CFOs have become central to helping their organizations navigate an increasingly complex business world.
Why the role of CFO’s is changing?
According to International Federation of Accountants (IFAC) discussion paper the role and expectations of CFO are continuously changing. As a result, there is significant growth in demand and expectations of finance leaders. They have become central to helping their organizations navigate an increasingly complex business world.
Earlier CFO’s were viewed typically as the guardian of the financial health of an organization. Overseeing and implementing adequate financial controls infrastructure, governance, compliance, and business ethics. Now the role of CFOs has somewhat changed. CFO’s are expected to participate in driving the organization toward achieving its objectives, increase their support of strategic and operational decision making in a “business partnering” capacity. In short, the role and function of CFO is now evolving from a transactional and cost efficiency focus to an increasingly value-adding strategic focus.
What are the expectations from a modern CFO?
The role of CFO revolves around following key principles:
- Be an effective organizational leader and a key member of senior management,
- Balance the responsibilities of stewardship with business partnership,
- Act as the integrator and navigator for the organization,
- Be an effective leader of the finance and accounting function, and
- Bring professional qualities to the role and the organization.
However, the challenge for small and medium sized enterprises is that they are unable to afford a person with such attributes, who can lead their finance function and provide their organization a strategic direction.
What core areas our CFO services cover?
We deploy professionally qualified accountants i.e. CA (CAANZ), CPA (Australia), IPA (Australia), CA (ICAP), and CMA (ICMAP) to serve varying needs of our clients depending upon the degree of outsourcing. This leaves room for business owners to focus on their core business activities and while CFO takes care of the rest. We offer our CFO services in the following broad areas:
- Strategic planning
- Establishing / upgrading finance function
- Selection and implementation of accounting software
- Financial accounting & reporting
- Performance management (formulating KPIs etc.)
- Regulatory compliance
- Corporate governance
- Board reporting
- Risk management
- Project management
We are helping businesses achieve objectives through support in strategic, financial and operational decision making.
Queensland: Brisbane, Cleveland, Logan City, Beenleigh, Gold Coast, Ipswich, Sunshine Coast
New South Wales: Sydney, Paramatta, Bayside Council (Rockdale), Shellharbour