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Financial Assessment
Financial Assessment

Before you hire, restructure, or raise, know exactly where you stand.

A financial assessment is a focused, initial review of your finance and accounting operations, benchmarked against best practice. You leave with a clear, actionable picture of what is working, what is not, and what to fix first, whether you act on it yourself or bring us in to do it.

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GOALS AND TYPICAL OUTCOMES AT A GLANCE
COMMITMENT
A fixed-scope engagement, typically two to four weeks.
TYPICAL TRIGGER
A new engagement start, a board question, or a nagging sense something is off.
WHO DOES IT
A CFO and senior reviewer matched to your industry.
WHAT YOU GET
A written assessment with prioritized, actionable recommendations.
This is usually how a new client relationship with us begins, not a sales pitch dressed up as a review.
WHEN THIS IS THE RIGHT CALL

You are probably a candidate if one of these is true right now.

If the assessment turns up more than a client can absorb alone, that becomes the scope of an engagement, not a surprise later.

01
You are about to engage us, or another finance leader, and want a baseline before work begins.
02
Your board or investors have asked a question about your finance function you could not answer with confidence.
03
You suspect there are gaps in your close, controls, or reporting but do not know how large they are.
04
You want an outside, objective view of your finance and accounting operations before deciding what to change.
What do our Financial Assessment services include?

A structured review of how your finance function actually runs today.

Diagnostic first. The fix, if you want one, comes after.

01

Process review

A walkthrough of your close, reporting, and controls against what best practice actually looks like at your stage.

02

Gap identification

Where the function is exposed, whether that is controls, staffing, systems, or reporting discipline.

03

Prioritized recommendations

A ranked list of what to fix first, sized to effort and impact, not a generic checklist.

04

A path forward

A clear recommendation on whether the fix is self-directed, a project engagement, or ongoing fractional support.

WHO LEADS IT

The same CFOs who would do the work, doing the review.

The person who assesses your finance function is the same caliber of Big-4-trained CPA who would run it if you asked us to. The recommendations reflect what we would actually do, not a generic audit checklist.

MEET THE LEADERSHIP TEAM →
We wanted an honest read before we committed to anything. What we got back was specific enough to act on the same week.
From a financial assessment engagement, prior to an outsourced accounting build
COMMON QUESTIONS

Straight answers, before you ask.

What does an interim CFO do?

An interim CFO works with your CEO, management team and board on the real decisions, with the same authority and scope your permanent CFO would carry. That means strategic counsel to the CEO, oversight of accounting and the supporting functions, reassurance for the board, investors, banks and auditors during a leadership change, and a clean handover to the permanent hire.

When should I bring in an interim CFO?

When you unexpectedly lose your CFO and want the seat filled while you run a search, when a sale, merger or debt raise needs specialized financial expertise, when you are planning for a break in CFO staffing due to parental or medical leave, or when your board, investors or lenders need to see a steady hand on finance between leaders.

How much does an interim CFO cost?

There is no one-size-fits-all answer. An interim engagement is typically full-time for the length of the transition, so the cost depends on the scope and how long the seat needs covering. The best way to determine the right level of investment is to discuss your situation with us in a complimentary consultation.

What is a fractional CFO?

A fractional CFO gives you senior financial leadership on a regular, part-time basis, without the cost or the commitment of a full-time hire.

Who is a fractional CFO right for?

Mid-sized organizations that need CFO-level work but cannot justify a full-time CFO on payroll, start-ups that have advanced beyond basic accounting and need a senior financial advisor part-time, and companies whose finance function works but has nobody qualified to sit across from the board or the bank.

How much does a fractional CFO cost?

There is no one-size-fits-all answer. The cost depends on the level of expertise, scope and amount of support you need, and hours move with the business, with no renegotiation for a busy quarter. The best way to determine the right level of investment is to discuss your situation with us in a complimentary consultation.

What does outsourced accounting include?

Accounts payable, accounts receivable and payroll, closing the general ledger each month, financial statements and the related reporting, plus tax planning and reporting handled alongside the accounting.

Can you work with the accounting team we already have?

Yes. We can handle the whole finance and accounting function, or augment the accounting department you already have.

How much does outsourced accounting cost?

It is ongoing and sized to what you use. You pay only for what you need, and the expertise is there when the work spikes. The best way to determine the right level of investment is to discuss your situation with us in a complimentary consultation.

What does financial consulting cover?

Mergers and acquisitions, IPO preparation and fundraising, audit preparation and SEC reporting, government grant and contract accounting, and transfer pricing analysis and the other specialized work that arrives without warning.

How long does a financial consulting engagement last?

It is project-based, for the length of the initiative: an audit, a transaction, a raise or a reporting obligation.

How much does financial consulting cost?

There is no one-size-fits-all answer. The work is project-based, so the cost follows the scope of the initiative. The best way to determine the right level of investment is to discuss your situation with us in a complimentary consultation.

What is AI-enabled finance at Charles River CFO?

It is a capability we offer where it fits a client's books. Not every client's close runs on it. Where it does, the close runs on a purpose-built AI close platform, and every deliverable is reviewed and approved by a named, Big 4-trained professional before it reaches you.

Do we have to move our books to a new system?

No. Your books stay in your own ledger, always. Nothing proprietary, nothing to migrate.

How much does AI-enabled finance cost?

There is no one-size-fits-all answer. The cost depends on the scope of the close and reporting you need. The best way to determine the right level of investment is to discuss your situation with us in a complimentary consultation.

What does tax consulting cover?

A complete review of your business entity structure and tax classification, U.S., state and local income and sales tax obligations and available credits, international tax and transfer pricing, and the deductions and credits that have been overlooked in past years.

Who leads the tax work?

James Crane, CPA, who leads our Entrepreneurial and Global Tax Practice and has saved clients more than $50M in R&D tax credits.

How much does tax consulting cost?

Engagements can be a project, annual, or total tax outsourcing, so the cost follows the shape you choose. The best way to determine the right level of investment is to discuss your situation with us in a complimentary consultation.

What is a financial assessment?

A focused, initial review of your finance and accounting operations, benchmarked against best practice. You receive a written assessment with prioritized, actionable recommendations.

How long does a financial assessment take?

It is a fixed-scope engagement, typically two to four weeks.

How much does a financial assessment cost?

There is no one-size-fits-all answer. The cost depends on the level of expertise, scope and amount of support your organization actually needs, and the assessment itself is a fixed-scope engagement. The best way to determine the right level of investment is to discuss your situation with us in a complimentary consultation.

Not the right shape? There are six other ways in.

ASK US WHICH ONE FITS

One call, no charge, and a straight answer on whether we are the right fit.

You will speak with the CFO for your market. If the answer is no, we will tell you that too.