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AIA

Boards target finance talent investment

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24th Jul 2012
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Employers are investing more in finance talent as the demand increases for CFOs and FDs to step up as business partners.

Despite a cut in training and development spending across more boards are looking to finance professionals to steer their organisations through the challenging economic climate.

Candidates working in finance “have never had a better opportunity” to progress their careers and make a mark on their organisation, according to a new report from CGMA.

In particular there is an increased demand for finance professionals to act as strategic business partners and help drive long-term sustainable success.

Here are some key stats from the report:

  • 72% agreed that the strategic responsibilities and higher profile of the CFO make the role a more attractive career aspiration
  • 68% report the ability to find the right skills is progressively more difficult the higher the roles are within the organisation
  • 40% reported high-end analytical skills as being critical for the future success of their organisation

In addition expectations of the finance function are becoming far more complex.

Ana Barco, author of the report and head of commercial product development at CIMA, said: “In the more forward-looking organisations, finance is evolving from a focus on the transactional and cost efficiency areas to a real strategic focus where it can make a massive impact.

“This evolution is influencing the capabilities that finance professionals now need to demonstrate and bring to an organisation.”

According to the report management accountants can apply this non-financial, qualitative information alongside the financial facts to inform decision making; drive strong performance; and are trusted to guide critical business decisions.

Earlier this year CIMA and the American Institute of CPAs (AICPA) formed a joint venture to establish the Chartered Global Management Accountant (CGMA) designation to further elevate the profession of management accounting.

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