ICFOA’s Role in CEN/TC 476: Raising the Bar for CFO Leadership

The Problem: A Fragmented Financial Governance Landscape

Across Europe—and globally—Chief Financial Officers face an increasingly complex environment. Fragmentation in financial governance frameworks, inconsistent CFO role expectations, and uneven recognition of competencies across jurisdictions hinder both mobility and performance. This impacts multinational corporations and constrains the development of emerging market CFOs who seek alignment with international standards.


CEN/TC 476: Standardizing CFO Competence and Ethics

To address this, the European Committee for Standardization (CEN) created Technical Committee 476. CEN/TC 476 focuses on developing standards for competence, professionalism, and ethical conduct for finance professionals, particularly CFOs. The goal is to ensure harmonization, recognition, and public trust in the CFO role across Europe.


ICFOA’s Role: A Bridge Between Europe and the World

As a Liaison Organisation to CEN/TC 476, ICFOA brings together CFO associations from Europe and beyond. Representing ICFOA in this work are Nicolaas van Wyk, MBA, CEO of CIBA – Chartered Institute for Business Accountants and ICFOA board member, and Riccardo Baraldi, ICFOA board member representing ANDAF – Associazione Nazionale Direttori Amministrativi e Finanziari. Together, they ensure that the perspectives of international CFOs and those from developing markets are represented.


Working Method: Inclusive, Consensus-Based, and Technical

CEN/TC 476 operates via national standards bodies, working groups, and public consultations. ICFOA, as a technical contributor, helps align these standards with real-world CFO practices and international frameworks.


The End Product: A European Standard for CFO Competence

The committee is developing a European Standard (EN) covering knowledge areas, skills, and behaviors. It will be used by universities, employers, regulators, and certification bodies as a benchmark.


Benefits for European and Global CFOs

EU CFOs benefit through mobility, clarity, and professional recognition. Global CFOs gain access, credibility, and influence—contributing to a unified, high-standard CFO profession.


 

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The International CFO Alliance (ICFOA) is a non-profit organization, classified as an “1901 association law“ entity, and is officially registered in France. It was established as a legal entity in 2023 and is recognized by the Directorate of Legal and Administrative Information (DILA). This status underscores our commitment to operating as a non-profit, dedicated to serving the interests of our members and the CFO profession globally.

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