What a fractional CFO does
A fractional CFO works with your company part-time on the forward-looking side of finance: cash flow forecasting, budgets, pricing, KPI and board reporting, and lender or investor packages. See our fractional CFO services.
A controller owns the backward-looking side: the monthly close, reconciliations and accurate financial statements. A CFO’s forecast is only as good as the close underneath it. See virtual controller services.
“CFO” is not a license. Anyone can use the title. A CPA is licensed by a state board of accountancy, and only licensed CPA firms may issue audit and review reports. Some fractional CFOs are CPAs; many are not. For online sellers, see fractional CFO for e-commerce.
How to verify a fractional CFO’s CPA license
- If they say they are a CPA, search NASBA CPAverify for the individual and the firm.
- If the state does not participate in CPAverify, use the board listed in NASBA’s state board directory.
- If they are not a CPA, ask for references from companies of similar size and the names of the CPA firm that does your tax and any audit or review.
Questions to ask a fractional CFO before hiring
- Are you a licensed CPA? If not, who handles tax and attest work?
- What does a typical month of deliverables look like? Can I see a sample?
- Will you own the close, or rely on my bookkeeper?
- How have you supported a bank loan, an investor raise or an audit?
- If your firm also audits or reviews our statements, how is independence handled?
- How many hours a month does the scope assume, and what happens if we need more?
Free checklist
13-Week Cash Flow + Fractional CFO Interview Questions
Red flags
- No defined deliverables. “Strategic advice” with no monthly package, forecast or meeting cadence.
- A CFO title with no verifiable credential or references.
- Plans to also audit or review your statements. The AICPA Code of Professional Conduct treats assuming management responsibilities for an attest client as impairing independence.
- Dashboards only, no forecast. Charts of last month are reporting, not CFO work.
- Forecasting on books that are not closed. Ask who reconciles the accounts first.
Why clients choose Your Virtual CPA
- We are a licensed CPA firm, so CFO, controller and tax work sit with licensed CPAs.
- We work virtually with growing companies and nonprofits nationwide.
- Services include fractional CFO, virtual controller, financial manager support and financial statements for bank loans.
- Transparent, fair fees quoted upfront, in writing.
- A free initial consultation.
How it works with us
Best for: owner-led companies and nonprofits that need cash forecasting, reliable monthly reporting and help with lenders or investors, without a full-time CFO.
- Free initial consultation. Tell us what decisions you are trying to make and what your books look like.
- Fees quoted upfront, in writing. Transparent, fair fees and a defined monthly scope.
- Close review. We review your books and fix the close if needed.
- Forecast. We build a 13-week cash forecast and a KPI report.
- Monthly cadence. Statements, forecast update and a working session each month.
Bookkeeper vs controller vs fractional CFO vs CPA firm
| Bookkeeper | Controller | Fractional CFO | CPA firm (tax and attest) | |
|---|---|---|---|---|
| Main job | Record transactions | Close the books, reconcile, produce statements | Forecast, cash, KPIs, financing | Tax returns, audits, reviews, compilations |
| License required | No | No | No (title, not a license) | Yes, state CPA license and firm permit |
| Monthly close | Supports | Owns | Reviews and uses | Not usually |
| Cash forecast and budget | No | Sometimes | Owns | Not usually |
| Audit or review report | No | No | No | Yes, if independent of the company |
Expert CPAs. Personal attention.
Need CFO-level help without a full-time hire? Book a free initial consultation and talk to a CPA about your cash and reporting.
Frequently asked questions
A CPA is a state license to practice public accounting, including signing audit and review reports. CFO is a job title, not a license. A fractional CFO works part-time on forecasting, cash, reporting and financing. Some fractional CFOs are CPAs and some are not, so ask and verify.
Common triggers are cash surprises, a bank loan or investor raise, rapid growth, a board that wants real reporting, or an owner spending nights on spreadsheets. If your books are not closed accurately each month, start with a controller or bookkeeping cleanup first, since forecasts built on bad books are not useful.
A controller owns the monthly close, reconciliations and accurate financial statements. A CFO uses those statements to forecast, manage cash, price and raise capital. Many growing companies need a controller first and add CFO hours later; some engagements combine both.
Generally not the same firm, if the CFO work involves management responsibilities. The AICPA Code of Professional Conduct says a CPA firm that assumes management responsibilities for an attest client impairs its independence. Plan for a separate, independent firm for your audit or review.
At minimum: closed financial statements reviewed with you, a rolling cash forecast, a short KPI report, and a written list of decisions and risks. Ask for a sample month before you sign.
Usually, yes. “Virtual” describes how the work is delivered, remotely, and “fractional” describes the time, part-time. Your Virtual CPA, a licensed CPA firm, provides fractional CFO and controller services virtually, nationwide.
It depends on hours, deliverables and whether the close is included. After a free initial consultation we quote a transparent, fair fee upfront, in writing.
Sources
- AICPA Code of Professional Conduct (nonattest services, 1.295)
- NASBA CPAverify
- NASBA: State boards of accountancy
- IRS: Choosing a tax professional
General information as of October 20, 2026. Tax rules change; talk to a CPA about your situation.