Client secondment (CFO)

By: Angus Management  15-06-2011
Keywords: Management, Business Strategy

Canadian junior exploration venture – public (TSX-V, OTC, and DAX) , pre-revenue, 25-person, two-office junior exploration company – Responsibilities: fix the finance and accounting functions: (1) replace the controller and realign staffing responsibilities; (2) define and implement necessary system changes to better control $1 million a week in exploration-season spending; (3) complete a special JV audit to enable an ‘earn-in’ option exercise by a multi-national partner, which included them making a $1 million payment; (4) execute an 'auditor' RFP to replace the ‘small-firm’ auditors with the service depth of a Big-Four Firm (Deloitte); (5) prepare annual budgets; (6) improve regulatory reporting format and content; (7) complete $6 million in flow-thru share financings and related CRA filings; (8) initiate preliminary IFRS conversion planning and advance prep for a 10:1 share consolidation. This work was completed as an interim assignment lasting seven (7) months.

Keywords: Business Strategy, Management

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