The role of finance is rapidly evolving – expanding in scope, requiring new skills and competencies, and demanding greater collaboration with teams across the organisation, according to a new report from the Association of International Certified Professional Accountants (AICPA).

“Our research shows that the fundamental technical capabilities of a highly skilled finance professional remain ‘evergreen’,” says Ash Noah, vice-president and MD of Learning, Education and Development at the organisation. “Understanding investments, cash flows, profit targets and their deviations are our bread-and-butter, and combined with objectivity and integrity continue to make us a valuable contributor to our organisations. However, the increasing complexity of our world is pushing finance teams to grow out into new areas – from digital transformation to environmental, social, governance (ESG) initiatives, and the execution of business strategy to create sustainable value.”

Rebecca McCaffry, associate technical director, R&D, Management Accounting at the body, adds: “Finance professionals are breaking down traditional silos and becoming more influential players right across their organisations. To drive long-term value, positive organisational transformation, and resilience we cannot rely on our technical skills alone, but need to enhance our people skills and become better cross-functional collaborators. It is only then that we will be able to become the strategic value partners organisations truly need in the world of business as unusual.”