HOW TO GET THE BEST OUT OF THIS CHECKLIST
This is a checklist of the things that should be taken into account when managing money. It allows businesses to assess how well they are meeting a number of key requirements, grouped together under broad subject headings.
Each requirement is presented as a statement (with its legal necessity shown in brackets afterwards). For each requirement, simply click on the left-hand tab that most accurately reflects your current position.
On a laptop or desktop computer, leaving your answers open will allow you to print and save your results at the end of the checklist. This facility is not available on mobile devices.


SECTION 1: Governance – Organisation

1.1: Overall responsibility for finance is clearly understood in your organisation (good practice).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

1.2: Your overall financial arrangements meet the legal requirements for trading (statutory requirement).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]



SECTION 2: Governance – Policy Framework

2.1: You have an anti-bribery policy in place with accompanying procedures (statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

2.2: You have an anti-money laundering policy in place with accompanying procedures (statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

2.3: Your use of credit meets legal requirements (statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

2.4: Your hire of goods meets the legal requirements (statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

2.5: Your Intellectual Property is fully protected (good practice).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

2.6: Your financial controls, systems and processes meet the standards set by sector regulators (statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

2.7: You have the necessary policies in place to demonstrate probity and competence when bidding for public sector and large private sector contracts (good practice, statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]



SECTION 3: Operations

3.1: You have appropriately trained and vetted staff to oversee and deliver financial operations (good practice).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.2: You have procedures in place to prevent financial theft (good practice).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.3: You have processes in place to minimise risk when offering trade credit (good practice, statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.4: You have the appropriate insurances in place and the risks mitigated by them are also subject to appropriate due diligence measures (good practice).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.5: Your use of payment card systems conforms to data protection standards (good practice).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.6: Your Terms and Conditions contain clauses to protect against all contractual risks (good practice).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.7: Your quotes and invoices contain all the required information (good practice, statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.8: Your prices are clearly set out and uniform, regardless of the payment method used (statutory requirement).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.9: When making offers or discounts you meet the legal requirements (statutory requirement if applicable).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

3.10: When providing price comparisons you meet the legal requirements (statutory requirement).

[fruitful_tabs type=”vertical” width=”50%” fit=”false”]

[fruitful_tab title=”We meet the requirement / it’s not applicable”]

You probably don’t need to take any further action.

[/fruitful_tab]

[fruitful_tab title=”I don’t know if I meet the requirement”]

You should undertake further investigation.

[/fruitful_tab]

[fruitful_tab title=”I don’t meet the requirement”]

You need to take urgent action.

[/fruitful_tab]

[/fruitful_tabs]

 



Thank you for completing our checklist. We hope that you found it beneficial.
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