<P> The chief financial officer (CFO) or chief financial and operating officer (CFOO) is a corporate officer primarily responsible for managing the financial risks of the corporation . This officer is also responsible for financial planning and record - keeping, as well as financial reporting to higher management . In some sectors the CFO is also responsible for analysis of data . The title is equivalent to finance director (FD), a common title in the United Kingdom . The CFO typically reports to the chief executive officer and to the board of directors, and may additionally sit on the board . The CFO supervises the finance unit and is the chief financial spokesperson for the organization . The CFO reports directly to the president / chief executive officer (CEO) and directly assists the chief operating officer (COO) on all strategic and tactical matters as they relate to budget management, cost--benefit analysis, forecasting needs and the securing of new funding . </P> <P> Most CFOs of large companies have finance qualifications such as a Master of Business Administration, Master of Science, or come from an accounting background such as a Certified Public Accountant . A finance department would usually contain some accountants with Certified Public Accountant, Chartered Accountant, Certified Management Accountant, Chartered Certified Accountant, or equivalent status such as master of finance . </P>

Who has responsibility for financial management of an incorporated organisation