Analysis Of CFO Role Change

It is hard to get inspiration that regulation will have a huge impact on the future role of CFO.

In the United States, the extensive "Dodd Franck bill" passed in July 2010 is undoubtedly the most important legislative reform since the great depression.

It aims to enhance accountability and pparency in the entire financial services sector, particularly in relation to capital financing and new reporting requirements.

The broader regulatory environment of the global economy has not shown signs of cooling down, from the persistent turbulence of the adoption of international financial reporting standards (IFRS) and accounting standards, to the development of the III Basel (Basel III) and the laws and regulations in line with the national conditions of various countries.

Social and environmental problems emerge one after another, thus affecting regulatory reporting requirements.

As companies expand overseas, the complexity of the relationship between management and regulation is also increasing. The change of regulatory environment will become a bigger problem.

CFO is becoming more and more necessary and has more and more responsibility to uphold and abide by regulations.

They are now investing more personal resources in handling regulatory affairs and lobbying policy makers to ensure that new regulatory requirements can bring benefits to enterprises.

Future CFO needs to prevent legislation that is too cumbersome and cumbersome.

They will need to lobby on behalf of enterprises, implement business processes and agreements that do not require more regulation, and influence the development of relevant policies.

They also need to make sure.

The financial function department has professional ability to solve regulatory problems.

The globalization of enterprises has played a role in CFO.

The composition of the Department has a significant impact.

This effect will continue to increase in the future.

Future CFO relationships will be global and often virtual, and informal conversations in the corridors will continue to decrease in the past.

Enterprises are rethinking their business models and strategic positioning.

Global experience will be a basic requirement for future CFO resume.

The basic quality of CFO will be the understanding and understanding of how to implement different business models in specific regions or countries in the face of different strategic challenges and situations.

Expansion has brought new pressures to businesses, such as how to finance new markets and ensure compliance with additional local regulatory frameworks and requirements.

The financial function department must have strong adaptability because it simplifies the different rules and regulations to the general financial activities of the enterprise.

We must arrange for the financial functional departments to best support the expansion of enterprises to emerging markets.

The tactical problem is one thing, and the relationship between culture and cross-border work is completely another matter.

As financial responsibilities become more and more internationalized, CFO needs to guide financial functions across different cultures, work practices, beliefs, languages and time zones, and have vision for them.

Global leadership will become the cornerstone of future CFO roles.