Sports & Entertainment

Resilience to Growth – how to navigate the risks

The Sports and Entertainment industry is a key focus and passion for JNW.  We understand the risks, performance pressures, need to actively manage stakeholder’s high expectations and the need to deliver consistent, high quality events and services. 

With the pandemic hitting, most sports and event businesses have been shut.  The recovery will be slow and impacted by COVID safe practices. In extraordinary times like now, more than ever, Directors need to work together with Management, to plot a sustainable course through COVID and beyond. 

Understanding and managing risk is critical to delivering the organisations strategy. COVID-safe planning for resumption of activities and events, re-forecasting funding models and re-igniting commercial relationships should be a key immediate focus. 

JNW can assist with you go from resilience to growth. 

Some of our relevant experience includes:

  • For the past 7 years, provided governance, risk and internal audit services to the Hawthorn Football Club;
  • For the AFL, conducted board governance and director effectiveness performance assessments for some of its Clubs. This included assessing the Club boards against JNW’s Eight Dimensions of Club Governance maturity model and providing recommendations to provide stronger, intelligent governance practices;
  • For over five years, whilst as a Client Services Director at Deloitte, Jeff delivered internal audit services to the Melbourne Cricket Club;
  • Recently completed an environmental scan of select financial controls for Badminton Australia;
  • For the City of Melbourne, reviewed event management procedures used to manage the AFL Grand Final parade, New Years Eve Celebration and Moomba event risks
  • For Vegas at Waverley Gardens, and WestWaters Hotel & Entertainment Complex, the second largest entertainment venue in Victoria containing a 4.5 star entertainment complex with 90 gaming machines, 98 room hotel, a la carte bistro, café, sports bar and function rooms, conducted several cash handling and general operations internal audits;
  • Assessed the operating effectiveness of the control framework for Bayside City Council associated with events such as Bright n Sandy Food and Wine Festival, Resonance Music Concert Series, Farmers Market, Sandringham Fair and Christmas Carols in the Park.

Examples of our valuable Club and event management experiences are detailed below

AFL

  • Created a Board Governance and Director Effectiveness Performance Assessment survey
  • Board performance assessment for a major club

Hawthorn Football Club

  • Reviewed the governance structures, including board and sub-committee charters
  • Governance assessment of the Integrity and Compliance Committee
  • Since 2013, provided internal audit services
  • Financial controls health check over membership, sponsorship, corporate sales, merchandise, finance, IT controls, the Box Hill Football Club and major operating assets
  • Assessment of merchandising controls at the HawksNest stores, online store and game day outlet

Melbourne Cricket Club

  • Jeff, whilst at Deloitte, managed the delivery of the internal audit program for over five years
  • Review of the IP governance framework
  • New membership system’s implementation governance
  • Assessed numerous event day processes, including the National Sports Museum and Yarra Park carpark
  • Facilitated biannual event day threat risk and control assessment workshops

WestWaters Hotel & Entertainment Complex

  • Conducted several cash handling audits, covering gaming, food and beverage, functions and accommodation bookings
  • Purchases rebate audit
  • Reviewed payroll transactions to confirm compliance with award rates and appropriate recording and calculation of overtime, annual leave, sick leave and Time In Lieu

Vegas at Waverley Gardens

  • Evaluation of cash controls over coin and cash note box clearance, gaming revenue, bar sales, cash storage and bank reconciliations
  • Liquor licence compliance
  • Security and safety controls assessment, including OHS risks, CCTV effectiveness and premise security and emergency management procedures

Moomba

  • Assessed Moomba’s ticketing system and cash collection processes

Badminton Australia

  • Environmental scan of select financial controls covering bank, accounts receivable, accounts payable and payroll

Fairway Hostel

  • Payroll financial controls environmental scan

Victoria University

  • Pre and post implementation review for a major upgrade of the student management system

RMIT

  • Developed a strategic Market Opportunities paper as part of the University’s VET Growth Strategy
  • Provided strategic input and financial modelling for a number of business cases for new online learning products