Fractional CFO and controller support
Some businesses need senior finance judgment but not a full-time executive. A partner firm can supply a part-time CFO or controller for a set scope. Fairview Audit connects you with that firm.
Fairview does not provide finance staff or perform the work itself.
What the work looks at
Fractional support fills a gap in your finance team. The scope depends on what you lack.
A fractional controller usually focuses on the books and the close.
- Monthly close and account reconciliations
- Accuracy of financial reports
- Accounting policies and internal controls
- Support for your external auditor
- Accounts payable and receivable processes
A fractional CFO usually focuses on planning and decisions.
- Budgets and forecasts
- Cash flow planning
- Reporting to owners, boards and lenders
- Financing and banking relationships
- Pricing and cost analysis
- Finance systems and team structure
Some engagements combine both. Others cover a short project, such as a cleanup before a sale or the move to a new system. [CONFIRM: a partner firm supplies and approves the support models it offers]
What you provide
Your partner firm will need to see where you stand today.
- Recent financial statements and the general ledger
- Your accounting software and a login or reports from it
- Budgets, forecasts and board materials
- Bank, loan and credit agreements
- Tax filings and correspondence with tax authorities
- Notes from your external auditor, if any
- An organization chart of the finance team
- A short list of your top finance concerns
Be direct about problems. A firm that knows about a late close or an unreconciled account can plan for it from the first week.
What happens after you submit a request
- You submit a request on the path that fits your business.
- A partner firm contacts you to learn about your business, your team and what you want finance to do.
- You agree on scope, working arrangements and who reports to whom.
- You share documents and introduce the firm to your staff and advisers.
- The partner firm provides its support and reports to you on progress and findings.
The engagement and any fees are between you and the partner firm under the firm's own terms. Because the firm works closely with your team, ask how it handles access to your systems and the confidentiality of your records.
Who it suits and how matching works
This service suits owners who still do the books themselves, bookkeepers who have outgrown their role, businesses between finance hires and companies preparing for an audit, a loan or a sale. It suits finance leads who need a second opinion on a hard decision.
Fairview offers three request paths: larger business, smaller business, or not sure or another need. There is no fixed size cut-off. Fairview matches each request by hand. Each path leads to its own form: larger business, smaller business or not sure. Your request goes to the matched partner firm, or to Fairview for manual matching on the not sure path. You then speak with the firm directly.
An independent partner firm that specializes in fractional CFO and controller support handles this work. Fairview Audit makes the match. We do not perform the review ourselves.Who does the work
Frequently asked questions
What is the difference between a controller and a CFO?
A controller directs the preparation of financial reports and often oversees accounting and budgets. A CFO is responsible for the accuracy of financial reporting and for long-term financial planning. Many small businesses need both in part.
Can fractional support lead to a full-time hire?
Some businesses use it as a bridge. Ask the firm how it handles a handover.
How many hours will we need?
That depends on your business and the scope you agree with the firm.
Does the firm make decisions for us?
It advises and prepares the work. You and your leadership remain responsible for decisions.
Related pages
- Services overview
- Financial statement audit and review
- Internal audit outsourcing
- Accounting and valuation support
- Accounts payable audit
Tell us what you need reviewed. We match you by hand with an independent partner firm. You keep your existing vendors.Find out what you are overpaying.