‘CFOs need to be conscience keepers for any organisation’

CHENNAI: Chief financial officers (CFOs) must be responsible for developing a culture of ethical behaviour within an organisation, said TT Srinivasaraghavan, former MD, Sundaram Finance, on Thursday.

Speaking at the CII-organised TN Finance Conclave here, he said “Change is the only constant. If you think about change today, its geopolitical, economic, social, climate, technology and of course regulations to start with. As CFOs, one must develop a culture of ethical behaviour within the organisation. Also, as a CFO, your role is to be a conscience keeper for the business, for your CEO and your board and you will never go wrong.”

“Regulations are going to be here, and they are going to

get more stringent as there is a learning curve depending upon the changes in the environment and the role of the CFOs,” said Dr N Kamakodi, MD-CEO, City Union Bank, who was the chief guest at the conclave.

“The world has changed. Businesses itself has become a lot more complex. Despite these changes, India is still resilient. There are four points a CFO must consider in any organisation; managing risks Business Responsibility and Sustainability Report and raising of capital and the need to build soft skills,” said Srivats Ram, chairman, CII, TN and MD, Wheels India, in his special address.

“We are possibly one of the most regulated countries in the world today, and it is the task of the CFO to stitch all the regulatory authorities such as SEBI, Stock Exchanges, ICAI, GST, and a plethora of tax authorities together. It is CFO’s primary role to ensure all these are smoothly worked upon,” said Gopal Mahadevan, chairman, CII TN Finance Conclave 2024 and whole time director and CFO, Ashok Leyland, in his welcome address.