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CFOs Seek to Overcome Staffing Shortfalls to Meet Goals, According to AAFCPAs CFO Survey

AAFCPAs’ inaugural report uncovers key issues for CFOs

Behind Every Thriving Organization is a High-Functioning CFOBoston, Mass. (October 30, 2017) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, valuation, and business & IT advisory solutions, today announced the results of its inaugural CFO survey. The results are captured in AAFCPAs’ report, “Behind Every Thriving Organization is A High-Functioning CFO.”

The report, conducted in collaboration with The Boston Chapter of Financial Executives International (FEI-Boston) includes analysis from AAFCPAs’ partners, and highlights how sophisticated CFOs and senior financial executives are evolving to have wide-reaching organizational influence.

Key findings include:

  • 70% of respondents felt as though their relationship with their CEO is strong, yet 60% report some level of difficulty meeting CEO expectations.
  • 50% of respondents report their CEO relies on them most heavily for clarifying financial situations, as they are expected to serve as the CEO’s “right hand.”
  • 35% of respondents cited a pressure to increase profitability as the main driver for reassessing IT systems and processes, with the goal of achieving greater ROI from technology investments.
  • 55% of respondents felt as though their strategic, forward-looking mindset contributed to their career growth.

“The role of the CFO and financial executive continually evolves, and today is a key position for effective leadership of any organization,” said Matthew Boyle, partner at AAFCPAs. “In order to meet expectations, CFOs must be masters of managing multiple priorities, collaborative, adaptive to new technology, and have a high-functioning finance team behind them.”

The survey polled 250 senior financial executives across New England, with nearly 70% of respondents reporting more than a decade of experience at the Director level and above.

To download the full report, visit https://www.aafcpa.com/cfo-survey-report/

About AAFCPAs:

AAFCPAs is an attractive alternative to the Big 4 and National CPA firms. The firm provides best-value assurance, tax, accounting, and business & IT advisory solutions to nonprofit organizations, commercial companies, and wealthy individuals/estates. Since 1973, AAF’s sincere approach to business and service excellence has attracted discerning clients along with the best and brightest CPA and consulting professionals. AAF donates 10% of its net profits annually to nonprofit organizations.

AAFCPAs is an independent member of PrimeGlobal, Inc., the fourth largest CPA firm association in the world. These resources provide our clients with seamless national and global reach.  Our pay-as-you-use model is considered advantageous by our diverse clients who appreciate exceptional value.