Surprise. A new study says the CFO's job is harder than ever. But the news isn't all bad.
What do CFOs and godfather of soul James Brown have in common? Reportedly, they are hardest working "men" in their respective businesses. At least that's the conclusion of a new study that interviewed 60 CFOs from the largest companies in the U.S. and Europe.
Since passage of the Sarbanes-Oxley Act (Sarbox) in 2002, which heaps more accountability on CFOs than other executives, and the spate of accounting scandals that sent companies into bankruptcy and furious investors into shareholder lawsuits, the job description of CFOs has changed. But not all incumbents like their new role. "Hair, golf, tennis — all gone," quipped one CFO, when asked whether his new duties are taking a personal toll on his work/life balance.
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