CFOs not up to scratch, say one-third of Asia Pacific CEOs

SINGAPORE - Nearly one-third or 32 per cent of chief executives feel their chief executive officers (CFOs) are up to it when it comes to running the company, found a new study.

The KPMG survey also found that they felt their CFOs were not helping enough with organisational challenges they face.

This is despite the fact that more than 70 per cent of 178 Asia-Pacific chief executives surveyed said they see a powerful future for their CFO.

The survey studied the views and expectations that Asia-Pacific heads had of their CFOs.

Some 39 per cent of respondents are from Asean, and 16 per cent are Singapore-based.

The survey found that 72 per cent of chief executives believe that the CFO's role will become more important over the next three years, as compared with other C-suite roles.

There are 80 per cent of chief executives from high-performing organisations saying that talent management is the most important aspect, but many believe their CFOs can and should do a better job of managing their teams.

The ability to think over a broader perspective and assuming a strategic approach are the most important attributes for a CFO, said 49 per cent of the respondents.

Technology will also have the greatest effect on the CFO's future role, noted 63 per cent of heads from high-performing organisations.

The stringent regulatory environment is impeding the CFO's ability to focus on other areas, said 43 per cent of respondents, while 42 per cent see the regulatory environment as an opportunity for competitive advantage.