Frequently asked
questions

A fractional CFO is an experienced chief financial officer who works with your company on a part-time, recurring basis — typically a set number of days per week or month. You get CFO-level judgement on strategy, forecasting, cash flow, and reporting, scaled to what the business actually needs and without the cost of a full-time executive hire.

A bookkeeper records transactions. A controller manages the accounting process and produces accurate statements. A CFO looks forward: forecasting, cash strategy, financing, board and investor relationships, and the financial side of major decisions. Most growing companies need all three layers — a fractional CFO supplies the top layer part-time and often improves the layers below it.

Common triggers: revenue growing past the point where the founder can manage finance alone (often between $1 million and $20 million), investors or lenders expecting regular reporting, an upcoming financing, audit, or transaction, unpredictable cash flow, or an accounting team that lacks senior leadership. If two or more of those sound familiar, a conversation is worthwhile.

Fees depend on scope and cadence — how many days per month, and what the engagement covers. Fractional engagements cost a fraction of a full-time CFO's compensation because you pay only for the time the business needs. Scope and fees are agreed in writing before any engagement begins; contact us for a conversation about your situation.

Three common shapes: ongoing fractional support on a monthly cadence, full-time interim coverage for a defined period, or a fixed-scope project (a model, a financing, an audit, a listing-readiness assessment). Every engagement starts with a written agreement covering scope, cadence, deliverables, and fees, and can be adjusted as needs change.

Yes. Engagements run remotely, in person, or hybrid depending on what the work needs. Reporting, forecasting, and most advisory work runs well remotely; board meetings, audits, and transactions sometimes benefit from being in the room.

Yes. The firm is based in Toronto and serves the Greater Toronto Area in person, with remote and hybrid engagements across Ontario and Canada. International companies that report under IFRS or need Canadian public-company expertise are also served remotely.

Yes — public-company work is a core strength. The firm's principal has served as CFO of Canadian public companies and supports issuers with IFRS reporting, MD&A, audit coordination, audit-committee reporting, internal controls, and interim CFO coverage.

Yes. IFRS financial reporting is central to the practice — quarterly and annual statements, technical accounting analysis, IFRS conversion for companies preparing to list, and support for international companies that report under IFRS.

Yes — on the financial side. That includes listing-readiness assessment, IFRS conversion, audit preparation, forecasts and working-capital models, use-of-proceeds schedules, and building post-listing reporting infrastructure. The firm works alongside your legal counsel, auditors, sponsors, and investment dealers; it is not a law firm, sponsor, or dealer itself.

Yes, with the financial workstreams: models, use-of-proceeds schedules, investor-materials content, due-diligence and data-room preparation, and management support through the process. Cipher Financial is not an investment dealer and does not sell securities or solicit investors.

Yes — that is the normal arrangement. Most engagements sit on top of an existing bookkeeper, accountant, or controller, adding senior review, direction, and strategy. Good internal teams usually get better with senior oversight, not displaced by it.

No. Auditor independence rules mean your external auditor must remain separate. Cipher Financial works on management's side of the audit — preparing statements and support, managing the request list, and coordinating the process so the audit runs efficiently.

Depending on current commitments, interim engagements are scoped to start quickly — often within days. The first step is a short conversation about the situation, the immediate deadlines, and the state of the team.

Yes. Client information is treated as confidential, and engagements are governed by written agreements that include confidentiality terms. As a practical note, please do not send confidential financial documents through the website contact form — share sensitive material only after an engagement and a secure channel are in place.