Private Equity Firm Sells Portfolio Company
Industry: Private Equity
Type of Service: Accounting & Finance Outsourcing
Background
A private equity firm desired to sell one of its portfolio companies. The company, with sales of $75 million, was a leader in the fashion industry. The incumbent Chief Financial Officer and Controller left at the start of the sale process.
Issue
The company could not hire another full-time Chief Financial Officer and Controller as it was actively engaged in the sale process. It needed two people for the short term who could work with its PE owner, the investment banker, the potential buyers, lenders and other stakeholders, and at the same time, continue to produce required financial information and to liaison with its auditors.
Preparing US GAAP Financial Statements for Review and Audit
Industry: Financial Services
Type of Service: Pre-audit
Issue
CFO Consulting Partners was engaged by a start up FinTech Company to assist in the preparation of US GAAP financial statements for a Review and eventual audit. The Company is a pioneer in its industry and needed the Review report to be included in its application for regulatory approval. The Company also needed CFO CP to prepare an accounting policy and procedures manual.
Finance Transformation for Professional Services Firm
Industry: Business Services
Type of Service: Finance Transformation
Issue
Our client, a 100+ professional, multi-office professional services firm was ending its affiliation with an International Firm. As part of the separation, our client was required to migrate off the International Firm’s infrastructure, including their Enterprise Resource Planning (“ERP”) and Billing systems, at a date certain (approximately three months from the time CFOCP was engaged). The client had selected a cloud-based ERP system and several add-in products to form the core of their new accounting infrastructure and had engaged the ERP vendor to assist with the technical aspects of the migration. However, our client realized that they did not have the depth of staff to complete the migration using their Finance resources. They hired CFOCP to manage and execute the migration on a day-to-day basis, driving project planning and execution; ensuring that all tasks were completed on a timely basis and existing Finance resources were used as efficiently as possible.
Nonprofit CFO Monthly Board Presentation
Industry: Nonprofit
Type of Service: Planning & Analysis
Issue
A new CFO joined at non-profit educational institution, and she found it very time-consuming to produce the monthly financial presentation to the board. Due to its complexity, she was the only one in the department who could produce the report. Finally, many of the reports contained errors, and there was no time for analysis.
Interim Controller for Year-end Audit Process
Industry: Financial Services
Type of Service: Accounting & Finance Outsourcing
Issue
The Controller of a $1 billion (in assets) mortgage finance company departed at the beginning of its annual audit process. The audit, however, could not be delayed. The company needed an Interim Controller who could come up to speed quickly, manage the accounting function and lead the year-end audit process.
Nonprofit Audit
Industry: Nonprofit
Type of Service: Pre-audit
Issue
The CFO of a nonprofit desired to mitigate a number of accounting weaknesses identified by its auditors, and wished to have the audit completed much sooner and more efficiently than in the prior year.
