What a CFO Looks for from the Payroll Department
This week, we’re diving into the crucial relationship between finance and payroll departments. A Chief Financial Officer (CFO) sees the payroll department from a strategic angle, focusing on its contribution to the organisation’s financial health and operational efficiency. Here’s what a CFO typically expects from the payroll department and how you can leverage these expectations to secure funding for essential payroll training and Australian Payroll Association (APA) membership. Key Payroll Expectations of a CFO Accuracy and Compliance CFOs need assurance that payroll processes are accurate and fully compliant with current legislation. Compliance minimizes the risk of costly fines and legal issues. Demonstrating adherence to complex payroll legislation, including state and federal laws, is crucial. Cost Management Effective cost management in payroll processing is a priority. CFOs look for ways to streamline operations, reduce processing costs, and improve ef...
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