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Accounting Financial

Park City, Utah, United States
August 09, 2018

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SANDRINE C. MCDONALD, CPA, CGMA, MBA Park City, UT 84060 • 435-***-**** •


• Skilled financial leader with more than 10 years of experience across multiple industries, including new technologies and telecommunication, healthcare services, mining exploration, sports medicine, R&D, real estate,, ski resorts, higher education, not-for- profit, ports management, manufacturing, food and beverage, luxury goods, private banking, and retail.

• Solid history of providing critical and accurate financial information and reports central to sound decision making, establishing effective accounting control systems, improving processes, and enhancing cash flow while expanding businesses internationally.

• Provide solid global business acumen with well-developed analytical, problem solving, communication, and organizational skills. SEC Financial Reporting / US GAAP / SOX / IFRS / FCPA / Budgeting & Forecasting / Accounting & Systems Control / Bilingual French / Process Improvement / Revenue Recognition / Financial Audit / SYSCOHADA / International Taxation Tax Maximization / International Business Expansion and Growth / Sales & Use Tax / VAT/ Client Relationship Management PROFESSIONAL EXPERIENCE

ClearOne Inc. (NASDAQ – CLRO), Salt Lake City, UT February 2016 – Present A communications solutions company that develops and sells audio conferencing systems and related products for audio, video, and Web conferencing applications.

Corporate Controller/Consultant ($48.6 million revenue) – Originally retained as a consultant in the face of ClearOne having lost their fourth controller in seven years and hiring a new CPA firm to re-audit the company's 2014 and 2015 financial results. Recognized by the Board of Directors for stabilizing the Controller position and finance team; within 14 months given additional responsibility supervising IT, Human Resources, Payroll, Internal Control and Financial Reporting with SEC.

• Financial Management: Centralized and assumed full control of all financial and reporting responsibilities since Q2 2016, including Forms 10-Q and 10-K. Improved the financial reporting documentation system to ensure smooth audits.

• Outsource Management/Internal Controls: Charged with outsourcing the Internal Control function to support changing the company’s SEC registrant status from a small to an accelerated filer. Oversee the outsourcing management company and interface with their onsite employees regarding the identification, monitoring, and testing of key controls.

• Process Improvement/Information Technology: Researched, selected, and implemented a new equity management application to manage the company’s common shares, stock options, and employees stock purchase plan (ESPP); managed the common stock repurchase program; coordinated transactions with brokerage firm, payroll, and DWAC firm. Worked closely with the finance team to plan and execute the implementation and rollout of a new sales and use tax application Avalara that had stalled under the previous Controller; went live January 2017.

• International Expansion: opened two new entities overseas, including ClearOne DMCC Branch in Dubai, U.A.E. and ClearOne in Shenzhen, China (both opened in 2017). New India entity was opened in January 2018. INTERNATIONAL FINANCE & ACCOUNTING CONSULTING SERVICES, Park City, UT 2014 – 2016 Senior Consultant – Guided clients in corporate/managerial finance and accounting, including annual, quarterly, and monthly financial reports, contracts, procurement, treasury, taxation, human resources, payroll, investor relations, external audits, and risk management. Clients included ClearOne, Peak Capital, The Promontory Conservancy, The Residences at The Chateau, Mountain Town Music, Niki Charitable Art Foundation, Nuzzles & Co., and Adopt A Native Elder.

• Financial Data Management: Worked with clients to identify internal sources of financial information to optimize collection, processing, and analysis of their data. Helped companies to implement, improve, and maintain financial control procedures.

• Financial Compliance: Guided businesses in complying with relevant national and international accounting standards, new taxation, or unique industry requirements while preparing financial statements or overseeing audits. Developed accounting manuals and implemented enhanced procedures.

• Accounting Systems: Supervised consolidation of three ERP systems into a unified mid-range property management software system (Yardi) that meets business model requirements and industry structure and facilitates future portfolio growth. Established and managed finance department, including talent acquisition and training. MUREX NORTH AMERICA, New York, NY 2013 – 2014

A leader in developing software for trading, risk management, and processing across all asset classes. The company has 13 offices worldwide with 1600 employees and a client base of more than 200 financial institutions in 62 countries. CFO Americas ($60 million revenue) – Provided cross-cultural expertise and financial leadership across the Americas and Europe. Promoted cooperation among team members, improving the flow of information and communications with other internal departments and external service providers. Identified and remediated significant issues caused by position being vacant for almost two years.

• Organization Management: Managed and provided leadership to the US accounting team and external accounting firms for all affiliates in the Americas, including Canada, Brazil, and Chile. Within a year successfully converted the US accounting books and accounting IT system to IFRS to reflect the group accounting policies; produced timely and accurate reporting of the Americas monthly, quarterly, and annual financial statements and consolidation packages to European holding company.

