Revisiting the Question “Should a CFO be an Accountant?”

The Chief Financial Officer (CFO) is an important role – and one that continues to expand and transform. As growing uncertainty and risk permeate every organization, and businesses begin to think about value beyond a shareholders’ perspective, the CFO role is an increasingly central one. These changes beg an important question: should the CFO be a professional accountant?

Questions on whether the other qualifications can make you a better-suited CFO came to light, rounding up all possible qualifications that can qualify you as a CFO. Globally, the CFO position is said to be evolving and the skills that are needed from a CFO are also found in other professions, thereby making the CFO role more open to not just accountants.

A recent survey done by the South African Institute of Business Accountants (SAIBA) to hear from South African professionals to find out whether they agree with the global perspective regarding the CFO role.

Here are the results of the survey:

Based on the majority of votes, South African professionals including SAIBA members still see the CFO position as a better-suited job for accountants. This shows a preserved culture of the CFO position in South Africa, although it may differ from the rest of the world. The evolving of the CFO role from a global perspective leaves regular accountants with competition, encouraging accounting professionals to upskill and get designated to stay ahead of the game.

Read more here.

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