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Tax & Advisory » Skills required by financial directors

Skills required by financial directors

Tenk LoubserThe roles and responsibilities of financial directors have changed dramatically over the last decade. As they face the effects of the past global financial crisis, they are yet again challenged by what their priorities should be in an ever-changing environment.

To meet these challenges, financial directors require particular skills. Research by the South African Institute of Chartered Accountants identified the five most important soft and hard skills.

The soft skills are:

  1. leadership,
  2. problem solving,
  3. communication,
  4. change management, and
  5. influencing and building relationships.

The five most important hard skills are:

  1. strategic planning skills,
  2. general business knowledge and trend analysis,
  3. risk management and business process knowledge,
  4. funds management, and
  5. analysis and evaluation techniques.

The research also indicates that the major risk areas facing financial directors comprise adequate capital provision, risk, risk management and liquidity, while their challenges include the implementation of King III, strategic planning and risk.

Ons wens ons kliënte, assosiate en medewerkers graag vrede en vreugde toe gedurende die komende Christusfees. Ons is oortuig dat, deur gesonde en positiewe samewerking, 2011 uitdagende geleenthede sal bied.

For more information contact Tenk Loubser on tel. 021 808 7220 or e-mail tenk@exceed.co.za.

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