Monday, April 16, 2007

Wanted: Money master, two days a week

When a small business calls on Allan Foerster or Steven Walker, it gets more with less.

Both men are chartered accountants, and both serve as temporary chief financial officers -- popularly known as "CFOs to go" -- for small businesses. They perform the duties of a full-time chief financial officer but on a limited or part-time schedule, working a few days a week for a small company.

Mr. Foerster, of Kitchener, Ont., has been a temporary chief financial officer for seven years and has his own one-man company, CFO 2 Go, Inc. He says increased scrutiny over governance and an emphasis on accounting responsibility, spurred in part by the Sarbanes-Oxley Act in the United States, has made it vital for even small businesses to have a chief financial officer.

But few small businesses can afford a full-time CFO, so hiring a temporary one is a more palatable option.

Wanted: Money master, two days a week

Labels: governance, small business, temporary CFO

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