I will provide your company with interim financial management resources to manage through requirements such as budgeting, support for year-end financial reporting, mergers and acquisitions, financial analysis and other special projects that might arise from time to time.
There are many reasons that companies can benefit from interim professional and accounting services including:
- Gaining specialized skills
- Ability to fill position quickly
- Increased flexibility
- Reduced administration
- Lower HR costs
- Increased productivity
- Lower risk than a full time hire
- Fill resource gaps (e.g. maternity leave)
The senior financial positions within organizations have always been extremely important, but in recent years the demands have increased dramatically. The introduction of C-SOX has added an additional level of complexity and responsibility, as has the Risk Management function that many companies are now implementing. Combine this with oversight for systems development, long-term financial planning, performance metrics, and employee incentive plans along with the traditional financial reporting and treasury responsibilities, and it is easy to see how the senior finance roles frequently require additional support for a wide variety of reasons. (Oh – did we forget to mention that International Financial Reporting Standards are on their way to Canada in the next few years?). Also, think about the seasonal “hot spots” at year-end, budgeting and the like, and the advantage of having an experienced person to assist with the work, or perhaps in an oversight or mentorship role.
With this in mind, it is a tremendous “value add”, when a company can have experienced and qualified financial managers to support their team on an interim basis. Ideally I would like to develop a long standing relationship with your company, to become familiar with your business, people and processes, so that we are able to jump in and out of interim financial management projects on an ongoing basis. However, often the interim requirements are one-time events, and that can be handled as well.
Please feel free to contact Edelkoort Smethurst Schein CPA’s LLP to discuss interim Controller and CFO requirements.