Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
The use of sophisticated ERP software, combined with tools like RPA, is creating an opportunity for the Finance Function to take a more pro-active role in the automation and elimination of non-value adding work in many support functions specifically in the finance function.
These sophisticated tools are often implemented without a solid understanding and documentation of the organization’s value chain and the processes that underlie the organization’s activities. This course is therefore a hands-on seminar intended to give new, and experienced, financial leaders an opportunity to discover and discuss implementation of LEAN concepts and tools.
Today’s competitive business environment is rapidly evolving - the digital economy, cloud technology, remote work, cybersecurity. Leadership and expectations of the finance function are also evolving rapidly with an impact on the leadership of the Finance Function. CPAs are now expected to participate actively in process improvement and the use of tools and concepts that help the organization achieve process efficiencies.
LEAN concepts have been in use for decades in the core activities of many organizations, but are not commonly used or applied in the support functions. A clear opportunity exists to use these same LEAN concepts such as process improvement, Six-Sigma, and value chain analysis, in order to help the organization achieve increased efficiencies. ERP and RPA tools are also adding to the complexity of the role of the financial manager.
Topics Include:
- Nature and challenges facing the Finance Function in the era of rapid digital transformation.
- Customer focus – internal and external – as a foundation of the use of LEAN concepts.
- The main finance processes – financial accounting and management accounting.
- Foundations of the LEAN methodology
- History of LEAN
- The Toyota Way and its 14 principles
- Value-Chain analysis (using the APQC standard model)
- The 8 Sources of Waste (MUDAS) in traditional functions such as the shop floor
- The 8 Sources of Waste (MUDAS) in support functions such as finance
- Process management: SIPOC and VSM models
- Using Kaizen methodologies and A3 documents
- Value Stream Mapping
- 5S, Poka-Yokes and visual control
- Bringing LEAN to the Balanced Scorecard
- The American Productivity and Quality Center (APQC) standard international value chain model
- The Kaplan & Norton balanced scorecard framework
- How to visually represent the value chain of your organization, adapting from the APQC standard model
- How to develop relevant Performance Indicators for specific business processes and functions
- Driving performance by building a coherent and aligned balanced scorecard for your organization
- Ideas and examples to improve the efficiency of the main accounting functions (O2C, P2P, PPE, Inventories, Budgets)
- The LEAN attitude and expectations of the Financial Manager
Individual activities during the course:
- Is it a Process, an Activity, or a Task
- Brainstorm Poka-Yokes for the Finance Function
- 5S for the Office
Group activities during the course:
- Case study and Workshop #1: Process Analysis. Using a SIPOC model to analyze a process
- Case study and Workshop #2: Digital transformation. Identify some of the consequences and trends impacting the finance function because of digital transformation and use of tools like RPA
- Case study and Workshop #3: Sources of Waste. Identifying sources of waste in a business process using the 8 MUDAS
- Case study and Workshop #4: Linkages of LEAN to the Balanced Scorecard. Build a coherent and aligned Balanced Scorecard using the Kaplan & Norton 4 quadrants, plus indicators for ESG and Governance not imagined in the K&P model.
NOTE: This course description has been revised and reflects updates for 2025. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- September 29, 2025, 8:30 a.m. - 12:30 p.m.
- October 1, 2025, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants will be able to:
- Increase awareness of how LEAN concepts can be applied in the support functions of the organization, specifically in the finance function.
- Recognize opportunities to help organizations grow while successfully keeping costs of support functions as efficient as possible.
- Explore how RPA is creating significant opportunities to improve many non-value adding functions of the organization.
- Specifically, this course is intended to provide hands-on cases and examples so that participants are familiar with the use and implementation of the LEAN toolbox.
Who Will Benefit
This seminar will be of benefit to those who occupy roles in the financial management function of the organization, its risk management, or its governance.
- The seminar is oriented to all levels; those beginning their careers in the management of the finance function, new controllers and directors of finance, and seasoned professionals looking to explore emerging issues related to internal controls.
- This seminar is oriented towards SME organizations, but the material is of benefit to all organization types including not-for-profit organizations.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course if for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Melanie E. Russell, CPA, CA, CBV, CFE, CIM, CFF, ABV – her current practice focuses on business valuations, litigation support and dispute analysis, financial/forensic investigations, corporate finance and education. She has qualified as an expert witness in the areas of valuation, forensic accounting, income analyses and loss of income calculations in a number of cases in the Ontario Court of Justice, the Ontario Superior Court and the Federal Court of Canada. She has also acted as an accounting expert in arbitration, mediation and other alternative dispute resolution proceedings (e.g., collaborative family practice), and negotiated a number of buy/sell transactions. She has taught at various institutions, authored various articles and professional material, and has had a number of years marking, authoring and co-ordinating professional examinations including the CICBV Membership Qualifying Examination.