Corporate Treasury Editing and Proofreading Services

Treasury is the function that is invisible until it is not. Nobody outside finance reads the treasury policy, right up to the morning a bank fails, a currency moves twelve per cent, or a covenant test is missed — and then the policy, the board paper and the forecast commentary are read very closely indeed, by directors and auditors asking whether the risk was understood and authorised. Treasury documents are written for a quiet day and judged on a bad one, which is an unusual and demanding brief.

We edit what corporate treasury functions produce — treasury policies and mandates, counterparty and investment limit frameworks, foreign exchange and interest rate hedging policies, cash flow forecasts and their commentary, liquidity and funding plans, board and audit committee treasury papers, bank relationship and facility documentation summaries, covenant compliance certificates and headroom analyses, cash pooling and intercompany funding documentation, treasury management system procedures, payment controls and fraud prevention procedures, credit rating agency presentations, and going concern and viability support material. Our editors check that limits are expressed unambiguously, that a delegated authority is stated with its exception route, and that forecast commentary distinguishes committed cash flows from expected ones.

The limits section of a treasury policy is the part that has to work when someone is under pressure, and it is where vague drafting causes real harm. A policy saying counterparty exposure should be "appropriately diversified across highly rated institutions" gives a treasurer nothing to apply at nine in the morning when a deposit must be placed. We rewrite these so each limit is a number against a defined measure — maximum exposure per counterparty as an amount and as a percentage of total cash, minimum rating from a named agency, maximum tenor — so the measurement basis and frequency are stated, so a rating downgrade triggers a written action with a deadline rather than a review at the next committee, and so the person who may authorise a breach is named by role along with the record that must be made. A policy written this way is also the document that protects the treasurer personally, which is worth saying to the board that approves it.

Everything you send is treated in strict confidence, including cash positions, facility terms and board material. We are editors rather than treasury or accounting advisers and provide no view on your policy's substance — but we can make it precise, internally consistent and usable by the people who must apply it under pressure.