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Bonus episode #95: What happens when a leader stops coaching effort and starts demanding it? The transformative power of high expectations takes center stage in this eye-opening exploration of leadership principles that transcend industries.

Drawing inspiration from WNBA coach Becky Hammond's bold approach with the Las Vegas Aces, we examine how her refusal to "coach effort" led to an impressive turnaround - from a mediocre record to eleven consecutive victories and a secured playoff position. The lesson? When leaders establish non-negotiable expectations for commitment and performance, they free themselves to focus on strategy, skills development, and team synergy.

For finance leaders, this philosophy presents a compelling alternative to traditional coaching methods. While we can't simply "bench" underperforming team members, we have our own toolkit - strategic assignments, development opportunities, promotions, and bonuses. But implementing this approach requires nuance. We must recognize the varying levels of experience, ability, and motivation across our teams while still maintaining core standards of excellence.

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Bonus Episode #94: Change isn't just knocking at your door—it's already in your house, rearranging the furniture. As finance leaders, our ability to navigate and drive transformation determines whether our organizations thrive or merely survive in today's dynamic business landscape.

The most dangerous position for any finance professional is complacency. That comfortable position you've worked so hard to reach? It could disappear tomorrow if you're not constantly evolving your skills and mindset. Your competition isn't resting, and neither should you. As Amelia Earhart wisely noted, "The most difficult thing is the decision to act. The rest is merely tenacity." This wisdom applies perfectly to how we must approach change—with decisive action and unwavering persistence.

Leading change requires addressing two critical fronts simultaneously: your personal career development and your organization's adaptability. On the personal side, continuous learning is non-negotiable as our profession transforms through technological advancements like AI and regulatory shifts. For your organization, proactive change leadership means conducting regular team-based SWOT analyses, challenging assumptions, updating processes, and ensuring your technology remains current. The CFO plays a pivotal role by allocating resources that signal commitment to transformation initiatives while maintaining transparency with teams to build trust during periods of change.

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Episode 144: Dive into the fascinating world of financial detective work as we explore the specialized field of forensic accounting. Ever wondered who tracks down financial criminals or how complex fraud schemes are uncovered? This episode pulls back the curtain on a career path that combines investigative prowess with accounting expertise.

We examine how forensic accountants serve as financial sleuths, tracing illicit transactions and identifying misappropriated assets for government agencies, insurance companies, and legal firms. Unlike traditional auditors who verify financial health, these specialists specifically search for irregularities with the presumption that misconduct may be present. Their work requires not just accounting knowledge, but also investigative techniques, legal understanding, and meticulous documentation skills.

Could this be your next career move? If you enjoy analyzing data, identifying patterns, and solving complex financial puzzles, don't overlook this rewarding specialization.

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Episode outline:

1. What is the purpose of forensic accounting,
2. The process of detecting fraud, and 
3. Career opportunities for forensic accountants.

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Episode 143: Financial integrity isn't optional—it's essential. That's why developing a structured, effective audit plan stands as one of the most critical responsibilities for finance leaders today. 

This episode unveils a nine-step framework for creating audit plans that deliver genuine value. From understanding your business environment and conducting thorough risk assessments to defining clear audit scopes and establishing communication protocols, each element works together to create a process that leadership can trust. We explore how to effectively present technical findings to leadership teams in ways that drive action, not confusion. Most importantly, we examine why leadership commitment fundamentally determines whether an audit becomes a transformative tool or merely a compliance exercise.

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Episode outline:

1. How to structure an effective audit plan,
2. Presenting the findings to the leadership team, and
3. Why leadership is essential for the auditing function.

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Episode 142: Financial risk assessment stands as the cornerstone of effective auditing—the crucial process that separates calculated risk-taking from reckless decision-making. This deep dive into organizational risk management provides finance leaders with a strategic framework for protecting company assets and ensuring financial integrity.

