Financial Satements June 2021

Introduction from the Director-General

I am pleased to provide this brief introduction to the 2020/2021 Annual Financial Statements of the Commonwealth Foundation. My thanks to our stellar Finance Team for its usual diligent work under conditions that continue to be challenging. I also express thanks to our auditors, whose continuing guidance has been especially valuable and deeply appreciated.

This is the second year that the Foundation’s audit has been conducted remotely. After overcoming some logistical and administrative hurdles last year, we found ourselves well-positioned to capitalise on several advantages that remote financial administration offers – including the opportunity to share documents within our team and with our auditors almost instantaneously. Our financial management and record systems are now completely online: a move that has created real efficiencies in this area of our work. In accordance with the Foundation’s commitment to learning, we will continue to interrogate our performance – using our own insights, as well as feedback from others, to improve.

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