• Accounting: Effectively remediated accounting issues (including revenue recognition) and internal controls processes to provide timely and accurate reporting as well as control costs to ensure adherence to the Group policies and procedures manual. The implementation of formal policies resulted in effective monthly soft close and quarterly hard close; and for the first time established operating budgets, cash forecasts, and capital expenditures budgets for all entities in the Americas. SANDRINE C. MCDONALD, CPA, CGMA. MBA / PAGE TWO


• Americas Expansion: Managed all financial, accounting and tax-related matters for the Canadian, Chilean, and Brazilian affiliates. Collaborated with cross-functional teams (including legal, HR, IT) and played financial leadership role in supporting the company’s expansion, including opening of a Canadian division in 5 months and Chilean in 10 months.

• International Taxation: Provided financial expertise identifying tax issues pertaining to client contracts, intercompany agreements, and employee transfers for all operations. Special project: seconded contract for employees sent from the US to other Americas entities for client support.

LAYNE CHRISTENSEN COMPANY, Salt Lake City, UT 2011 – 2013 Publicly held company providing engineering services and products in four principal markets: water, mineral exploration, geo-construction, and energy services and production. Subdivision closed. Finance Manager, Africa, Mineral Exploration Division ($300 million revenue) – Charged with managing cross-border finance organization related to business conducted in Africa until Salt Lake City office closed. Leveraged multi-cultural background, French fluency, and international experience to improve communications, employee satisfaction, and executive support.

Financial Reporting: Assisted the Division Controller in reviewing the monthly financial reporting package to ensure effective translation between statutory accounting standards and US GAAP for consolidations. Monitored and reviewed annual division statutory and financial reports for Guinea, Burkina Faso, and Mali, under SYSCOHADA, Mauritania, and Congolese Accounting Standards (Plan Comptable Général or PCG), as well as International Financial Reporting Standards for Zambia and Tanzania.

• Taxation: As direct assistant to the Vice President of Tax, collaborated on preparing and reviewing the African division’s statutory corporate income, payroll, VAT, apprentice, and business license taxes. Achieved $8.3 million saving over various tax assessments originally received.

• Accounting Policies, Procedures, & Compliance: Initiated project to customize accounting policies and procedures based on each foreign country’s laws and regulations (accounting, finance, tax, labor) as well as for SOX and FCPA compliance. Reviewed procurement procedures and transitioned purchasing to designated vendors vs. street merchants, including electronic payments for 75% of Tanzanian vendor’s contracts. Reduced cash usage 40% by establishing new per diem policies. ATHLETIC REPUBLIC, Park City, UT 2009 – 2010

Privately held leader in performance sports training, offering science-based programs for athletes of all ages. Corporate Controller ($3.5 million revenue) – Recruited to reduce overall operating expenses, improve cash flows, and implement controls around the financial reporting function of the company. Reported to CFO, CEO, and Board of Directors. Maintained overall authority for the financial operations of the organization, budget preparation and administration, audit, taxation, accounting, monthly and year-end closing, account reconciliations, and journal entry adjustments.

• Performance Improvement: Creation and implementation of new purchase order resulted in shortened cash conversion cycle by 74%, immediate resolution of order errors, and timely delivery of products.

Intellectual Property, Franchise Accounting, & Royalties Revenue: Recaptured $500,000 in royalty revenue and interest income omitted over five fiscal years. Sent $400,000 in A/R to collection agency and supported Legal in preparation of lawsuit against franchise and license infringement.

KPMG, LLP 2002 – 2008

Senior Associate, Audit Practice, Salt Lake City, UT (2007 – 2008) – Led the planning and execution of external audit engagements. Clients included CHG Healthcare Services, Canyons, Deer Valley, Boart Longyear, The Woodside Group, Summit Financial Services, Komatsu, Mrs. Fields, Thinkorswim, and Protherics.

• Participated in conversion of financial statements from European and US GAAP to IFRS and from IFRS to US GAAP for purchase transaction.

• Completed Sarbanes-Oxley test work and prepared interoffice reporting package for multinational European headquarters to North American parent company.

Senior Associate, Audit Practice, New York, NY (2005 – 2006) – Relocated to US to assist with special IFRS/US GAAP assignments related to P&O Port North America and its subdivision Port Newark Container Terminals. Senior Associate, Audit Practice, Switzerland (2003 – 2005) – Supported audit practice of offices in Geneva, Lausanne, and Fribourg. Clients included Nestle, Gillette, General Mills, Four Seasons Hotels & Resorts, LeCroy, Quebecor World, Arena, Safinvest Private Asset Management, and Harry Winston.

Associate, Audit Practice, New York, NY (2002 – 2003) – Participated in A-133 audits for non-for-profit and nongovernmental mandates. Clients included EngenderHealth, Ludwig Institute for Cancer Research, Saint Vincent Hospitals, Sharp, and Iona College. EDUCATION & PROFESSIONAL DEVELOPMENT

Master of Business Administration, Major: Public Accounting ~ Pace University, New York, NY, 2002 Bachelor of Business Administration, Major: Public Accounting ~ Pace University, New York, NY, 2000 Member, The Association of International Certified Professional Accountants Member, New York State Society of CPAs (NYSSCPA)

Member, The American Institute of CPAs (AICPA)

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