Clarification about roles and responsibility of cfo.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 November 2014 Please someone clarify me about the roles and responsibility of a CFO as there is no explanation in new Companies Act,2013.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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25 November 2014 The main emphasis of the CFO’s role is typically as the guardian of the financial health of an organization, overseeing
and implementing adequate financial control
infrastructure.
In addition to overseeing the F&A
function and related information systems, CFOs’ responsibilities typically include:
• demonstrating ethical leadership and business integrity;
• balancing short-term concerns and pressures, such as managing cash, liquidity, and profitability, and long-term vision and sustainable organizational success;
• fulfilling stewardship responsibilities by ensuring effective compliance and control and responding
to ever increasing regulatory developments,
including financial reporting, capital
requirements, and corporate responsibility;
• sharing strategic leadership responsibilities with the CEO and other senior managers and ensuring the F&A function supports the business
at a strategic and operational level;
• driving and managing change and innovation within the organization; and
• engaging and communicating effectively with colleagues, investors, customers, suppliers, regulators, and other internal and external stakeholders.