Skip to main content
close search
site logo
Adam Jernigan's headshot
Adam Jernigan Founder & CEO

What triggered the CFO's role to begin transforming into what it is today?

Asked on Aug. 9, 2016

For years it has been well documented and discussed that the role of the corporate CFO has and is transforming. I am curious to hear from long-time CFO's on why they think this happened. Said a better way, what were some of the catalysts that forced the CFO role to evolve? I realize there is no "one reason" but in your opinion what was the trigger? Sarbanes-Oxley?

Answers

Wayne Spivak's headshot
Wayne Spivak President & CFO • August 8, 2016

Someone had to be the moral compass of the organization; and for many if not most organizations it fell to the CFO.

Scott MacDonald's headshot
Scott MacDonald President/Owner • August 10, 2016

I am not sure there is a concensus on what a CFO is, to be honest. Especially when I see a national headhunting firm advertise for a CFO and one of the duties is to reconcile accounts or have detail knowledge of specific general ledger programs.

But if you are talking about a "true" CFO that is a strategic thinker and leader, I am not sure things have really changed. SOX has certainly upped the personal liability factor, for sure. But a true CFO has always been an advocate of good internal controls.

In any event, I would like to hear some additional specifics of what you think has changed.

Want to join the conversation? Submit an answer or ask a question by emailing us at [email protected]

Submit an answer
Filed Under: Human Capital
Industry Dive is an Informa TechTarget business.
© 2024 TechTarget, Inc. or its subsidiaries. All rights reserved. | View our other publications | Privacy policy | Terms of use | Take down policy.
Cookie Preferences / Do Not Sell
This website is owned and operated by Informa TechTarget, part of a global network that informs, influences and connects the world's technology buyers and sellers. All copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. TechTarget, Inc.'s registered office is 275 Grove St. Newton, MA 02466.