Salo Expert™ matches senior experts in finance, accounting, and HR with organizations that need their help. Together, they tackle tough challenges, clean up messes, make strategic breakthroughs, and help every client get ahead.
Situation
When a client lost their CFO, they realized their accounting records were a mess and the team was in disarray. They needed someone to guide the accounting staff to clean up the records and make a go-forward plan for the finance team.
Solution
Salo provided an expert consultant with experience as a CFO and expertise in helping companies during a transition. The consultant spent time with each area of the finance team—talking through what needed to change and what work needed to be done. Then, the consultant empowered the employees to do the bulk of the work, reviewing their progress as tasks were completed.
Impact
While digging into the financials, the consultant and the client team found some strong variances within the financials, which lead them to an area where a former employee had been committing fraud.
The CFO consultant:
- Reconciled the accounts
- Reported the variance that was covered to the parent company
- Set up controls and reporting processes to prevent the same issue from happening again
The consultant also advised the parent company on the skillsets needed in the finance/accounting department going forward. As a result of the consultant’s help, the client now has a solid team and financial practices in place.
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