A new survey says that chief
financial officers' (CFO) roles have evolved dramatically and being good with numbers is no longer enough.
The survey by Ernst and Young questioned 251 of the world's most powerful business people. 97 per cent of respondents acknowledged that the role has grown broader with one third believing that CFOs do not have enough understanding of the wider issues their businesses face.
Norman Lonergan, global advisory services leader for Ernst and Young, said that it was not sustainable for CFOs to be pulled in all directions.
"They are being asked to be business partners to their CEOs and commentators to their boards, as well as their more traditional roles as score-keepers of financial performance and custodians of risk management," explained Mr Lonergan.
He advised that CFOs should build teams to share the workload, with different focuses on
financial and non-
financial information.
Ernst and Young recently reported that nearly 60 per cent of respondents in a new survey of business leaders thought that anti-corruption enforcement in business has become stronger over the past five years.
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