For modern accounting professionals, having the technical skills needed for accounting is table stakes. However, today’s firms face challenges that they can only weather if their teams can bounce back from setbacks. How do we promote resilience among our staff?

The roles and responsibilities of the modern CFO have transformed in the last decade. Aside from bean-counting and number-crunching, CFO tasks and responsibilities have evolved as a response to disruptions in technology, regulatory compliance, and risk management.

Traditionally, the CFO function has largely focused on compliance and financial management, with tasks revolving around financial planning and analysis, risk management, and cost control. Today, we review the role of the CFO in business transformation.

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The volatility in today’s economic and business landscapes has increased the complexity of risks that businesses face. Increasing tariffs, political instability, technological disruptions, and other shifts have transformed the role of the CFO, making them less of a number-cruncher and more of a strategist. In this regard, CFOs should be involved in internal fraud risk management.

The roles and functions of a CFO in a company have evolved in the past decades that it’s no longer enough to have accounting expertise alone. For better CFO strategic decision-making, they should have access to better quality financial data. Besides having a strong business acumen, CFOs should also have solid data analysis skills to help them cut through the noise and make data-driven decisions.