MENTOR THE TREASURER PROGRAM

Transcription

1 MENTOR THE TREASURER PROGRAM MENTOR GUIDE Contents The CPA Australia Mentor the Treasurer Program...2 The mentoring relationship...2 Qualifying for the Program...2 Role of Mentor...3 Expectations of Mentees...3 Mentor toolkit...4 Where to get advice...5

2 THE CPA AUSTRALIA MENTOR THE TREASURER PROGRAM The CPA Australia Mentor the Treasurer Program is an initiative of CPA Australia inspired by volunteer committee members and developed in conjunction with Pro Bono Australia. The initiative complements the CPA Australia Corporate social responsibility strategy, which supports local communities and charities, with a focus on financial literacy and education". The primary goals of the Mentor the Treasurer Program are to help small, not-for-profit organisations better manage their funds, achieve financial independence and more easily find a suitable reviewer or auditor with a minimum of fuss. The Program aims to achieve this through the mentoring relationship, whereby the Mentor guides the volunteer Treasurer in the maintenance of sound financial records and the preparation of sound financial statements. Another important purpose of the Program is to provide an avenue through which CPA Australia members can donate their skills and expertise to valued community organisations. Your involvement as a volunteer Mentor is an essential ingredient for the success of the Program. Thank you for agreeing to be part of this important initiative and for your commitment to the community and to your profession. THE MENTORING RELATIONSHIP Mentoring is a mutually beneficial relationship between a less experienced person, the Mentee, and a more experienced person, the Mentor. The Mentor willingly passes their knowledge to the Mentee. Mentoring gives both the Mentee and the Mentor an opportunity to share experiences and to develop skills that will benefit them professionally and personally. Qualifying for the Program Mentors To participate as a member of the CPA Australia Mentor the Treasurer Program you must be a current member of CPA Australia, with CPA or FCPA status. You must be fully covered by professional indemnity insurance. This may be your own personal policy or you may elect to participate in the CPA Australia Professional Indemnity Program, which is provided free of charge to CPA Australia members who are undertaking pro bono work within the community. To be covered by the CPA Australia Professional Indemnity Insurance Program, you must opt-in via the Mentor application or by ing to: pii@cpaaustralia.com.au Mentees To qualify for support under the CPA Australia Mentor the Treasurer Program, an organisation must meet the following criteria: Be an Australian based not-for-profit organisation Have an annual gross turnover from all sources not exceeding $250,000

3 Organisations whose Treasurer holds an accounting qualification do not qualify for assistance under the Program. Role of Mentor Mentors are expected to undertake the following: Initiate the first mentoring session with the Mentee Be available for follow-up mentoring sessions at mutually convenient times and locations as required[stet] You should make your time commitment clear to the Mentee Treasurer prior to commencement Provide the Mentee Treasurer with the support documentation, including the Treasurer Guide and the Microsoft Excel-based sample cashbook, and ensure the Mentee Treasurer is fully conversant with their use Educate and encourage the Mentee to acquire the skills and knowledge to fulfil the role as Treasurer and member of the organisation's executive committee, including but not limited to: Good bookkeeping Correct banking procedures Record keeping Internal controls Presentation of regular reports (financial and management analysis and commentary if required) Presentation of annual financial statements Convey both technical financial skills and principles of good governance Bring to the attention of the committee any serious deficiencies in the management of the financial affairs of the organisation which may become apparent during the course of the mentoring process Maintain regular communication with the Mentee Provide the mentoring support free of charge Retain the position of Mentor to the organisation for one calendar year from date of appointment, unless unavoidable circumstances render this impossible Provide feedback to CPA Australia at the end of the mentoring assignment Your role as Mentor is to provide advice and assistance. You are not expected to do the work, or to accept responsibility for it. Expectations of Mentees Mentees are expected to: Be available for mentoring sessions at mutually convenient locations and times Ensure they become conversant with the processes described in the Treasurer Guide and as outlined by their Mentor Implement appropriate accounting processes and financial controls Maintain regular communication with the Mentor

4 Provide feedback to CPA Australia at the end of the mentoring assignment While Mentee organisations are under no obligation to implement the Mentor's recommendations, failure to do so may be sufficient cause to terminate the relationship, especially where serious breaches are not being addressed. Mentor toolkit The following resources are available to you via the Program webpage to help you fulfil your role as Mentor: Mentor guide Treasurer guide Treasurer cashbook (Microsoft Excel-based workbook) Treasurer audit checklist. Also as reference: The CPA Australia publication "Incorporated associations: reporting and auditing obligations December 2013". Check the CPA Australia website for the most up-to-date version The CPA Australia publication A Guide to Understanding the Financial Reports of Not-for-Profit Entities Rules and regulations Standard forms Notice of resignation - Mentor Should you wish to terminate the mentoring relationship within the stipulated twelve calendar month period, you are asked to do so formally, in writing, and to advise the Program coordinator. Notice of termination of Mentor Should the Mentee desire to terminate the mentoring relationship, they are expected to do so formally, in writing, and to advise the Program coordinator. File note - mentoring session Note taking of topics discussed at a mentoring meeting is a sound professional discipline and is encouraged. It is especially prudent where advice is provided in relation to a regulatory oversight Letter of advice - issue arisen Where matters come to your attention throughout the mentoring relationship, which, in your professional judgment, may involve a serious breach of good governance or financial management, you should bring these matters to the attention of the governing committee of the organisation. It is also prudent to keep a copy of your notification and to maintain written notes of all subsequent verbal discussions. You should ensure that you are fully conversant with the contents of these documents.

5 Where to Get Advice Mentor toolkit Mentor section of the Mentor the Treasurer Program webpage Program coordinator at the following address: For not for profits organisation a list of web links is included in the Treasurer guide Appendix 1