Preparing your F&A team for leadership changes
January 25, 2026
At the start of the new year, your finance and accounting (F&A) department is under a microscope. Budgets, forecasts and strategic plans are top of mind, and internal staff may be working with your CPA to finalize year-end financial statements. This heightened attention often raises an important question: What would happen if your CFO suddenly left?
For many organizations, leadership change in the F&A department would be highly disruptive. Proactively planning for a CFO’s departure — whether expected or unexpected — can help stabilize your team and reduce key-person risk. It also creates a valuable opportunity to reassess your organization’s financial reporting and strategic planning needs. Here are four practical steps to consider as you plan for 2026.
1. Update the job description
During the current CFO’s tenure, your organization’s needs may have changed. Take time to review the existing job description and assess whether it still reflects the skills and experience your organization requires today.
For example, if you’ve recently taken on debt and must comply with lending covenants, make sure those responsibilities are clearly defined in the job description. Also, if you’ve expanded substantially, you may have outgrown the current role’s scope or structure. For instance, you might need to replace a bookkeeper with a CPA who has the experience and skills to manage a larger F&A team.
2. Evaluate your department’s performance
The F&A department is critical to your success. It should provide accurate, relevant financial information on a timely basis. Objectively assess whether reporting delays, recurring errors or limited financial insight have been holding your business back.
If your organization’s goals demand a higher level of performance, this may signal a need for structural improvements — such as enhanced training, new team members, clearer accountability, and more formalized policies and procedures. Strong internal controls help reduce fraud risk and lessen reliance on any single individual.
3. Ensure your accounting technology is keeping pace
Leveraging modern accounting software can help your F&A team operate more efficiently, reduce manual data entry and minimize errors that often arise from spreadsheet-driven processes. Well-configured systems can also improve consistency in reporting, strengthen internal controls and create clearer audit trails.
In addition, automation can free up internal staff to focus on higher-level activities, such as financial analysis, forecasting and strategic decision-making. As part of your planning, assess whether your current system is up to date, industry-appropriate and properly configured to support your organization’s size, complexity and growth plans. If the system relies heavily on manual workarounds or undocumented processes, it may expose your organization to unnecessary risk during a leadership transition.
Also consider whether you’re maximizing the functionality of your current accounting software. Set up a meeting with a vendor rep to discuss what’s working and what’s not, and see how they respond. A worthy provider will address issues, provide training and offer ongoing customer support. If your vendor doesn’t provide adequate support, we can conduct a comprehensive assessment of the effectiveness of your accounting system and how you’re using it.
4. Plan for change
In-house personnel will need to manage new challenges as your organization grows and evolves. For example, if you’re dealing with a complex matter — such as a merger, restructuring or private equity transaction — your CFO should have sufficient knowledge to support the effort.
Thinking in terms of succession, scalability and adaptability can help ensure your finance function remains effective over time. Streamlined processes and documented procedures also make transitions smoother when change does occur.
Be proactive, not reactive
A CFO’s departure doesn’t have to derail your organization’s momentum. With a clear action plan in place, you can turn a potential disruption into a strategic reset. Taking these steps before a transition occurs can help ensure your F&A team remains stable, effective and aligned with your organization’s goals in 2026 and beyond. Contact us for more information.
© 2026
