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Tracking Recent Financial Regulations and Guidelines Template

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Ensure your financial management practices are up-to-date with the latest regulations and guidelines in the medical education industry. This template helps Assistant Controllers stay informed and compliant by providing a structured approach to tracking, reviewing, and implementing recent financial changes.

Follow the step-by-step tasks to subscribe to update services, set alerts, attend webinars, update policies, and communicate changes to your financial team. Stay compliant and maintain the credibility of your financial management.

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Tracking Recent Financial Regulations and Guidelines in Priority Matrix

Stay updated with the latest financial regulations and guidelines in the medical education industry.

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Proposed Tasks

High Impact, Immediate Action

Task 1: Subscribe to Financial Regulations Update Services
Identify and subscribe to services that provide updates on financial regulations in the medical education industry.
Task 18: Communicate Changes to Stakeholders
Communicate changes in financial management to stakeholders, including the board of directors, staff, and donors.
Task 2: Set Alerts for Regulatory Updates
Set up alerts for updates on financial regulations and guidelines relevant to medical education.
Task 4: Review Recent Regulatory Updates
Review recent updates on financial regulations and guidelines.
Task 5: Update Financial Policies
Update organizational financial policies based on recent regulatory changes.

High Impact, Scheduled Action

Task 16: Review Audit Findings
Review findings from internal and external audits and implement necessary changes.
Task 17: Update Risk Management Plan
Update the organization's risk management plan based on new financial regulations and guidelines.
Task 3: Attend Financial Regulations Webinar
Participate in webinars focusing on recent changes in financial regulations in the medical education industry.
Task 6: Communicate Updates to Financial Team
Communicate recent regulatory changes to the financial team and provide guidance on implementation.
Task 7: Organize Training for Financial Team
Organize training sessions for the financial team on new regulations and guidelines.

Low Impact, Immediate Action

Task 14: Perform Internal Audit
Perform an internal audit to ensure compliance with new financial regulations and guidelines.
Task 19: Update Financial Software
Update the financial management software to incorporate changes in financial regulations and guidelines.
Task 8: Monitor Compliance
Monitor compliance with new financial regulations and guidelines.
Task 9: Document Compliance Checks
Document results of compliance checks for internal and external audits.

Low Impact, Scheduled Action

Task 10: Implement Corrective Measures
Implement corrective measures as needed based on compliance checks.
Task 11: Update Financial Reporting Process
Update the financial reporting process to incorporate recent regulatory changes.
Task 12: Revise Budgets
Revise budgets to reflect changes in financial regulations and guidelines.
Task 13: Update Financial Procedures Manual
Update the financial procedures manual with recent regulatory changes.
Task 15: Prepare for External Audit
Prepare for an external audit to verify compliance with new financial regulations.
Task 20: Review Financial Performance
Review the organization's financial performance in light of new regulatory changes.