The next quarter sees a number of risks that CFOs should have been considering come to a head. In the UK, the EU Referendum could see the country go it alone - with warnings coming from all areas, including the IMF, of potentially dire consequences for the global economy should they choose to do so. Financial leaders should already be preparing for such an eventuality, but a recent Deloitte survey suggests that many are failing to do so. Later in this magazine, Pedro Yiakoumi looks at what CFOs should be doing to prepare for another financial crisis.
Another issue many are concerned about is the rise of Donald Trump. While much of what comes out of his mouth is hard to reconcile with reality, he has touched on an issue that even his counterpoint on the left, Bernie Sanders, has touched on - how presidential campaigns are financed. The rise of the SuperPAC may have proved extremely beneficial to candidates like Hillary Clinton, but are they fair? Or are they driving a corrupt system that favors the interests of large corporations over the general public’s? Aaron Fraser investigates the problem later in this issue.
In order to deal with a turbulent economy, you need to have a good CFO in place. Many unicorns have managed to succeed perfectly well without one, but Kirsty Donavan argues that another financial crisis may expose this as the vulnerability that it is. The real question is not whether or not to employ a CFO, but what skillsets are necessary in the modern world - particularly when it comes to dealing with the rapid technological advancements taking place. These can often prove a blessing, but adoption of new technologies can raise more problems than they solve for finance leaders who lack the understanding to fully exploit them. In future, CFOs who put digital first will hold a tremendous advantage over those who don’t.
Last quarter, we also saw Internation Women’s Month. In this issue, Amy Hill considers the problem of a lack of gender diversity in the finance industry, and asks whether it is the masculine environment that makes it difficult for women to attain the high-level positions.
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