeting its objectives?
This self-assessment questionnaire will take approximately 15 - 20 minutes to complete. Each question asked requires a judgement to be made with regards to your school’s GRC arrangements.
Insight 4GRC is RSM’s proprietary cost effective and powerful suite of governance, risk and compliance software products that can provide your school with the tools needed to monitor and control performance, assess organisational risks and effectiveness of controls, track assigned actions, enable employee awareness and facilitate policy acceptance.
The academies sector has grown to become the most dynamic area of education. But with new opportunities comes significant risks, challenges and responsibilities, so selecting professional advisers with experience, expertise and a track record you can trust is essential.
From advising on forthcoming financial reporting changes in the new SORP and providing pragmatic tax solutions to advice on mergers and governance effectiveness reviews, our experienced education team will deliver practical solutions to support the development of your independent school.
Increased competition, with an open market for higher education services continues to drive the student experience agenda and related services surrounding quality through to the estate and infrastructure; alongside adherence to regulatory demands.