Eyeing the C-Suite


Controllers take note: You’re eight times more likely to reach CFO status by internal promotion than outside hire.

Among Fortune 500 CFOs promoted to their position, 33% were previously controllers, 19% were treasurers and 14% were senior financial generalists.
But in companies where the CFO was recruited externally, the position went to controllers only 4% of the time. Outside hires were most likely to be corporate or divisional CFOs (58%) or CEOs or general managers (17%).

According to executive search firm Korn/Ferry International, a controller’s key to CFO success lies in developing both financial expertise and participative leadership skills.

Source: Korn/Ferry International’s Navigating the Uncertain Road From Controller to CFO: The Leadership Imperative, www.kornferry.com.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.