Experts task CFOs on resilience, diligence

Chief Financial Officer (CFO) of Access Holdings Plc, Morounke Olufemi, said CFOs will need to equip themselves with the necessary tools and skills to adapt to their environment.

Olufemi said CFOs need to make up tools to drive the goals of business for optimal growth. She stated this yesterday in Lagos at the CFO luncheon series four organised by the Franco-Nigerian Chamber of Commerce and Industry (FNCCI) in partnership with Mazars.

According to her, CFOs must champion inclusivity and disparity, while upholding government standards. She said CFOs must collaborate with other departments of the company to ensure inclusivity in the company. She said the CFOs’ role cuts across the financial regulatory framework but drives sustainability in the workplace.

In a panel discussion, Audit Partner, Mazars, Osamudiame Adams, said the core existence of organisations borders on sustainability. According to him, when CFOs do the right things, the cost comes as secondary for them.

Director, Consulting, Mazars, Fiyinfolu Okedare, said there must be significant investment in cybersecurity, stating that CFOs need to take note of the information technology and information of technology.

He said social engineering patterns need to be understood by the CFOs. Deputy Registrar of the Institute of Chartered Accountants of Nigeria (ICAN), Dr Ijeoma Anaso, said the institute encourages members to ensure ESG in their companies. She said ICAN plays a role in the adoption of IFRS, while providing support for capacity building.

Academic Director for CFOs, Lagos Business School (LBS), Patrick Akinwuntan, said CFOs’ role is to drive maximisation of value, saying CFOs’ function is the best route to execute leadership.

He said CFOs need to understand the responsibility of the CEO of the company to direct managers in the right direction.
Earlier in his remarks, the Consul General of France, Laurent Favier, said the summit is committed to the growth of businesses in Nigeria.