CFO Series: Doing the Right Things Right

Overview

All times are listed as Eastern Standard Time.

CASE STUDY – We are so busy that we sometimes fail to do the simple things as we should. We know that simple things are not always simple, and they may have a significant impact. We should not take certain topics for granted, e.g., ethics, governance, internal audit, and incentive compensation plans. We will review these four topics, concentrating on today’s best practices in governance, internal audit, and incentive plans. Learn from the numerous ethical mistakes made by others. Internal audit can be a profit center. What are best practices in governance? The cost of `not doing it right’ can be enormous, and we discuss proven tactics to help you and your colleagues do it right - the first time.

This course qualifies for 4.00 hours of A&A and 2.00 hours of Ethics credit.

Module 1: Incentive Compensation Plans That Incentivize - Design Plans That Work! Incentive plans change behavior, but do incentive plans really incentivize the performance we want? This seminar will examine incentive plans to see which ones work and which do not. We will also examine difficult issues, such as what happens when we have upper and lower limits on incentives? How do we recognize performance in divisions facing different challenges? Sadly, too many incentive plans do not achieve the intended goals. Learn from the many mistakes made by others, so your incentive plans will work as planned!

Module 2: Beyond the Boardroom: Corporate Governance Best Practices - 2.00 hours of A&A credit Balancing financial responsibilities with ethical leadership and governance practices can often seem daunting, particularly in smaller organizations. In this session, we will discuss practical skills needed to lead with accountability, set high ethical standards, how to engage with the Board effectively, and drive true governance practices that go beyond buzzwords. Numerous organizations have embraced better governance because it is needed and is effective. We will discuss why better governance is imperative and how to implement the best governance practices.

Module 3: Developing a Great Internal Audit Department: The Process? - 2.00 hours of A&A Credit What can we do and how can we make our Internal Audit department better? How does Internal Audit add value? What measurables should we use? What are the key factors to get right? We will show you how to transform Internal Audit into a profit center. Renowned organizations rotate future leaders through Internal Audit for a reason. Operational and other audits performed with the right processes, procedures, and personnel are key to success throughout the organization. The modern Internal Audit department pays for itself. If you are interested in getting the most bang-for-the-buck from Internal Audit, this seminar will deliver.

Module 4: Ethical Dilemmas: Navigating Blurred Lines: Ethical Decisions Making Made Easy - 2.00 hours of Ethics credit Ethics is always complicated. Enhancing your ethical decision-making skills is vital when dealing with omnipresent pressures in today’s world. This seminar discusses a clear and easy-to-follow framework for navigating complex ethical dilemmas. You will gain the confidence to make sound ethical decisions in various professional settings using a practical and straightforward approach to ethics. Maintain your integrity and maintain your license. Ethics is not something to merely satisfy requirements. Ethics is who we are, what we stand for and why we are valuable.

Highlights

Module 1: Incentive Compensation Plans That Incentivize - Design Plans That Work!

• What are incentive plans trying to achieve?
• Types of incentive plans commonly found - What are the advantages and disadvantages of each?
• What makes a plan work or fail?
• Compensation methods - stock, options, cash, etc.
• Specific issues in design - The unequal challenge, upper and lower limits, and tying to objectives
• How to test a plan to ensure that it will work

  Module 2: Beyond the Boardroom: Corporate Governance Best Practices

• Accountability in the workplace
• Leadership, governance and ESG (Environmental, Social and Governance)
• The role of the Board in governance
• Setting ethical standards
• The keys to true governance best practices
• Practical applications in smaller organizations

  Module 3: Developing a Great Internal Audit Department: The Process?

• The six factors required for Internal Audit to deliver value - The most important factor - Implementing Internal Audit guidelines
• How to measure value and progress
• What distinguishes a good department from a great department? - Key skills for excellent Internal Auditors - The proper mindset and goals - Getting and keeping the right staff
• How to cost-justify Internal Audit - Making the business case
• Effectively communicating with the Board and other leaders

  Module 4: Ethical Dilemmas: Navigating Blurred Lines: Ethical Decisions Making Made Easy

• Understanding ethics and moral principles
• Identifying ethical dilemmas
• Analyzing consequences and the impact on stakeholders
• Applying ethical decision-making models - Effectively using the Code of Professional Conduct
• Managing ethical conflicts and resolutions

Prerequisites

Bring your enthusiasm and commitment to enhancing your corporate governance leadership skills.

Designed For

Corporate financial leaders, corporate financial managers, CEOs, CFOs, controllers, accountants, board members, advisors, and consultants; CPAs in public practice and CPAs in industry; business owners, entrepreneurs and professionals who are interested in realizing more value from overall organization

Objectives

• How to successfully design an incentive compensation plan that fits the needs of the organization
• Develop strategies for enhancing accountability and transparency in financial management.
• Understand the critical role of leadership in fostering an ethical governance culture.
• Learn effective ways to engage with the Board and C-suite to drive governance excellence and stakeholder trust.
• Implement best practices for setting and upholding ethical standards in financial decision-making.
• Explore practical approaches to implementing corporate governance in smaller organizations.
• Recognize the value that an effective Internal Audit function can deliver.
• Measure the impact of Internal Audit.
• Make the business case for Internal Audit to management.
• Evaluate ethical dilemmas using established frameworks.
• Apply ethical decision-making models to real-world scenarios.
• Analyze consequences and stakeholders' perspectives in ethical conflicts.
• Demonstrate effective communication in resolving ethical challenges.
• Develop a personal ethical code to guide professional conduct.

Notice

All materials will be available to download in advance and participants will receive an email two days prior to the course date. Materials will also be posted in the “My CPE” section of the NESCPA website.