The module begins by looking at what we mean by governance and compliance, with two clear definitions, in the context of finance and more especially, how they relate to financial management and an organisation’s accounting systems and financial controls.
The modules reviews the key stakeholders in financial governance and compliance: managers, lenders, investors and suppliers, and regulatory authorities.
The module describes how effective and successful organisations must demonstrate effective governance by implementing financial management controls and following financial reporting guidelines. Effective financial reporting includes: balance sheets, income statements and cash flow statements – these documents present a true and fair view of the organisation’s financial performance.
Basic accounting concepts are described such as accrual, materiality and aggregation, reporting frequency, consistency, comparison and accurate record keeping. Examples are provided of associated documents.
Finally, the module reviews internal and external financial audits, which require an in-depth examination of an organisation’s financial records, processes and procedures.
On completion of this course, learners will:
- Be able to describe the purpose of governance and compliance in finance
- Be able to identify governance and compliance processes relating to financial reporting, dealing with income, record keeping and audits
- Be able to describe the implications to an organisation of unresolved governance and compliance issues
The content of this course has been independently certified as conforming to universally accepted Continuous Professional Development (CPD) guidelines.
On successful completion of this course, you will be awarded a Virtual College certificate which you will be able to download and print immediately on completion.
This course will take approximately 30 minutes to complete, depending on learning speed.
This course is aimed at team leaders and professionals, including financial officers.
There are no specific entry requirements for this course.