Suggested report contents to support contextualised and relevant performance reporting
| Prompt questions for directors | Suggested report contents | Additional contextual work for CFOs & CEOs |
|---|---|---|
| How confident do we feel with financial information? |
| Ensure consistency and comparability of reports so that directors become comfortable with the information and key terminology used |
| Do we feel comfortable asking questions when we don’t understand financial information? | Translation of key terminology and concepts into Aboriginal languages where relevant | |
| How could this information be best presented at our board meetings? | Work with the governance officer (or similar) to ensure the understandability of board reports | |
| What activities (outputs, outcomes) are important to us as measures of how effectively we have used our resources? | Aboriginal employment indicators, including casual, voluntary and training opportunities | CFO and finance team regularly spend time with directors, communities and beneficiaries to develop key relationships and support the cultural responsiveness of reporting |
| Other relevant indicators of community wellbeing outcomes | ||
| How can we extend our knowledge as our organisation grows in complexity? | Narrative, contextualised explanation of complex financial indicators, e.g. NPV, IRR, where used | Consult directors on their confidence with financial information during regular governance reviews |
| Budget for governance support, including translation services and cultural advisors and CFO cultural competency training | ||
| Do we have the information we need for strategic, future-focused decision-making? | Forward-looking financial information, e.g. future anticipated grant/royalty/internally generated income to contextualise major spending/capex decisions | Align financial reporting forecasts with strategic goals and timelines for achieving KPI/social impact objectives |
| Are we confident that we are on track with meeting compliance requirements? | Include a compliance checklist for ease of reference to the current status of compliance with regulatory, funder and taxation requirements | Ensure senior managers and directors regularly attend governance training to be familiar with ORIC requirements |
| Develop suitable onboarding guidelines for new directors |
| Prompt questions for directors | Suggested report contents | Additional contextual work for CFOs & CEOs |
|---|---|---|
| How confident do we feel with financial information? | Financial information presented visually (e.g. charts, graphs, infographics), not only tables of numbers Financial reports prepared and shared with directors in advance of meetings | Ensure consistency and comparability of reports so that directors become comfortable with the information and key terminology used |
| Do we feel comfortable asking questions when we don’t understand financial information? | Translation of key terminology and concepts into Aboriginal languages where relevant | |
| How could this information be best presented at our board meetings? | Work with the governance officer (or similar) to ensure the understandability of board reports | |
| What activities (outputs, outcomes) are important to us as measures of how effectively we have used our resources? | Aboriginal employment indicators, including casual, voluntary and training opportunities | CFO and finance team regularly spend time with directors, communities and beneficiaries to develop key relationships and support the cultural responsiveness of reporting |
| Other relevant indicators of community wellbeing outcomes | ||
| How can we extend our knowledge as our organisation grows in complexity? | Narrative, contextualised explanation of complex financial indicators, e.g. NPV, IRR, where used | Consult directors on their confidence with financial information during regular governance reviews |
| Budget for governance support, including translation services and cultural advisors and CFO cultural competency training | ||
| Do we have the information we need for strategic, future-focused decision-making? | Forward-looking financial information, e.g. future anticipated grant/royalty/internally generated income to contextualise major spending/capex decisions | Align financial reporting forecasts with strategic goals and timelines for achieving KPI/social impact objectives |
| Are we confident that we are on track with meeting compliance requirements? | Include a compliance checklist for ease of reference to the current status of compliance with regulatory, funder and taxation requirements | Ensure senior managers and directors regularly attend governance training to be familiar with ORIC requirements |
| Develop suitable onboarding guidelines for new directors |
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