May. University Roundtable on Future Role of CFO at Kaunas University of Technology (Kaunas. Lithuania)
On 28 May 2013 the ACCA-sponsored roundtable on Future Roles of CFO was organized at Kaunas University of Technology in Lithuania. The discussion was based on ACCA’s research “The Future Roles of the CFO”.
The discussion was done by 12 graduate students of the Economics and Management Faculty. The purpose of the event was to discuss the challenges of financial transformation in Lithuania.
Students agreed that the issues presented in the report are very relevant in the context of Lithuanian economy. The main points of the discussion were:
- Dealing with regulatory institutions and policy makers ensures business benefits in Lithuanian economy
- Global adaptation of CFOs is very important for Lithuania
- Technological developments help to organize and manage the information gathering processes
- Risk management is one of key challenges of finance function in Lithuanian organizations
- Outsourcing or shared service is popular for SMEs while large companies find much risk in it
- The role of CFO should be expanded to become company’s representative communicating with key stakeholders
- Future finance function will increasingly be found in strategy creation, management and control processes
- The importance of social and environmental objectives is growing very fast in Lithuania
- Collaboration between finance leaders and universities (for example, contracts, talent awards, best students) will help to ensure talent development process
The full text of the outcome document is available from the related documents section to the left of this page.