Empowering Global Finance: The mission of ICFOA

South Africa, June 12, 2023 

The International CFO Alliance (ICFOA), a newly formed alliance of professional executive finance associations and institutes representing Chief Financial Officers (CFO) from around the world, held its inaugural board meeting at the LAICO Avenue Mohamed V Hotel, Tunis, on June 9th, 2023. The meeting focused on strategizing initiatives for the global standardization. 

Twelve (12) professional associations representing eighteen (18) countries in Africa, North America and Europe signed the founding charter to establish the “International CFO Alliance”. 

The elected executive committee is composed of France (Presidency) represented by Emmanuel MILLARD, President of the DFCG, Tunisia (Vice-Presidency) represented by Meriam BEN BOUBAKER, Vice-President of COGEREF, Italy (Vice-Presidency) represented by Agostino SCORNAJENCHI, President of ANDAF, South Africa (Executive Chair & Secretary General) represented by Pieter de JAGER, Chairman of CIBA and Mexico (Treasurer) represented by Angel GARCIA-LASCURAIN, President of the Advisory Council of the IMEF. 

ICFOA’s President, Emmanual Millard (DFCG, France), said:

“Our diverse board combines a rich array of perspectives, expertise, and experience, enabling us to address the complexities of global executive financial management. The spirit of diversity, inclusivity and collaboration is deeply infused in our strategic plan.” 

One key element of the strategic plan is the introduction of a global CFO Certification. This certification aims to establish a standardized competency framework to bolster the credibility and authority of CFOs in the international financial sector.

Pieter de Jager, ICFOA’s Executive Chairman and General Secretary (CIBA, South Africa), elaborated,

“The CFO Certification creates a global benchmark for CFO competencies. This resonates across borders, ensuring that CFOs align their skills with internationally recognized standards. The certification will also provide continuous professional development opportunities for finance executives, ensuring they stay abreast with the evolving financial landscape.” 

ICFOA’s strategic plan also includes international collaboration, supporting the benefits of evolvement in the technology and digitization space, and active involvement of its member bodies through executive committee meetings and technical working groups. The alliance further recognizes the strategic significance of partnerships and sponsorships to support its initiatives, which include hosting annual global events in partnership with its international member bodies. CFO Alliance is a collaborative network of CFO Associations with the objectives to: 

• • Foster closer co-operation between participating organizations within the CFO Alliance; 

• • Maintain International CFO Work Groups on 1) Climate and Sustainability Reporting, 2) Automation and Digital Transformation, 3) International Tax, and 4) CFO Certification; 

• • Collect and represent the views of CFO Associations on issues impacting the CFO community, to international standard setting organizations and authoritative policy making bodies, such as the G20, the Financial Stability Board, the World Bank, World Economic Forum, IFAC, and the IFRS Foundation; 

• • Host an annual CFO Alliance leadership meeting, and CFO Alliance Summit to set an annual work plan and receive feedback on previous year developments; 

• • Share best practice in CFO association management; 

• • Share local news and events from participating CFO Associations. 

Our mission is to develop a collaborative network of CFO Associations that can serve as a collective voice on matters of mutual interest and concern, and in this way contribute to the efficiency of financial markets around the world. 

Our work serves the public interest by fostering a culture of co-operation, sharing of ideas, and contribution to solving global issues affecting the CFO profession.