These strategic elements will help the ICFOA to advance its goals and create a robust international network of CFO professionals, contributing to the collective growth and success of the finance profession globally.

Building Foundations and Implementing Processes

During its initial phase, the International CFO Alliance (ICFOA) will prioritize expanding its membership base, crafting a robust organizational framework, and actively promoting the association. Key efforts will involve establishing specific objectives, creating detailed timelines, and implementing measurable metrics for the year 2024. This foundational work is essential for ensuring a strong and sustainable launch of the ICFOA.

Working Committees and Responsibilities

Establishing working committees is vital for the ICFOA. These committees should focus on CFO Certification, Automation, International Tax, Sponsorship and Partnership, New Memberships, International Observatory of Management Control/Financial Reporting, and Sustainability. The ICFOA can leverage the expertise from different member nations like South Africa, Italy, Portugal, Tunisia, Mexico, and France for these committees.

Governing Policies and Priorities

Prioritising critical policies in the formation stage is essential. The ICFOA should focus on a Board Charter, Terms of Reference, Partnership and Sponsorship Policy, and a General Data Protection Regulation Policy.

Branding and Public Image

Maintaining a strong brand image is crucial. This includes elements like an approved logo design and a consistent branding strategy across all communications and representations.

Membership Engagement and Administration

The ICFOA will set clear guidelines for new members, including the provision of admission documents that offer insights into their organisational structure, governance, financial transparency, membership demographics, role and influence in policymaking, stakeholder engagement, advocacy, and sustainability and ethical standards.

Mission and Vision

The ICFOA’s mission should focus on serving the public interest, strengthening the CFO profession, promoting international collaboration, advocating for global financial management standards, and supporting the development and recognition of CFOs.

Collaboration and Education

As an alliance of national CFO associations, fostering collaboration, education, and advocacy in the finance sector is key. This includes creating opportunities for sharing knowledge, best practices, and supporting innovation in financial management.