The CFO of MIT45, Debbie Lee, has been instrumental in the development of the accounting and finance department over the past year leading to passing the 2-year unqualified PCAOB audit and opening the door for the next stage of growth.
Jan 28, 2022 – Salt Lake City, UT – The MIT45 lifestyle brand has achieved a new milestone few companies in the industry have achieved – a 2-year unqualified PCAOB audit. The company successfully passed the most stringent audit during the fall opening the doors to additional financing options and growth opportunities.
MIT45 has grown into a well-known lifestyle brand, particularly over the last 2 years, and is now recognized as the “Gold Standard” in the industry. Recently they were recognized in LA Newswire for the excellent corporate culture developed over the previous couple of years, and for providing a work environment of inclusion and diversity that has improved performance of the staff.
Now they can add an additional achievement to that list (and arguably one of the most important), passing a 2-year unqualified audit which opens the pathway to the next level of funding and growth.
Just over 1 year ago the management team brought in a new CFO, Debbie Lee, who has a long track record of creating exceptional results, and who has a reputation for being a tenacious financial executive and able to pull teams together and get the best out of them. Her track record shows a glimpse of her capabilities.
As a leader in the field, she has worked in the financial department for multiple Fortune 500 companies (primarily focused on FP&A for Unisys, Target, American stores, Steelcase Manufacturing and more). After a previous boss reached out with the desire to hire her again at his new company (3PL) he planted the seed of her progressing towards a CFO position. The next progression of steps solidified this move resulting in becoming the CFO for MIT45.
As Ms. Lee stated, “When I was hired, I knew the primary goal was to open as many financing options as possible including 2 sequential years of unqualified PCAOB audits to support the accelerated growth and to bring MIT45 to as many homes as possible.
“I immediately began to build the team and implement these structures bringing it to the same level as for Fortune 500 companies (including implementing systems, developing an ERP, and solidifying processes for AP&AR, Order to cash, Procure-to-pay, and inventory processes).
“With the team putting in a massive amount of work we were able to implement all these processes and systems while still preparing for the audit. In just over a year, we managed to pass the highest-level audit required (the PCAOB 2-year unqualified). This is a huge win for MIT45 and now we have a clear path to move forward and continue the rapid expansion in the industry.”
The ability to pass the PCAOB audit, especially within the short timeframe, is nothing less than impressive and has catapulted the possibilities and growth of MIT45 to the next level. This, in addition to the other numerous achievements, are just a few of the reasons MIT45 has become the leader in the industry. As they have continued to tweak their business model and expand into new areas, it appears there are no limits on what this company can achieve.