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Trust in public company financials “can easily be taken for granted,” outgoing SEC Chair Gary Gensler warned in a statement on the audit watchdog’s budget.
The PCAOB has stirred up criticism since SEC Chair Gary Gensler shook up its leadership and called for sharper regulation of the firms that audit public companies.
A Guide to CFO Compensation for Small Business Owners If you’re a small business owner looking to improve financial strategy, gain control over cash flow, or prepare for growth, a Chief Financial Officer (CFO) can make all the difference. Hiring a CFO doesnt always mean bringing on a full-time executive with a six-figure salary.
Predictive Finance, Ethical Leadership, and Public Sector Innovation: Lessons from SAQA CFO Innocent Gumbochuma In the latest episode of CFO Club Conversations , we had the privilege of speaking with Innocent Gumbochuma, Chief Financial Officer of the South African Qualifications Authority (SAQA) and the 2024 Public Sector CFO of the Year.
At The Charity CFO , weve worked with hundreds of nonprofits (if not thousands)and reviewed thousands of financial systemsover the past decade. Its not just about clean books or audit prep. This guide is the foundation of our fractional CFO services and reflects the systems, processes, and mindsets we implement for clients every day.
As a CFO your influence extends beyond financial reports and budgets. Escalate concerns to the audit committee or external advisors if internal discussions don’t resolve the issue. Propose additional governance measures, such as third-party audits, to demonstrate transparency.
These are the three Ps that guide CFO Zach Johnsons data-driven approach to financial leadership. Precision involves rigorous financial processesclean audits, timely closes, and granular understanding of key metrics. These are the three Ps that guide CFO Zach Johnsons data-driven approach to financial leadership. []
In this episode of A Modern Nonprofit Podcast , Tosha Anderson sits down with Nancy Fussner, Director of Onboarding at The Charity CFO, to walk through the top five red flags that your accounting may be messier than you thinkand exactly what to do about it. And if your gut is telling you somethings wrong, it probably is. Get the free guide!
Members’ Profile: Anne-Marie de Bruin In this edition of CFO Club Africa’s Members Spotlight, we are introducing Anne-Marie de Bruin, a highly experienced finance professional and the freelance Financial Manager at AM Cross Country Consulting. Leadership and communication skills are equally important.
For a CFO, fluency in that language is no longer optional. While many CFOs focus on getting the numbers right, those who truly lead focus on getting the reporting right. Its not just about avoiding penalties or surviving the audit. As a CFO, youre not just signing off on spreadsheets. Documentation is incomplete.
What Every CFO Should Know to Protect the Business (and Their Career) You dont need to be an actuary or compliance expert to understand risk. But for the CFO, risk is anything that can derail strategic goals, interrupt operations, or eat into the bottom line. A failed audit. A tax penalty. A failed vendor.
Member Profile: Rajesh Bux In this edition of our CFO Spotlight series, we feature Rajesh Bux, a seasoned finance executive and strategic leader with deep roots in Africa’s telecommunications sector. He has developed advanced budgeting and project finance models and led large-scale system implementations to drive operational excellence.
Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.
Organizations that expend over $750,000 in federal funds (increasing to $1 million in 2025) are subject to a single audit. This audit goes beyond typical financial audits and examines programmatic compliance as well. The post What to Know Before Taking Federal Funding appeared first on The Charity CFO.
You may be technically excellent, have a sharp grasp of reporting standards, and maintain control of every budget, but if your ability to lead and think does not extend to your team, you are leaving the business exposed. A CFO who mentors intentionally protects the business, the function, and their own professional standing.
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.
Theresa Guest is joining The Charity CFO team in the role of Accounting Manager. Theresa is an experienced leader in accounting and financial reporting, budgeting, and analysis, with an extensive finance career in the healthcare supply chain industry. She lives in Shiloh, Illinois with her husband, Daniel, and sons, Byron and Brian.
This ensures accountability and makes audits or donor inquiries easier to manage. Master Your Budgeting Process Know exactly what your grants and funding coverand what they dont. Maintain strict budget oversight and ensure spending aligns with your organizations mission and restrictions. Download it for later.
Thats why one of the foundational principles of The Charity CFO Financial Blueprint is Accounting Team : Every organization needs a skilled accounting team , minimally consisting of an accounting associate or bookkeeper and a CFO or finance director. If you want to download this blueprint, click here. What Happens With the Right Team?
When building your back office, you may consider whether you need a financial controller or a CFO. The skills and responsibilities of these roles overlap, and to make matters more confusing, an underqualified CFO (yes, there are plenty out there) will perform similar to or worse than an excellent controller.
But ask any CFO who has led a turnaround, navigated a crisis, or rebuilt trust after a rough season, and they will tell you that the biggest momentum often comes from the smallest victories. Psychologically, small wins act as proof points. It is known for results, deadlines, reconciliations, and that long, uphill push towards year-end.
Members Profile: Julius Katanaka In this edition of our CFO Spotlight series, we feature Julius Katanaka, Head of Finance at Wazalendo SACCO Ltd, a seasoned finance professional with a strong accounting and strategic financial management background. I aim to transition from CFO to CEO or become a consultant.
Until now, Atlantix Partners (now Acclarity) had been structured as a network of companies, each continuing to operate under its legacy corporate brand: CFO Alliance (Florida), CFO Strategic Partners (Florida), Kaiser Consulting (Ohio), Stage 1 Financial (Texas), Grandin Solutions (Ohio), and JC Jones (New York and Georgia).
