Review your firm’s financial management and performance to clearly demonstrate compliance with OFR. Ensure all key financial risks are recorded and managed appropriately; identify areas requiring improvement and highlight opportunities to improve financial performance.
Make recommendations covering areas such as:
- Financial performance compared to market norms
- Operation of bank accounts and payment systems
- Lock-up and financial cost of levels of debtors; disbursements and Work In Progress
FINANCIAL RISK REVIEW will:
- Fact find; speaking with your staff, review systems and documentation.
- Produce a report covering:
- Relevance and quality of financial reporting
- Financial performance
- Financial management including client monies
- Working capital management
- Other risk areas which impact financial stability such as:
- Indemnity claims; Cyber Security;Anti-Money Laundering compliance
- Highlight opportunities to improve your systems and processes
- Identify issues which require other expertise & recommend sector specialists
- Propose actions to improve cash & profit