CFO Services & Management Controls

Quite often it is not possible for small and medium-sized companies to employ a full-time Chief Financial Officer. Outsourcing CFO responsibilities is a cost-effective way to focus on challenges facing your organization.

We provide accounting and business solutions targeted towards small to medium-sized businesses, including:

• Significant year-end adjusting entries
• CRA audit adjustment concerns
• No budget for a full-time bookkeeper
• Overloaded in-house accounting functions
• Lost payroll resources
• Lack of time for administrative work
• More time is needed to focus on running the business
• Outdated accounting software
• Desirous of leveraging cloud-based systems
• Preparation of budgets for cash flow and profit planning purposes
• Monitor and assess the performance of the business to budget and industry ratios
• Risk management services
• Strategic long-term cash flow and tax planning

The benefits of utilizing part-time CFO services include:

• Manage day-to-day accounting issues
• Improve business decisions
• Free up valuable time to focus on priorities to grow business
• Access reliable, current accounting software solutions
• Operate with increased flexibility by accessing your data from the cloud

More streamlined accounting functions reduce costs and increase efficiency and profitability allowing you to focus on your business practices.

Internal Controls

At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

What we do for you...

• Implement segregation of duties so that duties are divided, or segregated, among different people to reduce the risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
• Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
• Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
• Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
• Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
• Documenting policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and the continuation of duties in the event of prolonged employee absences or turnover.

If you'd like more information about our CFO or internal control services please call us at 416-243-2096 or email us to set up a Free Consultation.