Preparing Future-Ready Professionals

The Role and Expectations of a CFO: A Global Debate on Preparing Accountants for Finance Leadership

Discussion Paper

Oct 10, 2013 | Exposure Drafts and Consultation Papers
39 Pages
ISBN 978-1-60815-163-9

All available Translations: French Spanish-Latin America

Don't see your language? Request permission to translate

Comments due by: Mar 17, 2014

Log in to Submit late comment

This Discussion Paper is designed to stimulate a global debate on preparing accountants for finance leadership roles, including chief financial officer (CFO). The paper features five principles that highlight the changing expectations, scope, and mandate of the CFO and finance leadership roles and recommends what action professional accountancy organizations and employers can take to prepare professional accountants for career progression to finance leadership.

These principles and recommended actions raise awareness of the implications for the education, training, and development of professional accountants. The Discussion Paper will be used as a basis to engage professional accountancy organizations, employers, and other stakeholders on sharing and enhancing approaches to preparing professional accountants for finance leadership.

The Discussion Paper is also important to the regulatory community, which strive for well-governed and managed organizations. The CFO is a critical part of a chain of actors—including the governing body, chief executive officer, audit committee, and auditor—all of whom share the responsibility for ensuring sustainable value creation, as well as relevant organizational reporting. The advantages the training, expertise, and experience professional accountants bring to the CFO role are not always recognized, especially professional accountants’ combination of ethical and technical mindsets with business acumen and organizational awareness.


Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.

Submitted Comment Letters

1. SELF-Professional enthusiast.  (India)
November 3, 2013

2. Tidemark  (United States)
February 8, 2014

3. Institute of Singapore Chartered Accountants  (Singapore)
February 10, 2014

4. Singapore CFO Institute  (Singapore)
February 11, 2014

5. Singapore CFO Institute  (Singapore)
February 11, 2014

6. Denise Silva Ferreira Juvenal  (Brazil)
March 9, 2014

7. Institute of Chartered Accountants Australia and CPA Australia  (Australia)
March 16, 2014


Related Resources


Get the latest updates delivered to your inbox

Subscribe now



View Boards Site


Translations & Permissions

Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.

IP permissions and policies

Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.