Use this agenda with the people responsible for financial oversight. It is a discussion aid, not an audit program or a substitute for advice from your accountant. Record the reporting period, reviewer, and follow-up owner.
Prepare the information
- Confirm bank reconciliations are complete and reviewed by an appropriate independent person.
- Gather the current statement of financial position, activity report, and budget-to-actual report.
- Identify restricted funds and any restrictions that affect available cash.
Discuss the changes
- Compare actual income and expenses with the budget; explain significant differences.
- Review near-term cash needs, outstanding receivables, and upcoming obligations.
- Discuss unusual transactions and confirm the required approvals are documented.
- Check that financial responsibilities are appropriately separated, with compensating review where staffing is limited.
Close the loop
- Record questions, agreed actions, owners, and due dates.
- Refer concerns to the board or appropriate committee under the organization's procedures.
- Store the reviewed reports securely and revisit open actions at the next review.