At some point, organizations outgrow their systems. We come to realize our systems are no longer cutting edge, or efficient, or don't fit current services or products. Your team knows your business or mission, but while they are keeping things running in-house, they don't have the opportunity to see, use, evaluate, or learn other systems. Through my work as an auditor and CFO, I've had the chance to work with many organizations as they navigated changes in staff, operations, and systems.
Accounting doesn't happen in a vacuum. It's an integral part of business operations. The accounting environment includes banking, payroll, sales, purchasing, invoicing, billpaying, credit, collections, reporting, and more. When the systems work, they provide accurate financials that are useful to the leadership, tell the story of the operations, and support informed decision making. When that is a struggle, it's time to evaluate and identify beneficial changes.
An audit is not just about producing a set of financial statements. A valuable first step in an audit is understanding and evaluating the existing accounting processes and the internal controls. The evaluation requires meeting with leadership and the accounting team to document processes, hear what is working and not working, testing processes, and reporting back to management with examples, issues, and suggestions. This auditor mindset helps set the stage for an unbiased assessment of needs.
Once we've identified where changes are needed, it's time to explore options. Accounting systems and related applications are ever-evolving, becoming more integrated and automated, utilizing AI and virtual solutions. Working with multiple companies each year, I learn what systems they have adopted or tried. What worked and what didn't. I'm constantly trying out and learning new systems, new features or trying "hidden" features. And then sharing the knowledge as we go.
As an auditor for over 25 years and 10+ years of CFO work, my goal is the success of the organization first. When the organization runs well, the benefits are shared with the owners, leadership, staff, customers, and clients. Being an independent outsider and free of the organizational history, a CPA advisor can bring in a fresh viewpoint and new solutions, while preserving the relationships within the organization.
Listen & Learn - Meet with leadership and accounting team
Gather Information - Access current systems, reports, and outputs
Test & Observe- Sample transactions, outputs, observe staff usage of current systems
Report & Summarize - Share findings & recommendations
Refine & Adjust - With client input
Research & Selection - Explore options for change in procedures or systems
Implement & Training - Bring new system online, integrate, train staff
Follow-up - Monitor for 30-60 days, adjust as needed
Becoming a "CEO whisperer" is a common outcome in the career of an auditor or CFO. Learning about the confidential concerns of the leadership and talking through those topics requires a high level of trust and empathy. It's a privilege to be that trusted advisor.
If you'd like to get started on advisory services as outlined above, I'd love to hear your story.
Carol Sonnenberg CPA, A Professional Accountancy Corporation
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