Campaign Puts Spotlight on Vital Role of the CFO

To highlight and champion the work of the Chief Financial Officer, the Association of Chartered Certified Accountants is running a campaign throughout January 2013.

 

The aim of the campaign is to start 2013 with the spotlight shining on the vital role the CFO will play in the success of their companies as the year progresses.

 

"January, the beginning of the new year in many countries, is a good time to support the work of CFOs and the central role they play in business strategy," explains Helen Brand, chief executive of ACCA. "The campaign will also raise awareness of ACCA’s work on issues faced by the CFO, and to bring together a range of research and resources we have produced recently."

 

Jeff Thomson CMA, President and CEO of IMA, says the campaign links seamlessly with their joint work on the world of the CFO.

 

"Our latest report showed how the role of the CFO is changing, with CFOs surveyed for the report saying that cost reduction, financial control, and the emerging responsibility of forecasting are the top three priorities for today’s finance leaders," shares Thomson.

 

This thinking is bolstered by ACCA’s ‘CFO Month’ campaign interviews with Richard Moat, CFO Eircom Group, and Alan Johnson, CFO Jeronimo Martins, who are both members of ACCA’s Accountants for Business Global Forum, a business focussed think tank. For the campaign, both have commented on the main trends shaping the role of the CFO in the future as being:

 

1. Achieving sustainable growth in competitive markets
2. Ensuring investment decisions are robust, and that a company’s Board is guided well to manage risk
3. Dealing with regulation and increased scrutiny
4. Communicating better with customers and especially investors
5. Managing volatility in financial markets and coping with the Euro Crisis
6. Managing competition in the business world, which is increasingly driven by the internet
7. Surviving the demands of an increasingly globalised business world.

 

"Our expert interviewees say that the role of the CFO has become more complex than in the past. The CFO is being called upon to drive and improve business performance in a demanding business environment. We think it only right that as we start the New Year, we focus on what drives them, what their role is and the challenges they face," says Brand.

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