This topic was the basis of an article written for the AICPA’s Financial Management magazine, and since they paid for it I promised not to publish it anywhere else. But they’d love for me to share a link to their publication, a win-win-win (the last one is yours). And since it was also well received by the Private Directors Association (well, by one if its founders anyway), The point of the article is valid regardless of who it came from.
Here’s the article: AICPA FM Magazine
If this article brings questions to your mind, I didn’t promise not to answer them. 310.645.1091 or Gene@CFOforRent.com