Fractional CFO vs Chartered Accountant: what’s the difference?

"I already have an accountant, so why would I need a CFO?" It is a common confusion. The chartered accountant and the CFO have complementary but entirely different jobs. Comparing a CFO with an accountant is like comparing a pilot with a mechanic — both are essential, but they do not do the same job.

The accountant: the guardian of compliance

Its role is accounting and tax:

• Records accounting operations (invoices, bank, payroll)
• Prepares tax declarations (VAT, IS, CET)
• Produces the annual accounts (balance sheet, income statement)
• Ensures regulatory compliance
• Responds to tax audits

Its horizon is retrospective: it deals with what happened. Average cost: €800-2,000/month.

The Fractional CFO: the performance driver

His role is financial management:

• Implements the financial strategy
• Builds financial models and forecasts
• Manages cash flow and monthly reporting
• Supports fundraising and M&A
• Optimises tax (CIR research tax credit, grants)
• Structures management control
• Leads reporting to the board

Its horizon is prospective. At Iter Advisors: €3,000–8,000 excluding tax/month, depending on scope and profile.

The winning duo: accountant + CFO

The accountant provides the accounting basis — the CFO uses this basis to manage.

When does the CFO become essential in addition to the accountant?

• When you have more than 10 employees
• When you prepare for fundraising
• When your turnover exceeds 1M€
• When you have multi-country operations
• When you no longer understand your numbers

Explore our Fractional CFO engagements