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Practice Advisory Boards Service

Overview of Practice Assessment blue banner,.

What are Advisory Boards?

Advisory Boards are being established by small to medium practices on an increasing basis. Advisory Boards can also be known as advisory panels, advisory committees or advisory councils. Advisory Boards assist in creating a profitable business model that is robust enough to withstand adversity and capitalise on opportunities. 

Why? Decision-making capacity and responsibility rest with the practice owner (as opposed to a formal board of directors where liability and responsibility ultimately rest with the whole board). Although members of Advisory Boards act with due care, they are not fiduciaries charged with fiduciary duties or responsibilities. 

Typically, the practice owners are looking for:

  • Challenges to their thoughts
  • Strategy assistance
  • Co-ordination advice
  • Business improvement suggestions
  • Policies & procedures establishment
  • Governance & compliance
  • Commercial Vs technical input
  • Outside the business input

Members of the Advisory Board usually include a mix of:

  • The owner/s
  • Key personal
  • Accountant, legal or other advisors
  • Trusted business associates
  • Family members who have experience in the business but have retired/stepped aside.

Benefits of Practice Assessment blue banner,.Clients who have established Advisory Boards realise the following benefits:

  • Improved focus of the strategic priorities that deliver growth.
  • Implementation of innovative business solutions.
  • Quarantining time for working on the business instead of continually being dragged into the day-to-day operations of the practice.
  • Developing a governance culture where business policy and compliance obligations are established and achieved.
  • Improved governance culture where system and execution are designed and monitored.
  • Developing and continuously review the business plan.
  • Increasing the professionalism and accountability of the business.
  • Implementing business case methodology that articulates the tangible and intangible business initiatives.
  • Implementing performance measures, including key performance indicators.

Service inclusions for a Practice Assessment blue banner.

Brentnalls SA Advisory Board services offer a range of supporting measures that provide new perspectives, challenge your thinking and provide financial understanding where needed. One of our professional advisors will assist in 

setting up an Advisory Board which will provide:

  • Policies & procedures established,
  • Governance & compliance,
  • Commercial v technical input,
  • Input from outside the business, and
  • Giving guidance on increasing the professionalism and accountability of your business.

Learn more

Helping practices achieve their goals is our passion. Our strength is in our dedicated professional health team ready to support your journey. Make the time today to book an appointment.

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Our Services

Our services go beyond compliance to find out more about your goals, your priorities and establish plans to grow and protect your future wealth. We will take the time to listen, ensuring we meet your goals, as well as guide you so you have a better understanding of the financial decisions being made. Our services include:

Accounting & Tax
Business Advisory
Wealth Creation & Preservation

Our People

Our Partners & Principals want to be part of your team that drives your future success, that provides you with solutions to your challengers. More importantly, who listens and knows exactly where you are going and what you want to achieve financially. 

"Helping you achieve your dreams, is our passion, and our strength is in our dedicated professional team."

 

News & Resources

Our priority is to ensure your kept up-to-date on trends, industry legislations, accounting and tax updates, business advisory information, superannuation and much, much, more. All of which, may have an impact on you and your business. Our resources provide additional supporting information in the following areas: 

Newsletters
Fact Sheets
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COVID-19 - Information Sheets
COVID-19 - Brentnalls SA Response

Our Location

255 Port Road
HINDMARSH SA 5007

PO Box 338
Welland SA 5007 

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P: (08) 8241 8444
F: (08) 8241 8488

E: [email protected]

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