CHANGE THE WAY FINANCE WORKS
CHANGE THE WAY FINANCE WORKS
CFO Insights Newsletter
"Almost overnight, CFOs in most organizations were tasked with setting up remote finance and accounting functions while creating diverse talent pools to support their businesses. Though many CFOs utilized contract and temporary workers as part of their staffing models in the past, the global pandemic has underscored the importance of leveraging a dynamic workforce."
– Charles Dong, Managing Director
The finance labor model of the future has passed a major test – and it was a massive one. The results of Protiviti’s latest global survey of CFOs and finance leaders show that finance organizations that leverage a diverse talent pool of full-time employees, contract and temporary workers, expert external consultants, and managed services and outsourcing providers are able to respond to external disruptions, such as the COVID-19 global pandemic, with greater speed and agility. Finance groups with this talent and resourcing approach also experienced fewer compromises to core finance processes during the early stages of the pandemic. In fact, for financial planning and analysis, 18% of CFOs and vice presidents of finance say their organizations rely on managed services providers and 29% leverage staff augmentation to support these activities.
CFO Dive article
Managing Director Chris Wright was quoted in a recent CFO Dive article, discussing how special purpose acquisition companies (SPAC) are different now than in previous years.
"Chris Wright, managing director with Protiviti, says SPACs weren't necessarily viewed as an ideal source of capital until recently."
On October 29, the PCAOB released an interim analysis report, along with two accompanying white papers, in which the board provides its analysis and perspectives on the initial impact of its critical audit matter (CAM) requirements and the insights learned from stakeholders.
In this Flash Report, we highlight the key findings the PCAOB identified in its report, and we present our own analysis of CAMs reported in more than 2,000 Form 10-K filings of large accelerated filers since August 2019. We also offer our perspective on potential consequences and areas to consider for organizations as the CAM requirements become effective for all companies.
Now that many companies have settled into the new normal — with staff working remotely and offices closed completely or operating below capacity due to restrictions from social distancing — the next looming danger is complacency.
In this blog, Managing Director Matthew Watson discusses how organizations are adapting their BCM plans to the current crisis and why it is imperative to continue to prepare for future disruption.
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