CFO outsourcing

Every company despite its size, needs a financial manager. This function is usually performed by a director in the SME. This is owing to the fact that financial expert is rather expensive to be hired as well as he/she is needed once a week or once a month. However, this competence is easily attracted using CFO outsourcing service. Finance United works with SME and assists them in raising funds, ensuring profitability and sales, coordinating investments and increasing shareholders’ value.

There is a certain potential for the conflicts of interest in large companies that hire directors – e.g., between shareholders and directors, and between directors and employees. After the collapse of several multinationals, such as, Enron, Adelphia, WorldCom, relevance of sound corporate governance has been widely recognized and adopted all over the world. Corporate governance – is “the system of principles, policies, procedures, and clearly defined responsibilities and accountabilities used by stakeholders to overcome conflicts of interest inherent in the corporate form.” (Rebecca McEnally and Kenneth Kim, „Corporate Governance“). In order to assure that directors are serving shareholders, global best practice recommends that at least three-quarters of board members should be independent. Therefore, it is useful for medium and large companies to “strengthen the board bench” with an independent finance board member from Finance United. Other companies are willing to ensure impartiality of audit committee or enhancement of financial processes.

Corporate governance issues and evaluation of financial reporting quality are found particularly useful for shareholders that do not actively participate in daily operations. Finance United may identify current and potential problems arising from the framework of government of the company.

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