Finance transformation: rethinking the CFO role |
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Today’s CFO is more immersed in strategy than ever before.
Top finance executives are increasingly involved in helping the organisation navigate critical passageways related to strategic events such as mergers, acquisitions, new business ventures (including investing in new products and alliances) and business process outsourcing.
At the same time, the rising number of corporate financial restatements has CFOs heavily focused on attending to core duties, such as accounting, reporting, and regulatory compliance.
These dual responsibilities are placing significant demands on the finance function and are forcing CFOs to rethink their role, especially in terms of how risk is managed in the finance department and throughout the organisation.
While some CFOs may be reluctant to take on yet another challenge, others are already undertaking major initiatives to transform the finance function so that it can effectively and efficiently contribute value to the overall organisation. Critical to the success of such an effort is managing risk intelligently.
This report examines how leading CFOs are dealing with this challenge and what approaches have helped CFOs take advantage of this opportunity to influence major change in their companies?
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