The researchers focused specifically on the delegation of accounting. They argue that, unlike other responsibilities a CFO may have, such as digital security or risk management, accounting remains a significant task for all public company CFOs given their requirement to certify financial statements.
The study examined data from U.S. public companies between 2004 and 2019, focusing on instances where the CFO delegated accounting duties to a chief accounting officer (CAO) or controller who is recognized as an executive officer.
The key finding: Companies where CFOs delegate accounting responsibilities experience at least an 18% reduction in CFO departures. Delegating accounting enables CFOs to devote more time to higher-level priorities like corporate strategy, digital transformation, and human resources. In contrast, CFOs who manage both detailed accounting and broader strategic duties are more likely to suffer burnout and leave their roles.
Overall, the “Delegation and CFO Retention” study points to the value of delegation—not only for retaining CFOs, but also for building leadership depth and strengthening companies over time. And I think AI is also poised to help share this workload.
