From CFO to CVO: Redefining value in business leadership

Finance leaders are moving beyond financial stewardship to shape strategy, resilience, and sustainable long-term value creation.

As businesses face increasing pressure to balance financial performance with wider stakeholder expectations, the role of the Chief Financial Officer (CFO) is undergoing transformation. Finance leaders are now expected to deliver long-term, sustainable success whilst guiding organisations through complex and changing environments.

In an exclusive interview with Singapore Business Review, Helen Brand, Chief Executive of ACCA, explored how the role of the CFO is transforming into that of the Chief Value Officer (CVO).

Reshaping the CFO role

The evolution of the CFO role over the past decade has been notable. Finance leaders have shifted from financial stewardship to enterprise leadership and from tactical responsibilities to strategic influence.

“Today’s finance chief must orchestrate how value is created, protected and reported across multiple capitals, including financial, manufactured, human, natural, social and relationship, and intellectual, because that’s what drives long-term, sustainable performance,” Brand said.

They must be equally confident in addressing non-financial measures and emerging risks, ensuring that immediate results are delivered whilst also preparing for sustainable success over the long term. ACCA’s research shows that many finance leaders already view themselves as the accountable face for delivering value, signaling a clear shift towards the CVO role.

The definition of business success has also expanded beyond financial results.

“Value is created through everything working together,” Brand explained. “Customers, employees, communities, regulators, and investors all contribute to and evaluate an organisation’s long-term prospects.”

Lasting success comes from bringing strategy, values, and outcomes into alignment across different stakeholder groups. Financial and non-financial drivers work hand in hand: culture supports innovation, productivity relies on people, and environmental and social responsibility helps maintain the license to operate.

“When you measure and manage those linkages, rather than treat them as extras, you strengthen resilience and strategic clarity,” Brand noted. This is why investment decisions must now be judged against a broader value agenda, not purely by short-term financial returns.

Navigating key challenges

Despite this progress, the path forward is not without challenge. Brand highlighted three issues, namely time horizons, capability, and measurement.

CFOs must balance near-term earnings with long-term investment in talent, technology, and transformation, a difficult task in volatile markets. At the same time, finance teams need stronger capabilities in value acumen, data literacy, and change leadership, becoming as credible on carbon intensity as they are on cash flow. Reliable, assured non-financial data is also essential to provide the comprehensive insight required for effective decision-making.

The shift from CFO to CVO is embedding long-term value at the centre of boardroom decision-making. “As CFOs embrace the CVO mandate, capital allocation, risk, strategy, talent, and technology become a single conversation rather than separate agendas,” Brand added.

Boards will expect a clear link between purpose, performance, and prospects, supported by metrics that show how value is created and shared with stakeholders. This positions finance not just as the reporting of past results, but as a forward-looking function that brings evidence, discipline, and ethical judgement to decisions shaping resilience and sustainable growth.

Building new capabilities

Succeeding in this expanded role demands a broader skillset. Brand emphasised that beyond technical excellence, CFOs must now demonstrate a breadth of capabilities that reflect their expanding remit.

CFOs must manage across multiple forms of capital, combine assured non-financial and financial data, and apply insights from analytics and AI. Credible engagement with investors, regulators, employees, and customers is vital, as is the ability to lead cultural and performance change.

Collaborative leadership with CEOs and executive teams is vital. “Above all, they need an ethical backbone to anchor trust as business models become more complex and digital,” Brand highlighted.

For the profession, continuous learning and development beyond traditional finance are essential to prepare leaders for the demands of the future.

The future of leadership in finance

Communicating value effectively is another important focus. CFOs must articulate a coherent story that links risks, strategy, performance, and prospects. This requires a balance of financial indicators with non-financial measures, such as customer experience, employee capability, supply-chain resilience, climate transition progress, and innovation pipelines.

“The aim is not volume but clarity: consistent narratives, comparable metrics, and increasing levels of assurance,” Brand added.

ACCA has long advocated this integrated approach to reporting and performance management, publishing its first integrated report more than a decade ago.

Ultimately, the transformation from CFO to CVO is redefining business leadership. “It will cement the finance leader as a boardroom essential, trusted to balance performance, purpose, short-term delivery, and long-term value,” Brand affirmed.

As organisations navigate digital transformation, AI, sustainability, and stakeholder expectations, the CVO mindset provides the foundation for evidence-based, ethically grounded, and future-focused leadership. For ACCA, the profession is ready for this moment; the challenge now lies in execution.

To learn more about how ACCA is supporting finance professionals in leading the value agenda and shaping sustainable business, visit www.accaglobal.com.