Our Financial Year has just ended and, as part of our commitment to efficiency, our annual accounts have been generated and are available to view on our Easier-to-understand accounts page.
We are able to show our pre-audit numbers within a few hours of the end of our financial year due to the level of automation of our financial systems which brings a number of benefits:
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Accurate management information - On any aspect of our finances at any time
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Improved transparency - For management, governance and audit purposes
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Improved efficiency - Minimal administrative input to prepare the accounts at year end (data is entered most working days during the year)
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Swift production of our annual accounts - Within 24 hours of the FY end i.e. once the closing balances on our accounts are known the next day
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Assisting our auditors - Swift availability of our draft annual accounts to give our auditors maximum flexibility in scheduling their work
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Keeping stakeholders up to date – Providing donors, trustees and other stakeholders with timely information on our financial status and performance
A further benefit is we now have 'real-time' financials in our 'Easier-to-Understand' section of our financial information.
Note: We have posted this today, rather than on Monday 2nd July, as this year we have been completing other developments in our internal financial management system.