Having a Chartered Accountant as Chief Financial Officer can help enhance corporate performance, a recent study by the Canadian Institute of Chartered Accountants (CICA) shows.
Each year the CICA reviews the positions of Chairman, CEO, president, CFO, COO and corporate secretary at companies in the Globe and Mail’s Report on Business™ (ROB) 1000 magazine to determine how many senior positions are held by CAs. The CICA report also reviews the financial performance of this group of 1000 largest publicly-traded Canadian corporations to assess the relative performance of companies with CFOs who are CAs.
“Once again this year our analysis indicated that companies with CAs in leadership positions such as CFO are rewarded with better corporate performance,” said CICA President & CEO David Smith, FCA.
The CICA study found that companies that have a CA in the CFO position outperformed their counterparts on several key measures, such as return on equity, return on capital and return on assets.
See full Press Release.
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