8 Carve-Out Workstream Charters: Finance, Sales, IT, Legal, Manufacturing, Divestment, HR, & Communications
Finance Integration Charter
In Scope
1. Budget Process
2. Insurance Coverage
3. Limits of Authority
4. Accounting Policies
5. Reporting, process & tools
6. Purchase Price Accounting Exercise
Out of Scope
Tax and structuring activities
Key Objectives
1. Develop an efficient and sustainable financial reporting process for both shareholders and management team for NewCo
2. Establish finance policies and procedure
3. Set the budget for NewCo
4. Accomplish initiatives in first 90 days
High Level Milestones
Pre-Close
Budget for First 6 Months finalized
Day 1 +Day 30
Limits of authority distributed to NewCo, Reporting process established
First 6 months
Align Insurance for all of NewCo, Internal Audit plan finalized, External Audit tender completed
Key Interdependencies
1. Limits of Authority set
2. Budget Process
Dependent on which Function
1. Legal
2. Commercial / Business Unit
3. IT
Exit Criteria
1. Sustainable reporting process is established ...
2. Budget set and communicated to all stakeholders
3. Critical policies and procedures (including limits of authority) established at the appropriate timeframe.
End States
1. Reporting requirements for Acquired Co. are established and working efficiently and effectively
2. Budget and forecast processes aligned
3. Audit tender processes complete ...