CFO SQUAD POSTS RECORD 32% REVENUE GROWTH FOR Q1 2022
LED BY STRONG DEMAND FOR OUR RECENTLY LAUNCHED CFO ADVISORY DIVISION
NEW YORK, N.Y. – (May 23, 2022) CFO Squad continues its upward trend, reporting significant revenue growth and a steady increase in new clients. CFO Squad, a leading provider of outsourced CFO, financial reporting, and consulting services, announced that its first-quarter sales grew by 32%. This continued its trend of double-digit growth over the last several quarters. The growth is attributed to approximately a 20% increase in new client engagements in 2022 backed by continued expansion in its staff of experts.
All of the firm’s divisions showed continued growth in Q1 2022 with the highest growth from its newest division, CFO Advisory Practice, led by Reuven Aronov. Mr. Aronov, a highly qualified accountant, has twenty-three years of experience working in senior-level positions such as CFO, Audit Manager and Finance Director of several large firms.
In the first quarter of 2022, all CFO Squad practice areas — including IPO Readiness, SEC Financial Reporting, Technical Accounting, Tax Compliance, and Private Company Services — posted significant gains. This success is due to the extensive knowledge and experience of our team, exceptional client-centered relationships and an overall company focus on surpassing expectations.
“It’s exciting to be able to continue to report significant growth,” said Joseph Himy, CPA, CFO Squad’s Managing Director and Founder. “Obviously, there are new financial and economic factors affecting the financial markets, but given our commitment to finding and increasing our talent pool, we will continue to grow our services that are in high demand. Our client engagements are always extended once our clients experience the benefits of our team approach. In fact, most of our new clients come to us from current client referrals and remain clients for many years.”
Erick Frim, CFO Squad’s newest partner, leads the firm’s strategy and growth initiatives as well as its SEC, Going Public, and Technical Accounting Groups. He is optimistic on CFO Squad’s growth prospects for the rest of 2022: “The market for outsourced accounting services remains strong especially considering the current headwinds in recruiting competent accountants. We offer aspiring accountants the opportunity to grow rapidly and hand on CFO / Controller experience, and our clients the expertise of our team at a fraction of the cost of in-house staff.”
The CFO Squad provides its clients with access to financial reporting experts at an affordable price and is in sync with today’s trend of reducing or averting the cost burden of a large back-office accounting staff. In addition to financial oversight and meeting regulatory requirements, clients rely on the CFO Squad to help them through the capital raising process, support for complex business transactions such as mergers or acquisitions (M&A), navigating initial public offering (IPO) and SEC filings, or an uplisting from the OTC markets to Tier 1 exchanges like the Nasdaq.
ABOUT THE CFO SQUAD
The CFO Squad is an accounting consulting firm that specializes in financial reporting, technical accounting research and CFO advisory services for companies of various sizes and from multiple industries. From complex technical accounting transactions to periodic financial reporting, our professionals can offer an organization the specialized expertise and multilayered skill sets to ensure their accounting projects are completed timely and accurately. To learn more, please visit: www.cfosquad.com or call us at (845) 613-3394.
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Joseph Himy, CPA
Managing Director & Founder