In today’s fast-paced world, the role of a controller, especially in a small business like CLM, is more challenging than ever. Having been in this field for 30 years, with 18 of those years spent at CLM, I’ve seen firsthand how the job has evolved. With laws, technology, and procedures constantly changing, it’s a never-ending task to stay informed and ensure that our business is compliant.

Constant Learning: A Necessity for Small Business Controllers

As a controller, one of the most crucial aspects of the job is to stay ahead of the curve. This means continuously learning new laws, technology, procedures, and best practices. There isn’t always someone within the organization to bounce ideas off or discuss the latest changes. I, like many controllers, need to actively seek out information from external sources.

Finding Reliable Sources: Where to Look and What to Look For

To stay informed, knowing where to find reliable and up-to-date information is essential. Here are some of the best sources I’ve found useful over the years:

• Your CPA: Certified Public Accountants (CPAs) are often at the forefront of accounting laws and procedural changes. Regularly consulting with your CPA can provide valuable insights into how new laws may impact your business.
• Your Insurance Agency: Insurance agencies are also a great resource, especially when it comes to understanding how changes in laws might affect your business’s insurance needs. They often have access to resources and experts who can offer guidance.
• Industry Groups: Belonging to an industry-specific group, like the 4A’s (American Association of Advertising Agencies), can be incredibly beneficial. These groups often provide members with newsletters, webinars, and networking opportunities that keep you informed about the latest trends, technology, and legal changes.
• State and Federal Webinars and Newsletters: Government agencies frequently offer webinars and send out newsletters that cover the latest changes in laws and procedures. These resources are often free and provide direct information from the source.

When utilizing these sources, common elements are webinars, newsletters, and blogs. These formats are not only accessible but can provide information that can help you understand and implement necessary changes in your organization.

Implementing Best Practices for HR and Accounting

Once you’ve gathered the necessary information, the next step is to implement these changes in your business. This involves creating and updating policies for HR and accounting to ensure compliance with the latest laws. It’s not enough to simply know what the changes are; you must also teach your team and ensure that these new procedures are followed. This might involve training sessions, creating new documentation, and regularly reviewing your practices to ensure they remain up-to-date.

As controllers, we are the guardians of our company’s financial health and legal compliance. By staying informed and implementing best practices, we can help our businesses navigate the ever-changing landscape of laws, technology, and procedures. It’s a challenging task, but with the right resources and a proactive approach, it’s one that can be successfully managed.