Paul Thambar, FCMA, CGMA, Ph.D., associate professor of accounting at Monash University in Australia, explains the obstacles CFOs face when transitioning to a business partner role and where organisations are setting ambiguous and conflicting expectations for finance leaders.

A recent AICPA & CIMA report on the role of the CFO was informed by Thambar’s research.

Thambar also discusses the challenges and opportunities for CFOs grappling with digitilisation and how aspiring CFOs can adopt a “progressive” approach to career development. Thambar also was a guest on a 2019 FM podcast episode.

What you’ll learn from this episode:

§  Why CFOs sometimes struggle to transition into a business partner role.

§  Some ways organisations are setting ambiguous and conflicting expectations.

§  How relationship building can help CFOs grow in their roles.

§  The importance of understanding digitilisation at “two levels”.

§  What it means to be a “progressive” CFO.

This episode features Oliver Rowe, the editor-in-chief of FM, detailing the contents of the August digital edition of the magazine.

Rowe highlights several articles, including the first column by CIMA President Simon Bittlestone, FCMA, CGMA. He also discusses articles on digital transformation, based on a previous FM podcast episode with author David Rogers; working with images in Excel; and dealing with meeting anxiety.

Rowe explains how members can access the most recent edition of the online magazine as well as the issue library.

Previous podcast episodes focusing on 2024 digital editions:

n  February

n  April

n  June

What you’ll learn from this episode:

·         Details on an article about digital transformation — and why many of the steps in such a transformation don’t include technology.

·         Highlights of an Excel article by Liam Bastick, FCMA, CGMA.

·         Advice on preparing for and overcoming anxiety about meetings.

·         Options for accessing current and past digital editions.

Author Alison Taylor, a clinical associate professor at New York University’s Stern School of Business, explains the reasons business ethics has become a “confused topic” and why treating ethical problems as “tick-the-box PR” can make leaders look directionless.

Taylor’s book, Higher Ground: How Business Can Do the Right Thing in a Turbulent World, opens up a discourse on new ways to approach this complex landscape and highlights the importance of prioritising fundamental values, with the impact on human beings at the centre of decision-making.  

What you’ll learn from this episode:

• Why business ethics is a complex issue.
• The problems arising from conflating ethics and ideology and treating “CEOs as politicians”.
• How to cut through the noise by taking a people-centric approach.
• The reasons that leaders should avoid treating ethics and impact issues as public relations problems.
• The importance of understanding and focusing on your core values.

Nigel Franklyn, CPA, CGMA, a finance leader at Prudential, shares insight on “living our best life”, how small changes can make a difference in performance, and why lunch matters.

Employees thrive when managers show they care. In this episode, learn the value of engaged management and how managers can improve employees’ health as well as their work performance.

Hear how Mike Driver, FCMA, CGMA, the UK government’s finance head and Ministry of Justice CFO, aims to put finance at the heart of decision-making.

It’s not only in spelling that English differences emerge. Listen to UK and US language aficionados discuss some of the peculiarities.

Succession planning can strengthen organisations for the future, but focusing on the C-suite is a mistake, according to Shaara Roman, a consultant with wide-ranging global experience.

The CEO of a vineyard and winery speaks on getting up early, why she never watches TV in hotel rooms, and how tech is advancing winemaking.

To recruit and retain leadership talent that creates value, you need to know who your best people are. That’s not necessarily obvious, because your most valuable employees might not be the ones who get paid the most.

CIMA had small beginnings. Learn in this episode with CIMA historian Martin Farrar how it has grown over 100 years into the organisation we see today.

Hear Sandy Cockrell, CPA, managing partner of Deloitte’s CFO programme, share how CFOs can manage through the era of digital transformation.

Leadership expert, author, and academic Graeme Findlay describes the voices of leadership and how leaders should use them in order to be successful.

This episode features an occasional host of previous FM podcasts, Oliver Rowe, who is editor-in-chief of FM.

Rowe explains how members can access the most recent edition of the online magazine. He also details some of the articles, including those by AICPA & CIMA leaders.

