CFO Buzz is a news feature capturing top stories affecting CFOs. This feature is published Fridays so that CFOs can gain perspective over the weekend, allowing them to challenge themselves and think about how to improve their lives, careers and companies.
Here is this week’s CFO Buzz
1) What Audit Committees Want from their CFO
The CFO / Audit Committee (Board) relationship is very important for a CFO, especially if they want to keep their CFO job. Deloitte offers 7 great pieces of advice to CFOs when dealing with the Audit Committee. My favorite are the top 3 – No surprises, Partnering with the CEO and other leaders, and Confidence in finance organization talent. I’m certainly getting more calls on that last one.
2) Improving the Finance Department
Finance Transformation is all about transforming Finance. But how does a CFO lead to make sure that Finance actually transforms towards its ideal operating state? Here are some key steps to move forward and not get stuck when transforming Finance.
3) Planning for succession in a family business
This article was written by the AICPA for CPA practitioners advising their family business clients, but the advice is valuable to CFOs who act as advisors to the family owners of their business. How do you help your owners with these challenges?
4) More on Phising in Finance
We’ve discussed the impact of email scams targeting finance before. (Scamming the Finance Department. A Real Story) This article is interesting because it gets into some of the tactics scammers use to scam Finance departments. Think of this next time you click on a link in an email you receive.
5) Wait a Second…
We can all become better communicators (myself included). This article in Psychology Today points to the benefits of giving yourself a one second pause before responding to what another person has said. Like all great ideas, easier said than done (or not said).
Some of Samuel’s other CFO stuff this week
Top Tweet of the week