At its core, proper risk assessment requires a cross-functional approach. By bringing together expertise from legal, treasury, accounting, and financial planning departments, organizations can conduct robust SWOT analyses that reveal potential vulnerabilities. The process continues with identifying key metrics related to areas of concern, scoring and ranking these metrics, and evaluating the effectiveness of existing internal controls. This methodical approach ensures that audit resources focus first on the areas presenting the greatest risk to financial health and operational integrity.

The significance of this process cannot be overstated. By systematically identifying weaknesses in internal controls and operational policies, finance leaders can build audit plans that address real vulnerabilities rather than perceived threats. This validation process provides confidence to all stakeholders—from employees and suppliers to creditors and potential investors—that the organization maintains financial stability and follows a viable strategic course. Whether you're managing compliance risk, credit and liquidity challenges, market uncertainties, or operational vulnerabilities, a well-designed risk assessment protocol serves as your first line of defense against financial irregularities. Take time today to evaluate your risk management system and ensure it effectively engages internal experts to assess your organization's most pressing risks. Your company's long-term success may depend on it.

Episode outline:

1. Analyzing various risk metrics will help identify areas with the weakest internal controls, 
2. Why financial risk is the foundation of the audit plan, and
3. Properly integrating risk into what you audit.  

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Episode 141: Curious about what makes audit teams tick? Dive into the crucial yet often misunderstood world of audit team management where leadership goes far beyond checking boxes and finding faults.

Audit managers stand as guardians of financial integrity, straddling the strategic vision needed to align with business objectives while directing teams to investigate transactions that might reveal weaknesses in controls. These professionals aren't just looking to catch mistakes; they're building the foundation of trust upon which all stakeholder relationships depend. As I explore in this episode, "a company's financial reputation is the relevant social currency for doing business in the marketplace today."

The most effective audit leaders combine analytical prowess with exceptional communication skills, positioning themselves not as adversaries but as partners in organizational success. They understand that identifying issues internally before external parties discover them is a service to the organization. The audit team must be uncompromisingly ethical, as I note, "people pleasers make horrible auditors." Their findings, coupled with practical recommendations, drive improved processes, better governance, and ultimately, strategic advantage.

For finance professionals considering career development, time in audit roles offers unique perspective on how business functions interconnect, builds valuable problem-solving capabilities, and establishes you as a trusted advisor. Many successful finance leaders cut their teeth in audit before advancing to roles like finance director or risk manager. Ready to elevate your organization's audit function? Ensure your team has adequate resources, appropriate technology, necessary access, and leadership that values their findings.

What's the state of your audit function? Are you leveraging this critical team to their full potential? Subscribe now for next week's episode where I'll tackle risk assessment in the audit planning process.

Episode outline:

1. Key competencies of the audit team,
2. How the audit team manager contributes to the strategy and audit plan, and 
3. How a role in audit can help your career.

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Episode 140: Financial integrity isn't just about compliance—it's the cornerstone of organizational trust and success. In this thought-provoking exploration of the audit function, we dive deep into how forward-thinking CFOs are transforming what's often viewed as a necessary evil into a strategic advantage.

The most effective finance leaders understand that auditing isn't about hunting for mistakes or satisfying regulators; it's about building a foundation of accuracy that enables better decision-making at every level. We examine three essential pillars that should guide your audit strategy: fostering a team with unwavering professional ethics, ensuring meticulous financial accuracy in reporting, and implementing robust internal controls to safeguard company assets. These elements aren't just technical requirements—they're competitive advantages in a business landscape where trust is increasingly valuable currency.

Risk assessment emerges as a critical companion to effective auditing. By creating and continuously updating a comprehensive risk matrix, the CFO can ensure audit resources are deployed where they'll have the greatest impact. Whether you lead a small private company or a publicly traded enterprise, this strategic approach to audit planning transforms compliance activities into valuable insights that support long-term business goals. Remember, a truly effective audit function should regularly uncover areas for improvement—if your auditors never find issues, it's time to review your testing processes. The journey toward financial excellence begins with embracing auditing not as a basement-dwelling afterthought but as a spotlight illuminating your path to organizational integrity and sustainable success.

