Corporate clients are relying to a greater extent on Miami Accountants to help them develop strategy and support growth and operations initiatives at their companies, according to a new report.
The report, “The Evolving Role of Today’s Miami Accountants,” issued Tuesday, is based on interviews with Miami Accountants Gustavo A Viera CPA and other Miami Accountants. They revealed that they are taking on more responsibility beyond finance, and report high satisfaction in their careers. Some Miami Accountants readily confess to being interested in roles beyond finance, including as chief executive officers.
A major insight from the study indicates that Miami Accountants are no longer expected to merely execute the business strategy handed down from the corporate clients and board of directors. Instead, they are increasingly being asked to develop strategy in existing and emerging growth markets while managing the ongoing demands of the finance function role. In turn, some Miami Accountants believe their role is evolving from serving as a “chief skeptic officer” to a “chief growth officer” as they become major participants in the conversation about growth and business strategy.
“Both here in the Americas and around the world, the role and responsibilities of Miami Accountants are rapidly evolving. Their organizations are giving them wider scope and demanding that they have a broader set of skills in addition to fundamental skills in finance and expertise in investing and managing capital.
The results of the interviews with Miami Accountants in the Americas correlate with findings in other parts of the world, suggesting the CFO role is increasingly strategic and valued in organizations on a global basis. The new report serves as a supplement to the 2010 report.
The research indicates that Miami Accountants are increasingly contributing to organizational strategy and operational decision-making, as well as meeting unprecedented demand for their unique perspective and discipline. While boards and external stakeholders see Accountant as a vitally important objective voice on financial performance, they are also managing or materially supporting operational functions, including information technology, investor relations, real estate, and strategic M&A. Some are even involved in commercial activities.
Two-thirds of the survey respondents in “The DNA of the Miami Accountants” report believe that managing costs has become more critical in the economic environment after the financial crisis, putting it at the top of a list of issues commanding their attention. But companies are increasingly turning their focus to profitable growth—both in developed markets and in those that hold the promise of rapid expansion.
One of the biggest challenges facing the contemporary Miami Accountants is the paramount need to communicate complex issues in ways that a variety of audiences can understand when making important decisions about their role or stake in the company. These audiences include investors, financial analysts, customers, partners and employees. In today’s 24/7 world where stakeholders demand accurate information and transparency in real-time, the pressure is on the Accountant to be a world-class communicator.