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CFOs Find Operations Experience to Be Most Valuable in Current Role MENLO PARK, Apr. 4, 2003 Financial executives with operations experience may have an on-the-job advantage, according to a new survey. Approximately half of chief financial officers polled said that aside from accounting know-how, possessing an operations background is most beneficial to their role. Information technology expertise followed, with 28 percent of the response. The survey was developed by global accounting and finance staffing firm Robert Half Management Resources. It was conducted by an independent research firm and includes responses from 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees.
CFOs were asked, "In your opinion, other than knowledge of accounting and finance, which of the following types of experience are most beneficial for CFOs to possess?" Their responses (multiple answers were allowed):
"CFOs frequently collaborate with senior managers from other departments to make appropriate financial decisions," said Paul McDonald, executive director of Robert Half Management Resources. "Exposure to the unique challenges of day-to-day operations provides a solid foundation for understanding how all business units impact the bottom line. In addition, a firm grasp of operations is an asset to CFOs of public companies as they work to comply with the executive certification and internal control reporting requirements of the Sarbanes-Oxley Act."
McDonald added, "Technology experience is critical for CFOs as well, particularly for those who oversee the IT function and evaluate spending on major initiatives."
2003 SmartPros Ltd. All rights reserved.
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