Resources:

n  The page for members to access FM editions.

n  The public link for FM magazine, featuring news, podcasts, and more.

n  A previous, ethics-focused FM podcast episode hosted by Xose Lumor.

What you’ll learn from this episode:

·         Details on the frequency of FM editions.

·         Two paths for members to access the content in the editions.

·         An explanation of the fraud triangle and highlights of Xose Lumor’s article on the topic.

·         More on Rhymer Rigby’s career-focused article about dealing with the departure of the boss who hired you.

·         One article’s practical advice on leading digital strategy.

CFOs are quickly becoming more central within the corporate structure but have a lot of work to do as their roles expand and technology transforms the role.

In part two of a conversation with management coach Mary Legakis Engel, learn about how strong leaders are often adept at listening.

What makes a leader “legendary”? Management coach Mary Legakis Engel has a few thoughts and an explanation of leadership types in this podcast.

To lead others through a time of rapid change requires an understanding of why change is painful to many people, says leadership coach Sarah Elliott, CPA. Elliott offers suggestions for inspiring others to tackle that pain.

Finance professionals who take time to learn about others can more effectively get their message across. Kristine Lemanski, CPA, CGMA, explains the importance, using examples from her work experience.

Donny Shimamoto, CPA/CITP, CGMA, talks accountant superpowers and the importance of influencing skills in this episode.

The UK’s future trading relationship with the rest of the EU remains to be shaped — one aspect of the uncertainty surrounding Brexit. Hear more about what the future holds for those inside and out of the UK in this podcast with Jeremy Hawkins, senior European economist with Econoday.

“You’re going to have setbacks” when chasing goals, says Jo Hunter, ACMA, CGMA. Listen to her discuss a major goal: making the 2020 Olympics in hockey.

Kevin Bryant, CEO of social media consultancy Educated Change, offers social media strategies for boosting career opportunities.

What is the triple bottom line, and how does it relate to reporting on six vital capitals? Martin Thomas, FCMA, CGMA, a former executive with Unilever, shares more on those and other topics.

Andrew Harding, FCMA, CGMA, chief executive—Management Accounting at AICPA & CIMA, made the trip to Orlando, Florida, last week to continue in the knowledge sharing that occurs at the Future of Finance Summit, a US event in its third year and one with companion events in other parts of the world.

In this FM episode recorded at the summit, Harding shared key takeaways, insights into the optimism from businesses in China, and why one session topic took him back to his days as a coach on the football pitch.

He also offered a succinct, three-pronged message for the profession in 2024.

What you’ll learn from this episode:

·         The importance of “learn, unlearn and relearn” for finance professionals.

·         An explanation of the T-shaped model for skill and knowledge development.

·         Why a session on how women can gain appointments to corporate boards resonated with Harding.

·         His observation about China’s use of digital payments being different than in other parts of the world.

·         An explanation of the T-shaped model for skill and knowledge development.

·         The key trends affecting the profession in the new year.

An expert on large-company CFO searches shares insights into where executives are coming from and more in this podcast.

The Association of International Certified Professional Accountants’ Jonathan Key details the results of the global Salary Survey of CGMA designation holders and CIMA students.

Clare Haynes, a speaker, coach, and the founder of the UK firm Wildfire, explains the skills that emotionally intelligent leaders possess and how those skills can inspire employees.

A discussion about the elevated risks of third-party fraud and what finance departments can do to protect themselves.

Basic skills men and women can learn from each other to become successful negotiators.

Nandu Nandkishore, an executive fellow at London Business School, discusses why tech-driven disruption is going to continue and how global population changes will affect the world economy.

To keep your phone at peak efficiency, listen to advice from Byron Patrick, CPA/CITP, CGMA, managing director at US consultancy Network Alliance.

Have you ever been scared to make a mistake? You’re not alone. Dima Ghawi, a leadership coach, speaker, and author, discusses why we shouldn’t worry about being perfect and how we can build a personal brand.

Gillian Lees, senior director of governance and risk research at the Association of International Certified Professional Accountants, discusses steps that businesses can take to build trust over the long term.

