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Event considers effects of global economic conditions on European markets

26 Oct 2009

Chief financial officers from Poland and the wider Central and Eastern Europe (CEE) region attended the CFO European Summit hosted by ACCA Poland in Warsaw on 15 October, following the success of the first event last year.

The summit provided an opportunity for delegates from a wide variety of industry sectors to network and discuss how the economic conditions of the past year have affected the operation of European markets. It also considered how companies can maintain their positions during such circumstances, and the extent to which effective strategies can be built in times of financial uncertainty.

The guest of honour was Weislaw Rozlucki, chairman of the Programming Council of the Polish Institute of Directors, founder and former president of the Warsaw Stock Exchange, who joined with leading experts to share experiences and advice during panel discussions focusing on the CFO as a company strategist, risk management and strategies that work, and whether the worst effects of the economic conditions have now passed.

In her welcome address, Helen Brand, ACCA chief executive, identified the many challenges currently facing CFOs, and how they could provide considerable opportunities for the future direction of the CFO.

'Our belief is that the CFO, indeed the entire finance function, is moving into a Golden Age - a time that we will remember decades into the future,' said Brand. 'There is an increasing demand for accounting and finance professionals who will explain where a business will be in a year's time. 

'The CFO is structurally only in second place to the CEO, and there is increasing importance on the detailed organisational knowledge which they have. In common with all accounting and finance professionals, CFOs must become more forward looking.'