Page 165 - E2 Integrated Workbook STUDENT 2018
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The finance function
External relationships
3.1 Professional advisors
Management must build relationships with a variety of professional advisors who will
be able to provide knowledge and advice to the organisation to aid decision making.
For example, Solicitors, Tax Consultants, Insurance Brokers, IT specialists or
Environmental Advisors.
Examples of when to use professional advisers
Sales are low
Profits are low
Profits are high
Entering into important contracts/projects
Your company is being sued
Bringing in new finance
Environmental reviews
Professional advisors can be very helpful to organisations and can assist them in
making strong strategic decisions. It is important that management foster good
relationships with a range of professional advisors.
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