What is the role of a CFO in today’s franchising environment?

Financial matters are at the heart of franchising and people with financial responsibility play a key role in the success of franchises. So how does the role of a chief financial officer shape up today? 

“This is an interesting topic,” says Kate Groom, co-founder of the Franchise Accountants Network, a group of independent accounting firms who share a common interest in franchising.

“Often financial roles start as bookkeepers when franchise businesses are small, but they need more rigour as the business grows. But what does the role of a CFO look like?”

Issues of leadership, communication and benchmarking are all relevant to in-house franchise accountants. But so too is knowledge of the sector and compliance, particularly in the light of changes made to the Franchising Code of Conduct.

The new Code of Conduct has elevated the financial aspects in a franchise system and it’s important that accountants are cogniscent of the requirements.

But accountants rarely participate in the franchising sector.

“A lot of franchise system compliance seems to end up with accounts people who don’t show up to franchising events,” explains Groom.

And that’s why the Franchise Accountants Forum is taking place next week.

The one day event has four speakers.

Dr Michael Schaper, deputy chair Australian Competition and Consumer Commission will share his perspective on the crucial role accountants play under the new Code.

Mark Bilton, the former group MD of Gloria Jean’s Coffees, has a unique leadership style developed through leading businesses through turbulent times and will share his insights.

“He’s an interesting speaker, top notch in leadership terms,” says Groom.

Doug Hutchinson, who heads up Barry Plant Real Estate, has applied his skills in accounting and technology to develop complex benchmarking processes. At the forum he will highlight the best ways for accountants to communicate and engage stakeholders.

Sean Mura, the CFO of Anytime Fitness Australia, will draw on his background in accounting and marketing to explain the shift that’s occurring for CFOs and the key role they play in franchise businesses.

Book online and use discount code FRAN2015 to receive a 15 percent discount on your ticket.