The looming spectre of protectionism over our profession is a threat to the global recovery.
Position | In business |
[ILLUSTRATION OMITTED]
On a recent trip to Singapore I was asked to give a speech on "the finance professional of the future". It was a timely opportunity to discuss the important role that management accountants can playas business partners, not only in helping to drive organisations through the recession but in creating success that's sustainable in the long term.
CIMA's latest research on the profile of the finance function confirms the fact that now, more than ever, organisations are crying out for finance professionals with the ability to both create real value and oversee corporate governance. As we all know, there is no better qualified finance professional for this dual role than the management accountant.
Such a demand creates two key challenges. The first is to ensure that employers place management accountants in situations where they can work as true business partners. The changes required for this transition may well take both parties out of their comfort zones. But a little pain now could lead to great gain in the future. Management accountants are renowned for their analytical skills, but they must develop the soft skills necessary to ensure that their voices are heard.
Several FDs I have spoken with recently have noted that too often their team members lack assertiveness. To succeed as business partners, we must have the confidence not only to comment on our findings but to provide forthright insight. This is a two-way street, of course: business partners will realise their full potential only if their organisations give them the chance to develop these skills in the first place.
One of the most valuable insights that CIMA accountants can offer as business partners is in the realm of risk management. We are at the cutting edge of this discipline. Understanding, managing and mitigating risk is...
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