Uganda: Acca Uganda, Deloitte Unveil 7th Edition of Chief Financial Officer Awards

Financial Officers have been tasked to focus on value addition rather than only focusing on numbers within the organizations they serve to fit into the future Chief Value Officer role.

This was revealed during the ACCA Uganda and Deloitte CFO Network Forum which served as a launch pad for the 7th edition of the Chief Financial Officer (CFO) Awards, to be held on October 12th under the theme “The Future Proof CFO: The Emergence of the Chief Value Officer”.

In his keynote speech, Sanjay Rughani FCCA, CEO Standard Chartered Bank Uganda encouraged the finance officers to automate their work and focus on serving their stakeholders to be able to deliver additional value to their organizations.

“The question we need to ask ourselves as CFOs is “Are we relevant?” Sanjay, said, adding, “Research has said that there is an evolution of the world and we all know the that profession is also changing. More importantly, what is changing is what our stakeholders are demanding from us.”

Addressing the CFO Network Forum held at the Kampala Serena Hotel, Charlotte Kukunda, the Head of ACCA Uganda noted that the finance officers are now expected to deliver more value to their organizations other than finance management and reporting,

“The CFO role is fundamental to organizations; the role continues to evolve as organizations change. Chief financial officers are increasingly adopting a value-centric approach in their work and this represents an evolution towards a chief value officer role. The role of a chief value officer (CVO) is one that is increasingly used in the context of the broader reporting that organizations are now undertaking. The concept of value is fundamental to the management of performance in organizations and its adoption is a key element in their path to a sustainable future,” she said.