FinanceDirection

Boards of businesses around the world play a vital role in wealth creation and economic development. To deliver its strategy, the leadership of any organisation establishes internal structures and allocates staff to best suit the needs of the organisation. Of course, the needs of an organisation will change over time and as the board and senior management try to find more efficient and effective ways of managing the business.

Change impacts a finance function as much as other parts of the organisation. The role of a finance function and its leadership, the finance director, or CFO, should not be taken for granted.

The responsibilities of, and the resources allocated to, a finance function vary between organisations. The scope of activities, including the associated business systems that a finance function is responsible for and the other areas with which it is directly or indirectly involved, may vary substantially from organisation to organisation and across cultures. There is no ‘right’ model and no one country has necessarily achieved an optimum solution. Finance functions continue to evolve.

One aspect of the evolution of a finance function is the board’s expectations of the finance director. As the business and regulatory environment gets ever more complex, boards’ responsibilities will increase and their role will become ever more challenging. To rise to these challenges, boards need support.


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Contact us via email: financedirection@icaew.com