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12 Steps to Ensure Your Company Is Audit Ready

CFO Strategic Partners

A Year-Round Audit Strategy Is A Great Place To Start Insights from Acclarity Accredited to Small-to Medium Business Leader: Michele Himes For all but one day of the year, the end of your financial year is always approaching — sometimes year-end is still months away, other times year-end is right around the corner. Month-End Close.

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The Biggest Challenge Facing Accounts Payable

CFO Share

The biggest challenges facing accounts payable are chaos, maintenance cost, and fraud. Bring order to Accounts Payable. An AP digital transformation centralizes all bill receipts into one inbox, eliminates paper and associated data “blackholes,” and maintains clear audit records of all activity.

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Want to outsource your accounts payable? What to look for

CFO Share

Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. What to look for in an accounts payable company. Educate your team about fraud schemes. The post Want to outsource your accounts payable?

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The Key Differences Between a Controller and a CFO in Small Businesses

CFO Share

Education and Experience Controllers typically have an accounting degree supplemented with an optional CPA or CMA and 10+ years of experience in managerial accounting. CFOs , being a less technical role, rely less on their education and more on their 20+ years experience managing business financials.

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3 Types of Invoice Fraud and How to Prevent it

CFO Share

Accounts payable is the most common source of fraud in a small business. Both internal accountants and external hackers target weak AP processes to steal money since it is the business process most vulnerable to fraud. What are some of the common fraud attempts in accounts payable?

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Financial Oversight Guidelines for Nonprofit Boards

The Charity CFO

If your nonprofit requires an audit, the board should engage directly with the audit firm. Finally, the board should be aware of significant compliance requirements the nonprofit is subject to and ensure a system of accountability is in place. Review annual audit . Compliance.

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Your Ultimate Finance Department Checklist

CFO Simplified

From overworked staff accountants to controllers running month-end closes, a poorly structured finance, and accounting department can put strains on your business’ growth. Here’s a guide to set your accounting and finance department up for success as your business grows. Roles and Responsibilities. Bookkeeper.