The main purpose of an audit is to satisfy an organisation’s shareholders, but is that the only benefit to the finance function? Lauren Razavi finds out.
With the purpose of an audit being enshrined in law – to provide assurance to shareholders – it is entirely understandable that most dialogue around audit is concerned with what CFOs can do to guarantee smooth running of the process. CFO training programmes often include sessions on what audit committees want from CFOs.
A recent Deloitte CFO Lab report on the subject included a wishlist of attributes such as strong partnering with CEOs and other leaders, confidence in finance talent, command of key accounting, finance and business issues, insightful forecasting, effective risk management and clear, concise stakeholder communications.
This is an extract from the Business & Management Magazine, Issue 256, July/August 2017.
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