Africa-Press – Angola. Sixty-five percent of CFOs (Chief Financial Officers) of banks and insurance companies, surveyed by EY Angola, consider that the impact of volatility in financial markets can cause disruptions in the performance of the financial function. The final results of the survey carried out by EY Angola, on the challenges faced by CFOs and those responsible for the financial/accounting areas of banks and insurance companies in Angola, have just been released.
“The purpose of the survey was to reflect on the concerns of financial directors, as well as the aspects that will require greater involvement from CFOs and that will constitute relevant vectors in the evolution of the financial function, as well as identifying the areas in which CFOs project greater investment, taking into account takes into account the risks that are expected to have greater impacts on the financial performance of institutions”, explains Carlos Basto, Office Managing Partner at EY Angola, adding the objective of “understanding how factors such as technological acceleration, the redefinition of the organizational structure and the development of people’s talent are capable of maximizing the impact and value creation of the financial function in the institution”.
The results of the questionnaire reveal that 86 percent of financial directors consider that the technological systems and applications supporting the financial function present vulnerabilities, with 50 percent highlighting that the greatest threat to the financial function is related to technological and/or cybersecurity.
Environmental risk (climate change) is projected as having the least impact on the institution’s financial performance.
Already 84 percent of financial directors in Angola express concern about the increase in regulatory complexity and scrutiny by the supervisor.
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