Financially successful organisations are underpinned by strong financial governance which is, in turn, complemented by robust expenditure controls. Given ongoing increased financial scrutiny within the NHS, organisations are under pressure to assure their Boards and the wider regulatory system, that effective controls are in place.
East Cheshire NHS Hospital Trust addressed this stakeholder requirement by commissioning MIAA Solutions to complete a review of existing financial controls with a particular focus on opportunities to enhance financial grip and control.
MIAA presented the findings to the Director of Finance and Deputy Director of Finance, with a summarised view of two areas where there are opportunities to gain additional grip and control of processes, plus a detailed report of the findings in all areas included in the review process.
The report enabled senior managers to gain assurance from the areas with good grip and control and address the areas where improvements are possible.
A report was compiled from the operational findings and presented to the Director of Finance.
Where controls were working well, the report was able to offer assurance to stakeholders and where opportunities for enhanced ‘grip and control’ were identified, possible solutions were discussed within the report.
The MIAA team received feedback on the commission which highlights the value of this review and the excellent service MIAA Solutions provide:
“By engaging MIAA it gave the Trust an unbiased view of the Trust’s current position. The MIAA team were extremely efficient and professional. The team delivered exactly what was discussed and the timelines agreed”.
Director of Finance, Estates and Planning at East Cheshire Trust.
For more information about our services contact Ken Jones, Director of Finance & Corporate Performance Team