Without it, even the most brilliant CFO will find themselves patching up avoidable errors, defending late reports, and wasting energy on workarounds. Are decisions challenged when forecasts dont match operational realities, or is the budget treated as sacred regardless of whats changing on the ground? But they wont create commitment.
Inflation Rates : Rising inflation affects everything from material costs to employee salaries, so tracking it can help anticipate cost increases and plan budget adjustments. Build Scenarios, Not Just Budgets Traditional budgeting has its limits when the market shifts.
You dont need a big budget to build a strong employer brand. The Role of the CFO in Employer Branding Heres the part most people miss: this isnt just an HR function. Why This Matters for CFOs As a CFO, you’re not just managing numbers you’re managing risk, reputation, and the long-term resilience of your business.
Josh, former auditor at the National Audit Office and former management finance professional at environmental leadership group C40, is big on change – but not the sudden, dramatic kind. . We’ve successfully implemented a new reporting, budgeting & forecasting tool and are now looking at the next systems change.” . Contact Us.
Running the Numbers Without Running from the Truth No one sees the cracks forming in a businesss foundation quite like the CFO. This article unpacks what it truly means for a CFO to lead with integrity – not just in word, but in systems, signals, and strategic influence. You see the numbers before anyone else.
Finance leaders are now seeing generative artificial intelligence to have the most immediate impact on explaining forecast amd budget variances, according to Gartner, Inc. Finally, CFOs should audit critical data with respective owners before implementation, to decide what modifications must be implemented for use by a GenAI model.
Think of automated exception reports, audit trails, or simple dashboards that flag mismatches between systems. And as CFO, its your job to make sure your systems dont just capture datathey protect it. Budgeting processes where the numbers make sense the first time around because standardised inputs are used across all departments.
Members’ Profile: Thobile Dlamini In this edition of CFO Club Africa’s Members Spotlight, we are introducing Thobile Dlamini, the CFO at Eswatini Revenue Services. International Recognition : Awarded the prestigious Best Public Sector CFO in Africa (2023/2024) by ACCA.
Charlie Cheah , managing director, Esker Asia , believes that CFOs and in a bigger context, the Office of the CFO in Asia, face several challenges when integrating AI into financial systems, given the region's diverse technological landscape. "In Regulatory Variations: APACs regulatory environment for AI is still evolving.
These systems automatically flag discrepancies, reducing the chance of financial penalties and improving audit readiness. This means department heads can check their budgets, track spending, and make informed financial decisions without needing an accountant to explain the numbers.
Does the idea of a financial audit on your nonprofit leave you feeling nervous? For many nonprofits, a full financial audit can help ensure the accuracy of their financial recordkeeping. Luckily, not all financial situations require an audit. In some cases, a state may have no requirement for an audit.
Download the Article For nonprofits, audits are more than just a regulatory requirement–they’re a tool for safeguarding the organization’s mission and financial health. An audit helps improve an organization’s financial transparency, builds donor trust, and ensures compliance with regulations. Why is Your Nonprofit Being Audited?
Budget tracking is the process of monitoring your nonprofit’s income and expenses to ensure they stay within your planned budget. Effective budget tracking is essential to financial transparency, efficient resource allocation, and strategic planning for your nonprofit. But your budget shouldn’t be a “set it and forget it” plan.
Members’ Profile: Morgan Edevbie In this edition of our CFO Spotlight series, we are featuring Morgan Edevbie. What key skills should a newly qualified accountant develop on their path to becoming a CFO? What advice would you give to someone aspiring to be a CFO? Continuous development and relevance are key.
The internal audit function faced both declining budgets and a significantly expanded workload in 2020, according to Gartner survey of 299 internal audit organisations in 2020. The obvious implication, if the picture doesn’t become more balanced, is that audit leaders will have to make tough coverage trade-off decisions.”
‘ Passionate about the public sector ‘ Welcome to the CFO Club Africa podcast, where we interview leading CFOs from Africa and beyond. CFO Club Africa is a division of the Chartered Institute of Business Accountants, the professional body for business accountants, financial managers and chief financial officers.
Your board should be involved in reviewing and approving the annual operating budget. If your nonprofit requires an audit, the board should engage directly with the audit firm. Review annual audit . Spearheading communication with the audit firm and reviewing the audit prior to bringing it to the rest of the board.
As a business owner or chief financial officer (CFO), spreadsheets may be an important part of your financial forecasting, planning, and budgeting processes. Microsoft Excel is not designed to be a central hub for all of a business’s inventory, budgeting, and accounting needs.
Sandiso Gcwabe will join Wesgro as their CFO in 2023. Gcwabe faces the task of restoring Wesgro to clean audits. The official tourism, trade and investment promotion agency for the Western Cape last achieved a clean audit in 2018/19. The post A turnaround job awaits Wesgro’s new CFO appeared first on CFO Club Africa.
While it is common to find a chief finance officer (CFO) helming a large or multinational organisation, the costs associated with having one in-house can be a hurdle for smaller organisations. According to payscale , the average base salary of a CFO in Hong Kong is HK$1,351,820 per year. Hiring a CFO when money is the problem.
Just as important, how can CFOs help address sustainability objectives as part of their overall ESG initiatives? Nelson Lim , group CFO of ST Telemedia Global Data Centres (STT GDC) , spoke to FutureCFO to elaborate on how STT GDC is addressing calls for greater emphasis on sustainability in the drive for growth. Nelson Lim. “A
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