CFO Simplified

DECEMBER 26, 2021

As you audit your accounting and finance departments, you may find there are some key roles missing from your business that could be negatively impacting your company’s bottom line. Plus, with the additional education and experience, a CFO brings a strategic financial view to the company. Roles and Responsibilities. Bookkeeper.

Finance

CFO Share

APRIL 11, 2024

Reputable outsourced CFO firms adhere to best practices and technologies that elevate financial security, such as separation of duties, best-in-class password management, and continuous fraud education. The goal is to trick the bookkeeper into blindly entering and paying the invoice without scrutiny.

Securities

PYMNTS

SEPTEMBER 20, 2016

It starts with not only having a robust AML policy in place but also having those policies audited and reviewed by banking partners within that processor’s network. Flywire’s payment processing services are geared towards both Global Citizens and the institutions they send money to for educational and health purposes.

Compliance

PYMNTS

NOVEMBER 29, 2019

There may or may not be near-term proactivity by states to embrace such databases and educational efforts, said Peterson. But as it stands now, education is a hit-or-miss proposition. Audits may increase as states share data with one another about smaller firms that log sales in several locations. Then the scrambling begins.

eCommerce

PYMNTS

AUGUST 21, 2019

As he told PYMNTS, those steps include manual sorting of invoices, sales orders and supporting documents – and, more importantly, the manual entry of data from these documents. But they still need to be processed as a paper invoice.” But, as he noted, procure-to-pay processes involve manual labor across several steps.

Accounts Payable

CFO Share

MAY 31, 2023

Fraud risk is addressed through two best practices: Implement proper controls, segregation of duties, and process audits. Educate your team about fraud schemes. How will you audit bookkeepers to ensure compliance with controls? What segregation of duties will exist to prevent fraud?

Accounts Payable

CFO Talks

SEPTEMBER 17, 2024

A construction company with projects in different provinces can have a cloud-based financial reporting system that allows site managers to upload expenses and invoices in real-time, ensuring that headquarters can consolidate project costs without delays. Train your team to use these systems effectively and support them with ongoing education.

Financial Reporting

CFO News Room

NOVEMBER 2, 2022

RIA Fee Itemization And Surprise Custody Audits. Sends the client an invoice or statement itemizing the fee. This is why most advisers do not collect more than $1,200 in fees per client, 6 months or more in advance, so as to avoid the requirement to prepare and publicly report their balance sheet.

Compliance

Boston Startup CFO

APRIL 3, 2023

As a trailblazer exploring unknown territories, you must equip yourself with the appropriate knowledge and tools to make educated decisions that guide your enterprise towards success. This includes managing invoices, receipts, and payments, as well as reconciling bank statements.

Accounting

PYMNTS

AUGUST 24, 2017

More than half of accounts payable departments said they don’t partner closely with internal audit teams, while 82 percent have no connection to internal enterprise security teams. “To be effective, fraud controls and reviews must evaluate every supplier transaction,” he said.

Accounts Payable

CFO Share

JULY 19, 2023

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. AP risks are extensive, including vendor fraud, invoice fraud, bank account change fraud, and many more schemes.

Accounts Payable

CFO Share

MAY 25, 2021

What harm is it to slip in a $500 “freight” invoice to a new supplier who happens to share an address with Janet’s boyfriend? Routine payroll audits. We recommend educating your office staff about fraudsters and fraud schemes annually, including phone scams and IT scams like phishing. No one will notice that missing cash flow.

Auditing

The Charity CFO

NOVEMBER 10, 2022

Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact. As a result, the organization might not adhere to Generally Accepted Accounting Principles (GAAP), which can trip them up come tax time or during an audit.

Nonprofit

PYMNTS

FEBRUARY 14, 2017

million in funding last year, helps SaaS companies manage operations by providing financial management, auditing and reporting, analytics and other back-office services. The education part of the market was still going on.” The business model of SaaSOptics could, in part, be described as a B2B SaaS firm for B2B SaaS firms.

Financial Data

PYMNTS

OCTOBER 5, 2017

This type of technology, he continued, means financial executives can “offload a huge swatch of operational tasks” — those processes that are tedious and time-consuming, but necessary, like invoice processing, expense report auditing and so on.

B2B

Trade Credit & Liquidity Management

MARCH 11, 2025

Manufacturing: This is another industry that experiences its share of fraud, with supplier fraud, inventory manipulation, and falsified invoices being common issues. Regular Audits : Conduct routine audits of your accounts and financial practices to identify any discrepancies early.

Auditing

The Finance Weekly

JULY 31, 2023

Nicholas Boucher, a Finance Leader and Educator also participated in the webinar. His expertise spans financial analysis , budgeting, business partnering, financial storytelling, excel, and audit. He brought over 14 years of finance leadership experience from renowned firms like PWC and Tails across multiple countries.

Corporate Finance

CFO Talks

DECEMBER 26, 2021

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. CFO Talks is a brand of the South African Institute of Business Accountants. So a lot of it was leading back office finance for the company.

Manufacturing

The Charity CFO

FEBRUARY 23, 2022

I can send invoices to other companies in your name and start stealing money. Then you have the actual bad actors who go out and, and say, well, we’re gonna do this against people in healthcare, or we’re gonna do it in people against education. The education sector, which to a large degree is not for profit.

Nonprofit