July 24, 2009
With business under more pressure than at any time in recent years, how is the new economic environment shaping the Chief Financial Officers (CFOs)’s role and affecting the perception of their value to their organisations?
The economic downturn has put senior finance executives in the spotlight – and they are now more involved than ever in strategy development and prioritising risk management.
Surveying more than 450 CFOs worldwide on how current global economic conditions are shaping the role and perceptions of today’s CFOs, new research from CFO Research Services and ACCA (the Association of Chartered Certified Accountants) reveals that CFOs are rising to the challenges brought about by global economic conditions, even though some will not have experienced such a severe downturn in their careers so far.
Organisations are looking for CFOs to bring their knowledge to bear on the wider business, using their analytical ability to understand and deal with risk and help shape long-term strategy. It is a tall order, but it seems from these findings, that CFOs are more than equal to the task. Despite the increasing demands on their time, we may well be witnessing a renaissance for the CFO, with their expertise extremely highly-valued and sought-after in these tough times.Author : cecilebonino