Interim Financial Control

Conventionally most companies have had full time senior management in their organisation. However in recent times with new technology and communications available, people can be involved in key decision making processes without a full time physical presence. In many cases a full time Financial Controller can be an inefficient use of an expensive resource. I have identified many businesses that do not need a full time ‘Head of Finance’ & I provide this ‘Interim Financial Control’ service but on a part time basis. In this role I will control the complete Finance function, recruiting and training junior accounting staff or bookkeepers as required and dealing directly with banks and/or investors. Typically I will report directly to the owner or CEO.

Range of roles and duties include

• Monthly reporting to the CEO/Board, developing financial controls and managing cashflow.

• Reporting and communication to bank, investors and other shareholders.

• Budgeting, forecasting, cost reduction and cashflow improvement projects.

• Day to day operational activities, accounting system control and internal process management

• Dealing with external auditor, banking and investor requirements.

• Preparation of accounts for audit or non audited accounts for filing with the Companies Registration Office.

• Legal and tax compliance – including Corporation tax, VAT & PAYE returns.

• Meeting International accounting requirements, Stock Exchange and SEC reporting.

• Accounting system review and implementation of new systems

• Payroll and HR

• Fund raising due diligence.

• Company Secretarial Duties.

• Recruiting Finance Staff where necessary.

Top tips for Financial Control

• Manage cashflow and maintain future cashflow projections

• Prepare up to date and accurate management accounts.

• Have a budget and review monthly results versus budget

• Maintain a detailed sales pipeline.

• Have tight credit control

• Control purchasing and expenditure

• Maintain up to date accounts on a computerized accounts package

• Ensure all tax and legal filings and compliance are up to date

• Have at least a part time HR function and meet all your employer requirements.