Managers can use soft skills to set clear expectations and create a culture of accountability, according to leadership speaker, author, and coach Jeff Nischwitz.

A single cybersecurity breach can cost millions of dollars, so it’s critical that companies take a proactive approach and commit to shoring up their defences by making informed decisions and investments. An updated CGMA cybersecurity tool provides a place to start.

Ken Witt, CPA, CGMA, AICPA & CIMA's associate director–Management Accounting Research and Development, joins the FM podcast to discuss the latest trends in cybersecurity and share details about what the recently released tool offers organisations of all sizes.

What you’ll learn from this episode:

·         How digitalisation sped up by the pandemic has accelerated cyber risk.

·         The stunning price tag of a security breach and the areas that are most vulnerable to breaches.

·         The unique challenges facing small entities, and a small step they can take to combat their concerns.

·         Top “amplifiers” and “mitigators” that finance decision-makers should keep in mind.

·         How the CGMA cybersecurity tool can help IT pros and non-IT stakeholders alike.

Productivity expert and author Hayley Watts discusses the reasons people struggle with productivity and why digital correspondence is, despite its advantages, creating a challenging environment for communication. 

Watts spoke at the UK and Ireland ENGAGE several months ago, and she offers tips to help leaders and employees to channel productivity into their working lives. 

Watts, a co-author of How to Fix Meetings: Meet Less, Focus on Outcomes and Get Stuff Done, explains why technology can sometimes be more of a hindrance than an aid, why less is more when it comes to setting priorities, and shares strategies we can use to “get in the zone” in an era of urgency and distraction.

What you’ll learn from this episode:

§  Three common reasons why people struggle to stay productive.

§  Why our reliance on digital tools to improve communication can be antithetical.

§  How leaders and managers can respond to cultures that are enabling burnout.

§  Why flexible working is a challenging balancing act.

§  How to get a better understanding of daily goals and priorities.

New research from AICPA & CIMA, together as the Association of International Certified Professional Accountants, and the World Business Council for Sustainable Development (WBCSD) found a disconnect between the way leaders operate in day-to-day business and the long-term strategic initatives that keep businesses relevant and competitive amid constant change and transformation. 

Peter Spence, associate technical director of management accounting at AICPA & CIMA, and Andy Beanland, a former consultant with the WBCSD, provide further insight into why business strategies are becoming increasingly complex, and why a holistic, adaptive approach to performance is necessary to set businesses up for long-term success in an era of disruption.

Resource page

AICPA & CIMA  

What you’ll learn from this episode:

§  How integrated performance management can help drive better business decision-making.

§  Some of the reasons businesses today may fail to fully execute their strategies.

§  Why silo mindsets make for weak management systems.

§   Analysis of the differences between weak-matrix and strong-matrix management systems.

§  The importance of adaptability and innovation in an era of change.

§  How to create a performance culture that engages workforces.

This episode of the FM podcast is the start of an occasional series on the show. That series is called Beyond the Code.

In this case, that means taking a close look at the CIMA Code of Ethics.

Xose Lumor, manager, Advocacy and Professional Ethics – Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants, talks with disputes attorney Alastair Campbell, of the firm Level, about some of the ethical issues that accountants should be prepared to face. 

The vast majority of CIMA members comply with regulations, and misconduct is not the norm. But there are instances where ethical violations are reported or alleged. Campbell takes listeners through some of those examples and reminds accountants that being “unimpeachable in terms of your integrity” is one key way to make sure no ethics missteps occur.

Resources:

Campbell’s contact information: alastair.campbell@level.law and LinkedIn

Lumor’s contact information: Xose.Lumor@aicpa-cima.com and LinkedIn

More about Regulation 19 and the duty to notify

It makes sense that the themes emerging from the words of Phillipa Spicer, FCMA, CGMA, and Bruce Martin, ACMA, CGMA, are similar — they are sister and brother, both having ascended to CEO roles in the UK. Spicer set forward on a path to becoming a management accountant, and her younger brother followed.

In this conversation, hear about their early trips to the office while growing up in South Africa, the questions they got from students, and the advice they give about being your own self as a CEO.

