CFO Series: Chief Reviewer (E2409043)

• Grasp that our role is to constantly review, listen and examine – both in our professional life and personal life – to create a deeper understanding of the value of our auditing skills.

• Understand why listening skills are crucial for all leaders and for any professional who audits others’ work. You will gain a deeper understanding of the psychology behind how powerful auditing can be when done by a more insightful and purposeful manager who wants to drive their skills.

• Fulfill your responsibilities to account for tax in your organization(s) and successfully navigate the diverse paths to minimize taxes.

• Understand best practices in effective system implementation and identify pitfalls to avoid.

Audits involve testing, review, examination and verification. We will illustrate how continuous auditing skills are valuable, all the time. Whether you’re an auditor or not, the role of a business leader IS to audit continuously! Better leaders have these skills.

Audits Begin with the Right Questions: Listen!

Technology has boundless memory and can store all the answers, unlike humans. Regardless, technology and AI cannot discern the right questions to ask. Asking the right questions separates successful professionals from mediocre professionals. This session will take a big-picture approach and redefine auditing in a broader perspective which will deepen your skills, perspective and know-how. We will illustrate three types of audits and dive into the most fundamental aspects of our daily work that needs constant attention, not seasonal treatments.

What We Can Do to Minimize Taxes: Without Danger

When stepping into a leadership role, you may not have been exposed to all the various tax issues. We will take a 30,000-foot view into corporate income taxes and other taxes with a focus on potentially lowering taxes. We will explore what and how to communicate with your external accounting firm. What is the value of proper fixed asset schedules and their crucial role? Depreciation, qualified business income and the employee retention credit will be reviewed. Keep a schedule and be prepared because at the end of day you will be held accountable and responsible for missed dates and missed opportunities and you may be given credit for taxes saved. Be prepared and aware of tax savings alternatives.

Successful System Implementations: Planning!

System changes are common, so why does seemingly every new system update or installation have multiple new problems? We will review the causes and effects, including a short-term outlook. We will focus on the best practices of successful organizations, specifically the one key task for success – proper planning. What are the steps to take? Which functions need to be involved? How do you reduce risk? These actions can be applied to small system changes, system upgrades or large ERP systems. Do not make the same mistake over and over. Learn from others who have paid the hefty price.