For the past few years, implementing new accounting standards has meant a long “to-do” list and a lot of hard work for the Chief Accounting Officer. But even as the responsibility for compliance continues, the CAO’s inbox keeps getting fuller. At many companies, other C-suite leaders are increasingly relying on CAOs to contribute to business transformation and strategy.
In a new KPMG report, CAO rising: How the chief accounting officer role is evolving, we discuss the challenges CAOs face, including during the current COVID-19 outbreak, and how this spells a golden opportunity for them to partner with top leadership and help transform the company. Based on our work with CAO clients as well as insights from a survey of 229 CAOs and their functional equivalents, we look at the changing role of the CAO and also some significant capability gaps they must overcome to thrive in a rapidly shifting business landscape.