Survey: CFOs Cite Greater Focus on Strategic Planning In Last Five Years



    TORONTO, July 23 /CNW/ - Finance executives are acting as a key business
partner and advisor to the chief executive officer, a new survey suggests.
Close to one-third (30 per cent) of chief financial officers (CFOs) surveyed
said the most significant change in their roles over the past five years has
been an increase in strategic planning. Eighteen per cent of respondents
indicated they have taken on an expanded leadership or management role within
the company.
    The survey was developed by Robert Half Management Resources, the premier
provider of senior-level accounting and finance professionals on a project and
interim basis, and conducted by an independent research firm. It was based on
telephone interviews with more than 270 CFOs across Canada.

    
    CFOs were asked, "In which one of the following areas has the role of CFO
changed most significantly over the last five years?" Their responses:

    More strategic planning .......................................  30%
    Expanded leadership or management role ........................  18%
    Focus on increasing profitability .............................  14%
    Increased focus on corporate governance initiatives ...........  11%
    Increased interaction with other departments ..................   8%
    None/don't know ...............................................  16%
    Other/refused .................................................   3%
                                                                   -----
                                                                    100%
    

    "The accounting and finance functions play a prominent role in business,"
said David King, executive vice-president of Robert Half Management Resources.
"The CFO is in a unique position to guide strategic planning and risk
management decisions affecting diverse and wide-ranging areas of the company."
    King also noted the increased level of responsibility for financial
executives. "The CFO has been specifically identified as one of two executive
officers who must certify their company's compliance with corporate governance
and financial reporting rules and regulations; and, many are directly involved
with managing and reporting directly to their firm's board of directors."

    About the Survey

    The national study was developed by Robert Half Management Resources. It
was conducted by an independent research firm and is based on more than
270 telephone interviews with CFOs from a random sample of Canadian companies
with 20 or more employees. For the study to be statistically representative
and ensure that companies from all segments are represented, the sample was
stratified by industry and employee size. The results were then weighted to
reflect the proper proportions of employee size within each industry.

    About Robert Half Management Resources

    Robert Half Management Resources has more than 140 locations worldwide
and offers online job search services at www.roberthalfmr.com.

    EDITOR'S NOTE: To schedule an interview for local commentary in Montreal,
Toronto, Calgary or Vancouver please contact Jim Dimovski at 416-350-5201,
extension 62024.





For further information:

For further information: Jim Dimovski, (416) 350-5201,
jim.dimovski@rhi.com


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