The Roles of a CFO

In essence, the role of a CFO is to collaborate with the CEO in helping a company achieve its goals. The CFO is also responsible for seeking investments from public financial markets or launching public offerings.

To qualify for CFO, you should be a member of a duly recognized organization of professional accountants or you must be a college graduate, with no less than 5 years of experience managing corporate finance (whatever it is, make sure to include it in your chief finance officer resume).

The chief financial officer is mostly responsible for showing the company's financial position as well as its financial projection. S/he is required to present information and analysis as well as his/her suggestions on issues with regard to the company's financial aspects.

The chief financial officer is also required to supply information needed for the Director's Report. The chief financial officer should prepare the financial statement, which presents the company's results and changes in equity with accuracy and clearness. Other tasks of the CFO include keeping track of the company's internal control system as well as guaranteeing that the company continues practicing corporate governance in a good manner .

The chief financial officer's duties are extensive, in that his/her reporting functions are both internal and external. The chief financial officer processes all necessary information needed by the Board of Directors for taking decisions concerning the company. In addition, the CFO fills external reporting obligations, approving financial accounts before these are sent to the company authorities concerned.

The chief financial officer plays a highly critical role in steering the company's direction. A chief financial officer should therefore exercise his/her duties with caution, given that the measure of the company's performance starts with him/her. The CFO must do the job with competency to produce financial statements that present accurate and believable data. Guidelines are featured in the Code of Corporate Governance.


Gail Esparan