There is no hot button in the finance space like the CPA-non-CPA credential controversy for CFOs. Not intending to add fuel to the fire, but merely to point out a few recent articles that may – or may not – shed light on the credentialing trend.
According to an education organization, CPAs are in demand. In fact, the demand is actually on the rise. If more companies are hiring more CPAs on their finance teams and there is a succession plan in place, the pool is ripe for grooming those CPAs for future CFO roles. And, internal hires ARE on the rise.
A recent article in the Vancouver Sun said this …
CFOs often have access to the largest amount of information about the inner workings of a corporation. They are responsible for both budgeting and regulatory matters related to company finances; they are also under ever-increasing scrutiny due to tighter regulations and greater focus on good governance.
Maybe it’s just my small mind, but with the ongoing, and always increasing, strangulation coming out of government, it just seems to me that companies will continue to view CPA CFOs as a necessity.
While the CFO skill set is broadening, particularly from a strategy perspective, this rather interesting article was posted on CFO.com today … “Why Strategy Plays Second Fiddle For Finance Chiefs.” Perhaps this excerpt sums it up the best: “It’s [the CFO role] a unique dilemma.”
While I personally believe the CPA CFOs are still top-targeted talent, it’s a bigger issue for the candidate. It’s about being the right CFO in the right company doing the right things that fit with your skills sets, passions, and interests while adding value to the organization … irrespective of the credential.
I’m presenting the pre-conference forum at the CFO Corporate Finance Excellence Conference in Dallas this weekend. If you are one of my readers and you will be at the conference, please track me down and say hello!