ACCA organizes session on Smart Finance Function

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“A well developed finance function, technology use, and great leadership can transform an enterprise” – Arif Masud Mirza, Head of Policy MENASA, ACCA

The Association of Certified Chartered Accountants held an informative session on Smart Finance Function in Karachi. The event brought together the business community where they presented their case studies on the importance of investing in the finance function of an organization.

Arif Mirza (ACCA), Head of Policy MENASA - ACCA Pakisan, stressed on the importance of a well-developed finance function and how it will benefit the businesses. He also shed light on exploring great leadership, the best use of technology, and hiring and retaining the best talent that will transform enterprises’ operations making it increasingly smarter and fit for business.

Zeshan Afzal (FCCA), Group Head – Strategic Investments of Arif Habib Corporation, stressed on leadership as a crucial factor that makes everything work together seamlessly and helps create an effective work environment. He stated that “Top CFOs lead by example, proactively providing business insight and promoting a robust flow of information-sharing across a company”, as well as, “In a fast-changing world, high-value finance talent will seek out CFOs who have bold agendas for change, aligned to the organisations vision.”

Kamran Akhtar Hashmi (FCA, CFA), Head of Business Finance & Risk Management for BU Distribution, K-Electric Limited spoke about finance talent management and how it can be used effectively to champion change and turnaround in any organization. He shared that K-Electric’s turnaround case study was recognised at various international forums including the Harvard Business School and FT/ IFC; made possible, among other things, by embedding ACCA’s Competency Framework into the finance development programme. He stated that “The ACCA Competency Framework demonstrates how ACCAs can become an asset to any organisation and work diligently in accordance with the performance objectives that are mapped to their roles and aligned to the K – Electric’s overall vision.

Guest Speaker, Adamjee Yakoob (FCCA), CFO, Citibank, N.A. Pakistan promoted thought leadership on embedding technology in today’s corporate finance function. He stated that “a conscious effort is required by financial leaders to redefine the finance pyramid through a combination of finance and technology, thus forging a finance function that delivers financial performance rather than the old school reporting, control and financial operations.

Atir Ahsan, GM & Group CFO, Arthur Lawrence Pakistan highlighted the global finance transformation whereby “enterprise-wide business transformation, business process outsourcing and business applications implementation services through exceptional resources is adding value to businesses through reduced costs, access to better talent and technology and reduction of risks associated with ineffective in-house processes”.