Time is running out to start getting ready for the technology-transformed, new-world accounting profession that is evolving at an increasing pace.
Teaching staff about empathy and how to communicate with clients: a panel discussion at the World Congress of Accountants (WCOA) argued that these “soft skills” are just as important to the modern accounting firm as technical skills.
A CFO’s ability to build strong teams and develop successors is more important than ever. When CFOs of large North American companies were asked by Deloitte about the legacy they wanted to leave, they said, in overwhelming numbers, that they wanted to have had a strong influence on their company’s ability to perform well in the future and to have left things better than they found them.
Despite a trend toward internal CFO appointments, only a third of companies have succession plans in place, research shows. The corporate finance field is renowned for its discipline, but there’s one area where CFOs display what might appear to be an extraordinary degree of complacency.
Women account for 12.6% of CFO positions in leading businesses, according to analysis of C-suite volatility in more than 673 large companies, most of which are based in the United States, by executive search firm Crist | Kolder Associates. That’s nearly double the percentage from a decade ago.
Six CFOs from diverse industries reveal their top business objectives for 2018. Next year promises to be an exciting (and, possibly, very critical) year for many companies. Interest rates may finally head higher, workers may be tougher to find, valuations pricier, and consumer spending more robust. Or, as CFOs know all too well, none of that may happen.