Sunday, March 29, 2026

What are the responsibilities of the president/CEO for a small public accounting firm?

 

President/Chief Executive Officer

1.      Reviews and approves all client financial reports including cash flow projections

2.      Sees that an appropriate budget is developed annually

3.      Reviews and signs all issued checks and/or approves check signing procedures

4.      Reviews and approves all contracts

5.      Approves inter-account bank transfers

6.      Is on-site signatory for all bank accounts

7.      Opens all bank statements, reviews for any irregularities, and reviews completed monthly bank reconciliations

8.      Oversees the adherence to all internal controls

9.      Reviews annual and periodic financial statements and information

10.   Reviews and advises staff on internal controls and accounting policies and procedures

11.    Determines whether a client should have an audit and, if so, chooses the audit staff.

12.   Reviews all payrolls and is responsible for all personnel files

13.   Reviews and manages cash flow

14.   Reviews all incoming and outgoing invoices

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