discussion document on Finance Organisations

1. Finance organisation

3. Typical CFO organizational structure CFO Corp Development IR and Strategy Group Controller Finance & Planning Legal Tax and Treasury Invoicing Control and Transaction processing Planning Projects (systems Implementation etc)

7. Balance of team Cost reports Expense claims Supplier payments Budgets, forecasts Mgt team Board reports Group Analysis CEO/CFO/Shareholders Local compliance Statutory audit Local needs Too small for office Manager and accountant Language issues Group or Shared Service Local Joint ventures Financial Analysis

8. Lack of integrated systems Changes in cost centres or revenue lines of business through restructuring causes significant re-work New acquisitions or disposals Time consuming lengthy budgeting/ re- forecasting and audit process Not enough thought in budget or actual process to match budget vs actual – defined rules Invoicing process very manual Payroll process not sufficient detail to analyse by employee Lack of integrated banking to trace receipts/ payments Help, finance is sinking IT department does not want to help

9. Group Controller Typical standard processes

11. Split of transaction processing and control

13. Transaction processing Shared Service function