Activity 4D To provide you with an opportunity to understand how to evaluate the effectiveness of financial management processes. Outline here how you would evaluate the effectiveness of your organisation's financial management processes. Activity 3D To provide you with an opportunity to understand how to revise budgets, as required, to deal with contingencies. Give an example of a contingency that could occur at your workplace and explain how you would revise the budget to deal with it. Activity 3E To provide you with an opportunity to understand how to maintain audit trails to ensure accurate tracking and to identify discrepancies between agreed and actual allocations. Give an example of how you could use an audit trail to identify a discrepancy in budget allocations. Activity 3F To provide you with an opportunity to understand how to ensure compliance with due diligence. Identify three areas of compliance you could monitor in your workplace and explain how you would ensure that regulations are being adhered to. Activity 4A To provide you with an opportunity to ensure structure and format of reports are clear and conform to organisational and statutory requirements. Identify a report used in your workplace and list all of your organisation's specifications here, including format and style. Activity 43 To provide you with an opportunity to understand how to identify and prioritise significant issues in statements, including comparative financial performances for review and decision making. How are significant issues in statements highlighted for priority attention in your workplace? Activity 4C To provide you with an opportunity to understand how to prepare recommendations to ensure financial viability of the organisation. Explain how you would use each of the following to determine the financial viability of the organisation: Cash flow Changes in business activity, including markets, goods or services traded Consolidation Expenses and overheads Labour costs, including decisions to move production to other locations or sites