Category: Newsletters

Quality Assurance – Important? What is the Problem? Many firms, particularly smaller ones, have problems with controls or Quality Assurance (“QA”) over the “downstream” preparation of financial statements, footnotes and MD&A. Typically, “upstream” processes like AP, Cash, Journal Entries, etc. are strictly controlled, but limited staff and insufficient planning can lead to downstream QA issues.… Continue reading Newsletter – February 2017

Guest Article from iSiegel Consulting: Justifying the Spend on IT Security Overview Companies that underfund security intiatives wind up undermining a company’s ability to protect its information assets. The results can be catastrophic. IT leaders and CFOs need to understand the severity of the situation, specifically what the risks are and most importantly, how to present… Continue reading Newsletter – January 2017

Financial Transparency – A Case Study The following is a composite case of several organizations, and any resemblance to an actual client is clearly coincidental. Background: A client suffered fraud, misappropriated funds, and confused financial concepts. This caused lots of frustration at the board level. The audit report took almost a year to complete, and… Continue reading Newsletter – December 2015

New Relief for Private Companies? The private companies that suffer through the same accounting procedures as large public companies are now experiencing some level of relief. That relief is due to the FASB issuing Accounting Standard Updates (ASUs) that provide simplified accounting alternatives. The FASB defines private companies as entities other than a public business… Continue reading Newsletter – September 2015

Cyber Security White Paper Cyber Security: A fundamental component of Enterprise Risk Management (ERM) While cyberattacks have hit virtually every industry, the two industries most impacted by cyber security incursions, breaches and theft of data, are financial services and health care. Financial services and the medical world are inexorably connected to the world-wide internet. In… Continue reading Newsletter – April 2015

Fin Tech Case Study CFO Consulting Partners was engaged by a start-up Fin Tech Company to assist in setting up their entire financial infrastructure, including establishing and documenting GAAP and regulatory policies, establishing and documenting internal controls and procedures, and constructing the regulatory reporting process.  CFO CP also assisted in the preparation of US GAAP… Continue reading Newsletter – October 2014