What you’ll learn from this episode:

·       Martin and Spicer’s youth in South Africa (2:24).

·       The early exposure they had to office “work” (5:50).

·       Spicer’s reflection on “being really fortunate” to land a temporary role with Unilever (7:01).

·       How Spicer has applied her work in other sectors to the role as CEO of a charity (9:03).

·       Martin’s path to a role at Vodafone in the UK and then other businesses (12:26).

·       The top challenges that Spicer (17:42) and Martin (20:03) have overcome to make the move from finance leader to chief executive.

·       The siblings’ recall of speaking about career journeys with university students (Spicer at 22:25 and Martin at 24:57).

·       Advice from Martin (28:15) and Spicer (29:39) for aspiring CEOs.

·       Why Spicer advises budding leaders to “make your own kind of music” (30:54).

AICPA & CIMA research on the future state of the finance profession found emerging themes from global discussions with leaders around the world. Some of these themes include automation, hybrid working, sustainability, and moving beyond traditional finance roles.

Rebecca McCaffry, FCMA, CGMA, associate technical director at AICPA & CIMA, together as the Association of International Certified Professional Accountants, discusses the shift from traditional finance in a digital world, to a new era of soft skills as the value of people and connection takes focus.

What you’ll learn from this episode: 

§  How finance roles are becoming less fixed and more adaptable.

§  An overview of focus areas for management accountants and finance leaders across the globe.

§  The shift of focus from digital to soft skills, and why those skills are becoming more ingrained into the culture and priorities of accountants now.

§  How the younger generation is influencing change in the profession.

Christina Thomas-Lewin, FCMA, CGMA, is now assistant financial controller for a US company, but she got her start in finance in the UK. In this podcast episode, Thomas-Lewin discusses her career moves, the value of lifelong learning, and the meaning behind the phrase “block it out to knock it out.”

She also talks about the importance of delivering potentially negative feedback and how that skill can help both employees and managers.

What you’ll learn from this episode:

·         An overview of Thomas-Lewin’s career path.

·         The overseas destinations that she had in mind before moving to the US.

·         Why lifelong learning is one of Thomas-Lewin’s passions.

·         More about her advice phrase “block it out to knock it out.”

·         What she learned from being a trampolining coach.

Author Mike Drayton, a clinical psychologist and leadership coach at Saïd Business School, University of Oxford, explains why certain people are more susceptible to burnout than others, how people can recognise the early signs of burnout within themselves and in the people around them, and why it’s important to stay “rounded”.

Drayton suggests tactics that leaders and professionals can adopt to establish firm boundaries, promote work/life balance within their teams, cultures, and themselves, and encourage professional and personal development. 

Drayton is scheduled to speak in October at UK and Ireland ENGAGE about the psychology of influence and persuasion. 

What you’ll learn from this episode:

§  Steps for managing burnout.

§  What behaviours can determine if leaders will be prone to burnout or not.

§  Two personality traits that make people more vulnerable to burnout.

§  Ways to set firm boundaries that prioritise work/life balance.

§  What it means to “strive for wholeness” and how to adopt that mindset.

This episode of the FM podcast focuses on the newly updated Global Management Accounting Principles (GMAPs). The principles, first released nearly 10 years ago, provide a framework for management accountants. The most recent version updates that framework to reflect new business realities. David Hackett, an AICPA & CIMA technical manager, looks back at the previous version of the GMAPs and explains some of the key updates.

The GMAPs, scheduled to be featured in detail at a session Wednesday at AICPA & CIMA ENGAGE 2023, are designed to lead management accountants and their organisations to better decision-making.

What you’ll learn from this episode:

·         An explanation of the GMAPs.

·         A timeline of the most recent update to the GMAPs and some of the changes that spurred the update.

·         Some of the external factors leading to a need for more agility, according to Hackett.

·         How a management accountant can use the GMAPs to solve problems.

·         The GMAPs’ application to wider business and not just finance.

Grace Baxter, ACMA, CGMA, initially thought she would pursue a career in physics. But she’s happy with the switch she made to accounting, where she became CIMA qualified and later landed a role at the UK Department of Environment, Food and Rural Affairs (DEFRA).

