When it comes to hiring a CFO, business owners should look at more than just someone to handle their taxes.   

Courtney Kincaid, the President and CEO of the Indiana CPA Society, says business owners need to consider more than just compliance and taxes when looking for a CFO. Kincaid says a CPA is a much more versatile hire, and they can be used in more ways than you’d think. According to Kincaid, business owners should reconsider their mindset regarding what they want from a finance leader in their organization.    

A new report from the Indiana CPA Society shows that a CPA can be a great resource for small firms and entrepreneurs. The report shows a need for financial acumen and future-forward thinking. This includes working to discover opportunities for your business and finding a strategy to drive growth and success. 

Kincaid says hiring a financial professional who can look at capital management and financial forecasting are crucial. She likens it to looking out of front of your car instead of back.  

In addition, Kincaid wants business owners to consider the right job description when hiring. This includes language about a forward-looking mindset. She says finding a CFO who can have meaningful conversations with lenders and will use data points to drive insights and develop a strong corporate strategy is crucial.