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.

SPONSORED REPORT

Why cybercriminals are targeting CPAs

This free report expands on the most commonly found scams, why education and specialized IT knowledge help to lessen security vulnerabilities, and why every firm should plan carefully for how it would respond to a breach.

PODCAST

How tax reform — and Excel — are changing the CPA Exam

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.