Context of treasury
The business context
'The business context' is a core technical competency for treasurers identified by the ACT's Competency Framework.
Treasury should hold a pivotal position within the organisation to add most value and must have a detailed understanding of the business. External events that may impact on the business should be identified, solutions recommended (which may not be purely treasury) and communicated in a timely manner.
Accounting, tax and regulation
'Accounting, tax and regulation' is a core technical competency for treasurers identified by the ACT's Competency Framework.
Accounting rules, tax and other legislation or regulation may affect the financial markets accessed by the organisation, the activities undertaken by treasury and how such activities are reported. Regulatory requirements can change frequently so keeping up to date is key.