Summary of financial accounts

Lucie Risley, the CII’s Finance Director, gives a summary of the financials over the last year.


The CII group continues to move forward with its five-year transformation plan, with great progress having been made in 2017.

In the year, the CII invested in a wide variety of projects including, but not limited to, the relocation of the CII, upgrades of the internal infrastructure, cyber resilience and a RevisionMate upgrade.

The transformation programme saw £1.0m invested in staff-led initiatives to develop, research and commence implementation of the workstreams which underpinned our new strategic measures from 2017. The CII made a surplus of £0.5m before tax (2016: £1.7m) and a pre-transformation investment and one-off project surplus of £1.9m before tax (2016: £2.1m).




The transformation programme is a huge opportunity for the CII to become relevant to the wider profession with new products for changing and new markets, creating efficient ways of delivery and simplified journeys with increased engagement. The CII is evolving and modernising, and although it is proud to be under Royal Charter and ‘not for profit’, there is a need to consider the commercial element of the business in order to ensure that funds are invested efficiently and create value.

The key revenue drivers include learning assessments and membership, which help provide the CII with a stable platform in order to create its own momentum. Income is slightly higher in 2017 at £42.1m – this is a solid base to grow from, with the delivery phase of the transformation programme commencing in 2018.

Expenses are, in total, £41.6m – a £1.4m increase. This is primarily attributable to the £1.0m investment in the transformation programme. This is the first instalment of the strategic investment as agreed by the Board.

Overall, the CII continues to strive towards its vision and making the 2016 manifesto promise a reality.

The main pages of the financial statements are the Income Statement, Statement of Financial Position and Cash Flow Statement. These three primary statements provide a good view of the health of the CII and the ability to continue to invest in the transformation programme.



Click here to view the full Governance Report and Consolidated Accounts 2017