ISCA CFO Seminar: Unlocking Hidden Cash within your Working Capital
More than 60 CFOs and finance professionals packed the well-received ISCA CFO Seminar titled Unlocking Hidden Cash within your Working Capital on October 9 at OCBC Centre. Jointly organised with OCBC, the presentation discussed pertinent issues such as macro-economic outlook and its impact on businesses.
In light of the potential increase in interest rates, members benefitted from learning how companies with effective cash flow management practices not only generate more cash from their businesses, they are also less dependent on external financing. This increases their flexibility to take advantage of opportunities as they arise, or when they have to respond to external competition.
Economic uncertainty, increasing regulatory demands and stakeholder expectations are bringing rapid change to businesses. Just like in a high-jump competition, the bar keeps getting raised. Undeniably, this makes it especially challenging for all businesses. Against this backdrop, how do CFOs who have to fill the big shoes of “strategic business partner to their CEOs” continue to stay relevant and create value for their organisations? How do CFOs balance long-term sustainability with short-term payouts? While there is no one-size-fits-all formula, here are some key traits of award-winning CFOs.
ISCA CFO Survey : Understanding the Needs and Competencies Required of a Modern CFO
The Institute of Singapore Chartered Accountants(ISCA) has released its survey findings involving 315 CFOs and CFO aspirants in Singapore. The ISCA CFO Survey, conducted by ISCA Research in September 2012, is part of the Institute’s overall CFO strategy to understand the needs of members who are CFOs and CFO aspirants.The findings clearly re-affirm the increasing perception that the CFO’s portfolio has expanded in breadth and depth to beyond technical areas and their existing role as financial stewards, into areas such as strategic business planning and risk management. The study also identified critical competencies crucial for this professional segment. The findings will facilitate ISCA in rolling out more targeted programmes to foster professional development and enlarge the talent pool of CFOs and CFO aspirants.