Provisions can be a thorn in the side of a CFO.
You need to follow government guidance on sound fraud detection and put accounting frameworks in place to assess your customers’ likelihood to default on their first payment.
If you’re CFO, you own the numbers. You are the senior management member responsible for ensuring your company has good credit risk practices.
On the other hand, if you’re a CRO, you need a modern internal control and scoring system that enables an approach to provisions that balances fraud detection with the right level of risk-taking.
In this eBook, we will look at the CFO’s role in preventing, or at least limiting, your lender’s exposure from written-off loans, as well as how the CFO and finance team can free working capital to grow the business using behaviour-based fraud detection.