“Earn the license that allows you to offer VCFO services to SMEs”

Licensed VCFO

Status and authority

The license is not required in terms of any statute or regulation. It promotes voluntary engagement between specialists and SMEs.

Purpose of the license

• Assisting CFOs and Financial Managers to offer their corporate finance experience to the SME sector as part time VCFOs
• Assisting accountants in practice to transition from tradition accounting and compliance to become a VCFO for their existing clients.

Learn the core competencies that a virtual CFO needs and the role that a virtual CFO can provide.

After completing this license a BAP(SA), CBA(SA) or CFO(SA) will be able to:

• Recognize the role that a virtual or outsourced CFO can provide to companies.
• Identify the key competencies needed for a virtual CFO role.
• Recognize the service options and business models available for virtual CFOs.
• Recall the readiness assessment needed before starting the virtual CFO role.

The following topics are covered in the license

• Virtual CFO role overview
• Potential service models
• Virtual CFO readiness
• Outsourced bookkeeping vs. virtual CFO roles
• Ethical considerations
• Technology platforms

Why a license to be recognised as a VCFO

Small and growing businesses do not have the funds to hire a CFO but still need advice on strategic, financial, and operational matters. In many cases, these businesses are turning to virtual (or outsourced) CFOs to guide them through periods of transition or growth. CPAs and other finance and accounting professionals are well positioned to be virtual, strategic business partners for these companies.

In this self-study course, you'll learn the core competencies that a virtual CFO needs and the role that a virtual CFO can provide. The course will emphasize the synergy between competencies developed by experienced CFO(SA)s, CBA(SA)s, BAP(SA)s and finance and accounting professionals and successful virtual CFOs.

Finally, you'll understand potential service models and the need for a readiness assessment before embarking on this career trajectory.

What is to be assessed?

A short assessment will test your understanding of your roles as a VCFO.

Standards

No specific standards have been identified for VCFOs. The following general standards apply: IESBA Code of Ethics, IAASB Quality Control for Non-Assurance Engagements.

The following persons will benefit from obtaining this license

• BAP(SA)
• CBA(SA)
• CFO(SA)
• Accounting and finance professionals interested in becoming a virtual/outsourced CFO or understanding more about the virtual/outsourced CFO role.

What you need to do before applying for the license

There are no prerequisites other than having the following designations:

• BAP(SA) with 3 years’ experience in practice,
• CBA(SA),
• CFO(SA).

Branded, secure, and verifiable digital certificates

• Obtain branded, secure, and verifiable digital certificates and badges.
• Your certificates can't be duplicated or faked.
• With a single click, you and potential clients/employers can verify the achievement is legitimate.
• Social media ready.
• We automatically optimize your certificates and badges to display perfectly on any screen size, so they always look good.