KPMG Ghana, a leading accounting and auditing firm, is to begin a survey to collect data from Chief Financial Officers (CFOs) on measures to help improve the growth of businesses in the country.
The objective of the survey is to collect data from CFOs on issues they think were critical to enhance business performance and growth.
Particularly, the survey would focus on issues such as intelligent forecasting, risk management, market risk, fraud risk, corporate governance and technology.
Speaking at the launch, Partner-Advisor of KPMG, Andy Akoto, said the survey would be done annually to seek information from CFOs, who were critical agents in the growth of organisations.
He explained that the survey which would start in December and end in March 2016, would involve 500 CFOs across the country.
According to Mr Akoto, the survey would furnish KPMG with information on challenges facing businesses in the country and come with innovative solutions to address them.
He also said the survey would provide opportunity for KPMG to interact with businesses as well as CFOs.
Mr Akoto said the current global competition was expanding the functions of CFOs from cash handling to planning, forecasting and strategy to enhance business growth.
Professor Kwame B. Omane-Antwi, the President of the Institute of Chartered Accountants Ghana, in a presentation on the topic “Tomorrow’s CFO – the Key Success Factors,” urged CFOs to leverage on Information, Communication and Technology (ICT) tools to become competitive in the fast changing global economy.
He also entreated CFOs to be good stewards of the finances of their organisations and ensure that funds were used judiciously for the growth of their respective organisations.
“CFOs must be willing to enforce good governance and compliances and must be constantly on the lookout for new ideas and concepts,” Prof Omane-Antwi added.
A Partner and Head of Audit, KPMG Ghana, Anthony Sarpong, who launched the survey, said it would be done annually to collect data to enhance the steady growth of businesses.
He said the maiden survey would focus on general issues and the subsequent surveys would focus on specific issues.
Mr Sarpong entreated the CFOs to actively participate in the survey and give their input to make it a success.
A Senior Partner of KPMG Ghana, Nii Amanor Dodoo in his remarks, said the CFO survey was a global initiative of KPMG global aimed at engaging with CFOs who take management decisions meant to improve the growth of their organisations.
“It is our objective to develop a clear understanding of the business obstacles inherent in controlling large financial departments and how they can be managed and resolved,” he said.
Kingsley Asare and
Luther King Owusu-Amoah