The CFO evolution: from finance leader to Chief Value Officer
The CFO evolution: from finance leader to Chief Value Officer
Today’s Chief Financial Officer (CFO) stands at a crossroads. No longer just the custodian of financial data, the CFO is increasingly seen as an architect of long-term, sustainable value. As expectations shift, the role of a finance leader is taking on a broader, more strategic identity: that of the Chief Value Officer (CVO). But what exactly is a Chief Value Officer? Is the CVO an evolution of the CFO role, or something entirely new? And how is ‘value’ being redefined in today’s landscape?
To explore these questions, BDO and the ACCA have published Chief Value Officer – The Important Evolution of the CVO, drawing on insights from nearly 100 finance leaders across the globe – from fast-growing start-ups and scale-ups in the mid-market to global giants, and from public institutions to privately owned and PE-backed companies.
Here's what you can expect to find inside.
The dynamic shift from CFO to CVO |
What's inside:
A new definition of value
Value is no longer just numbers on a balance sheet. It’s purpose, impact and trust. It includes ethical leadership, environmental stewardship and inclusive growth – and it can look different for every stakeholder.
"It's not just financial value. It could be ethical value, or your contribution to the local community. It all depends on which stakeholder you ask."
UK-based CFO
Transition to strategic leadership
As business priorities evolve, CFOs are increasingly playing the role of business strategist, sustainability steward and storyteller, translating complex data into clear, forward-looking insights that shape the future direction.
"The CFO of the future is going to see themselves as an executive in the business, not the 'chief bean counter.'"
Australia-based CFO
Expanding skill sets
The scope of the CFO role continues to broaden. Today, many CFOs are developing strengths in areas like project management, change management, communication and strategic thinking. Keeping pace with and embracing sustainability, data analytics, AI and technology is also becoming part of the day-to-day reality for many finance leaders.
The reality of the CFO role:
Copyright © 2023 by the Association of Chartered Certified Accountants (ACCA). All rights reserved. Used with permission of ACCA. Contact insights@accaglobal.com for permission to reproduce, store or transmit, or to make other similar uses of this document.
Driving value through collaboration
As value creation becomes more multidimensional, collaboration across the C-suite and beyond is increasingly important. CFOs are looking to build stronger partnerships to influence decisions earlier, unlock new sources of value and help their organisations move forward with purpose.
"Regardless of our title,' it ultimately originates from our mindset, where we position ourselves, what we think we can do, and what we are willing to do."
CFO from mainland China
Explore the full report
Read the full report to see how the CFO role is changing, and why the Chief Value Officer could be the most important role in your organisation’s future.
Download Chief Value Officer - The Important Evolution of the CFO
Copyright © 2023 by the Association of Chartered Certified Accountants (ACCA). All rights reserved. Used with permission of ACCA. Contact insights@accaglobal.com for permission to reproduce, store or transmit, or to make other similar uses of this document.