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Accountability Is Now Charles River CFO; New Firm Expands Services and Leadership Team

Women-Owned Firm Emphasizes Services Addressing Strategic Transactions Such as IPOs, Mergers, Acquisitions

NEWTON, MA -- (Marketwired) -- 04/09/14 -- Accountability Outsourcing, Inc. today announced that it is now Charles River CFO, Inc. (CRCFO), a women-owned strategic financial consulting firm focused on strategic transactions such as IPOs, mergers, acquisitions and other exits. The new firm is addressing the gap between operational CFOs and the firms that audit them.

"In addition to bringing senior financial acumen to emerging companies, we're responding to the specific needs of the large audit firms and their clients by offering technical accounting experts to bridge the skill gap between the two," said Ann Vickers, chief executive officer. "We're the only firm with the experience and credentials on staff to successfully provide both types of services."

The new Strategic Transaction Services practice provides:

  • IPO readiness (technical accounting, audit preparation, SEC compliance)
  • Mergers and acquisitions (due diligence)
  • Divestitures

Industry Veterans Join the Team

The new firm's experienced team is focusing on these strategic transaction services, and industry veteran Connie Wright has joined the management team to lead the charge. Connie brings more than 30 years of professional services experience, previously working with companies including Deloitte and Resources Global Professionals, which went public in December of 2000.

Jeff Wright (no relation) is leading the Strategic Transaction Services practice. Jeff is a retired Audit Partner from the Boston Office of Ernst & Young. During Jeff's 25 years as an Audit Partner, he primarily served emerging and middle-market technology, manufacturing and services companies. He guided more than a dozen of these companies through successful initial public offerings, as well as many subsequent offerings, mergers, acquisitions, divestitures and other strategic transactions. In recent years, Jeff has specialized in the medical device industry, and served as an Officer and Director of the Massachusetts Medical Device Industry Council.

"Our company is well known for exceptional outsourced financial management to venture-backed life sciences and technology companies in New England," said Connie Wright, president. "Our clients will find that our new Strategic Transaction Services practice provides the same exceptional level of service and value. We remain committed to our mission and core values, delivering extraordinary client service and 'above and beyond' results."

Over the past 11 years, CRCFO has executed on more than a dozen IPO transactions, providing technical and strategic services to companies going public as well as those preparing for an exit. "We outsourced our complete accounting and finance function for the life of our biotech company, from inception to even after we were acquired by Celgene. CRCFO provided exceptional service throughout - outsourcing was a successful solution for us," said Jay Mohr, founder and former CEO of Gloucester Pharmaceuticals in Cambridge, Massachusetts.

About Charles River CFO
Formerly known as Accountability Outsourcing, Charles River CFO, Inc. (CRCFO) provides a complete solution for accounting and finance. The Company's services include strategic transactions (IPOs, mergers and acquisitions, divestitures and other exits), outsourced accounting and finance, and financial management resources. CRCFO offers emerging and growth companies the ability to outsource the complete accounting and finance function or strategically supplement existing capabilities. The Company also offers interim and temporary financial management resources. To learn more, visit http://www.crcfo.com.

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