Financial Statements June 2023

Introduction from the Director-General

I am delighted to introduce the 2022-2023 Annual Financial Statements of the Commonwealth Foundation. The Foundation’s reputation for careful and transparent use of public funds continues to owe much to the diligent work of the Finance Team, and my thanks to the team for supporting the Foundation through another busy and exciting year. I am also grateful to our auditors for their continued guidance.

While the Foundation’s budget is not large, our work is complex and wide-ranging, requiring a full suite of financial services and expertise. Over the past several years we have sought to take advantage of changes in our operating environment to introduce better systems and processes: freeing up our scarce and precious human capacity to enable time and space for the strategic and long-range thinking that is as important in this area of our work as it is across our programmes.

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