Articles written By Michael Corry
Distressed Balance Sheets – The Board’s Role
“Things are pretty tough in the market these days”. How often do we hear that? I’ve rarely heard anyone say over the years that “conditions are ideal right now”. Whether you are a commercial business or NFP organisation, staying in business is tough. Cash is hard to come by from government, donations or trading activity, so it’s inevitable that financial challenges arise from time to time in many organisations. In some cases, this can be an isolated hiccup, but in other, it is the sign of a more serious structural failing of the organisation’s finances.