Baxter is now head of management reporting for DEFRA, and she also serves on a CIMA regional advisory group, service that helps her gain perspective from other finance professionals.

Baxter shared advice to aspiring accountants about perseverance and trying different roles in this episode of the FM podcast.

What you’ll learn from this episode:

·       An overview of Baxter’s path from a physics degree to her role at the Department of Environment, Food and Rural Affairs.

·      Baxter’s thought on the influence of finance on day-to-day business decisions.

·      The value Baxter has found in both CIMA qualification and the CGMA designation.

·      The part of Baxter’s early training about which she said, “I wanted to cry.”

·      Baxter’s advice to aspiring finance professionals about perseverance.

Genevieve Hawkins, a business leader based in Melbourne, Australia, had a previous career in occupational therapy. That’s one part of her background that contributed to the decision to write a book about workplace mental health.

Hawkins said that, in the past, most organisations left mental health to the employee. That’s changing, but it can change more. In this podcast episode, to recognise mental health awareness in the month of May, Hawkins explains simple ways that leaders and companies can create a sense of belonging for staff. She also addresses how managers can “understand their shadow”.

What you’ll learn from this episode

•  The reasons Hawkins decided to write a book about mental health in the workplace.
•         Her explanation of the multiple layers of connection.
•         One aspect of working from home that is good for Hawkins’ mental health.
•    Why Hawkins said that the move to remote and hybrid work has been both a benefit and an obstacle to employee mental health.
•   What Hawkins means by understanding “our shadow”.
•     A Stephen Covey quote that stands out to Hawkins.

Jeremy Osborn, FCMA, CGMA, wants to make sure finance professionals are prepared for all that's coming their way. Osborn, AICPA & CIMA's global head of ESG, joined the FM podcast for a two-part discussion on the rising importance of ESG initiatives.

 In part one of the interview, Osborn explained why ESG, along with related auditing and assurance opportunities, is becoming mainstream. In this part, he discusses his early interest in ESG topics, describes the current landscape of ESG reporting, and shares three reasons people take ESG seriously.

 Osborn also explains how ESG has had a role in the shift that has happened related to understanding a company’s value.

 What you’ll learn from this episode:

  ·       An overview of the reporting requirements of the UK’s Task Force for Climate-related Financial Disclosures (TCFD).

·       How activities such as skiing in Switzerland have been affected by climate change.

·       Why sustainability-related concerns are no longer simply “a risk to be managed”, according to Osborn.

·       How an understanding of ESG information can shed light on the value of an organisation.

·       Why the growing importance of ESG is, according to Osborn, one of the most significant changes the accounting profession has faced.

It’s a big year for ESG initiatives, and Jeremy Osborn, FCMA, CGMA, wants to make sure finance professionals are prepared for all that’s coming their way. Osborn, AICPA & CIMA’s global head of ESG, joined the FM podcast for a discussion on the business reasons to pay attention to ESG, how he became interested in the topic about 15 years ago, and why he was excited to be part of a niche practice area that is today becoming mainstream.

This is part one of a two-part interview with Osborn. The second part will publish on 19 April.

This episode of the FM podcast features two leaders in the accounting profession globally. Alicja Dworowska, ACMA, CGMA, is finance director at Thermo Fisher Scientific and also a coach and mentor. Lindsay Stevenson, CPA, CGMA, is chief transformation officer at the firm BPM LLP and chair of the AICPA Women’s Initiatives Executive Committee (WIEC).

Role models for all, Dworowska and Stevenson are passionate about advancing women in the profession. That passion came through in this conversation, recorded in February and published to celebrate International Women’s Day. They spoke about mentorship.

The themes of sessions at the Future of Finance Summit, which concluded earlier this month in Austin, Texas, were global in nature: talent development, transformation of the finance function, and managing amidst uncertainty. There was, however, one comment from a speaker that stood out to Andrew Harding, FCMA, CGMA, chief executive–Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants.

The comment was about numbers, yet as Harding pointed out, the Future of Finance Summit had no sessions about numbers.