CPAs No Longer Have to Be CFOs When They Grow Up
“The Street doesn’t care about accounting functions any longer. They don’t get into the nitty-gritty anymore.” — Richard Bove, an analyst at Odeon Capital Group LLC, told the Wall Street Journal when asked why accounting expertise seems to be no longer required for the CFO role. According to data from Korn Ferry, only 36% of […]
She Didn’t Win Miss America, But Miss Missouri’s Appearance Was a Win for Accountants Everywhere
HEY did y’all know an accounting major appeared on Miss America 2.0 last night? Yeah, I wouldn’t have known either were it not for an astute GC reader excitedly tweeting us the news. Miss Missouri is an accounting major. She automatically has my vote. @going_concern #MissAmerica2019 — Pat Sheridan (@accountingninja) September 10, 2018 Waves HI, […]
Future CFOs, Partners Best Not Check Integrity at the Door
The following post is republished from AccountingWEB, a source of accounting news, information, tips, tools, resources and insight–everything you need to help you prosper and enjoy the accounting profession.
A strong moral compass can give high-potential managers a leg up the career ladder, according to the results of a recent survey.
One-third of chief financial officers (CFOs) interviewed said that, other than technical or functional expertise, integrity is what they look for most when grooming future leaders. Interpersonal and communication skills also ranked high, cited by 28 percent of respondents.
The survey was developed by Robert Half Management Resources, a provider of senior-level accounting and finance professionals on a project and interim basis. The survey was conducted by an independent research firm and includes responses from more than 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees.
CFOs were asked, “Other than technical or functional expertise, which one of the following traits do you look for most when grooming future leaders at your organization?”
Their responses:
• Integrity – 33%
• Interpersonal/communication skills – 28%
• Initiative – 15%
• Ability to motivate others – 12%
• Business savvy – 10%
• Other/don’t know – 2%
“History has shown time and time again the importance of ethics in business – even a single lapse in judgment by one employee can significantly affect a company’s reputation and its bottom line,” said Paul McDonald, senior executive director of Robert Half Management Resources. “Leaders who are principled and forthright inspire this same behavior in their teams, creating a culture in which integrity is a core value.”
McDonald pointed out that communication skills also are requisite as executives take on greater responsibility.
“Especially during difficult periods, managers must be able to promote open, two-way communication with their teams,” McDonald said. “Executives in companies that have moved successfully through the downturn understand the importance of listening intently to feedback from employees and are always on the lookout for this skill in potential leaders.”