Uncovering Fraud: A Young Auditor's Experience in Bondi

This chapter narrates a personal experience of an auditor in Australia who uncovers a major fraud case involving missing cash from gambling machines. It highlights the challenges of the investigation and the pressure of addressing such issues at a young age.

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In this episode, CJ sits down with Rob Paterson, CFO of Employment Hero, to talk about smart growth, why not all revenue is good revenue, and Australia's startup scene. They start by discussing when to turn down growth opportunities and which financial metrics are more distracting than helpful. Rob explains the challenges of holding people accountable when you are a growth CFO and how to be a Chief Reality Officer instead of a “CF-No”. He offers a view into the Australian startup ecosystem, highlighting what sets it apart, the challenges local founders face, and why global expansion from day one is a must. Rob also outlines his approach to forecasting and cost control, including how he applies the 80/20 rule to revenue, before sharing a wild fraud story from his auditing days.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(02:18) Sponsor – Vanta | Tropic | NetSuite

(07:06) Not All Revenue Is Good Revenue

(14:09) Metrics: Overrated and Underrated

(16:14) Sponsor – Planful | Subscript | Rippling Spend

(20:18) Lifetime Value (LTV)

(20:11) Vertical and Horizontal P&L

(21:27) Chief Reality Officer: Holding People Accountable