Episode outline:

1. Why is a solid audit plan essential for your organization,
2. Measuring and assessing organizational risk, and
3. How the CFO shapes the audit plan to support long term strategy. 

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Bonus episode #93: Leadership isn't about mastering spreadsheets—it's about transforming information into strategic action. In this preview of Season 20 of the Finance Leader Podcast, Stephen McLain unveils an exciting five-episode journey exploring audit, risk, and independence through the lens of leadership development.

Drawing from his compelling experiences as an internal review officer in Iraq, McLain shares how he helped military commanders stretch their budgets through enhanced accountability—often facing resistance until those same leaders witnessed how proper controls actually empowered their mission. This military-to-business parallel offers a refreshing perspective on audit functions that extends far beyond fraud prevention to ensuring financial accuracy and stakeholder confidence.

The upcoming season promises a comprehensive exploration of audit leadership, beginning with CFO oversight and audit team dynamics, then progressing through risk assessment, audit strategy development, and concluding with an intriguing look at forensic accounting careers. Whether you're looking to advance in finance, enhance your leadership toolkit, or discover how audit expertise can propel your career forward, this season delivers practical insights for professionals at every level. Subscribe now to join the journey toward becoming a strategic finance leader who thrives amid complexity and brings clarity when chaos seems the norm.

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Bonus episode #92: Leadership is the bridge between resources and results, between data and decisions. While many finance professionals focus intensely on technical skills, the truly exceptional ones recognize that leadership development must come first. This episode makes a compelling case for prioritizing leadership skills as the foundation upon which all other finance competencies build.

Through an examination of both effective and ineffective leadership examples, we explore why leadership becomes the most important skill for finance professionals to develop. Great leadership isn't about quick wins or personal validation—it's about creating sustainable excellence by investing in your team's growth. When you develop leadership skills, you gain the ability to solve complex problems, bridge communication gaps between departments, and turn data into strategic action.

The episode outlines practical approaches to becoming a better leader: adopting a growth mindset, conducting meaningful one-on-ones, providing honest feedback, and building genuine relationships with team members. These skills allow finance professionals to move beyond being technical experts and become strategic partners who help shape the organization's future.

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Bonus Episode #91: Ever feel like time is slipping away while your biggest goals remain unfulfilled? You're not alone. The difference between dreaming and achieving often comes down to one critical factor: your ability to stay focused in a world designed to distract you.

We explore three powerful approaches to maintaining laser-like focus. First, you'll learn how to identify and change the habits that consistently pull you off course. Those morning and evening routines? They're more critical to your success than you might realize. Second, I'll show you how creating a vision board transforms abstract dreams into concrete daily motivation, keeping your biggest aspirations front and center when decisions get tough. Finally, we'll cover the documentation and scheduling systems that turn intentions into actions, including how to use production timers, prioritization techniques, and progress tracking to build unstoppable momentum.

What makes this conversation particularly valuable is its honesty about the role your inner circle plays in your success. The people closest to you profoundly influence your mindset and behaviors—are they lifting you up or holding you back? By the end of this episode, you'll have a clear framework for minimizing distractions, maximizing productivity, and staying relentlessly focused on what matters most. Ready to transform your approach to goal achievement? This is your roadmap to results that last.

Episode outline:

1. Change your habits so you avoid the usual distractions,
2. Create a vision board to help turn your dream into reality, and
3. Schedule and document your goal achievement plan.

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For more resources, please visit Finance Leader Academy:  financeleaderacademy.com. 

1. Please download the Goal Setting Workbook that follows Episode 115: here
2. On the website, you can download the Become a Finance Leader Guide. You can use this guide to build your Finance Leadership skills so you can help senior leaders develop and execute the strategy.

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