How We Are Governed
The International CFO Alliance (ICFOA) is a non-profit organization, classified as an “association loi 1901“, and is officially registered in France. It was established as a legal entity in 2023 and is recognized by the Directorate of Legal and Administrative Information (DILA). This status underscores our commitment to operating as a non-profit, dedicated to serving the interests of our members and the CFO profession globally.
In 2023 the ICFOA finalised its Articles of Association, and following this, the Board crystallised a dynamic and adaptable Framework for Action. This framework is designed to be responsive to emerging opportunities and risks, while firmly rooted in the ICFOA’s enduring Vision, Purpose, Values, and Strategic Objectives. These foundational elements have demonstrated their resilience and relevance over time, guiding the association’s direction and growth.
Framework for Action
These strategic elements will help the ICFOA to advance its goals and create a robust international network of CFO professionals, contributing to the collective growth and success of the finance profession globally.
- Building Foundations and Implementing Processes:
During its initial phase, the International CFO Alliance (ICFOA) will prioritize expanding its membership base, crafting a robust organizational framework, and actively promoting the association. Key efforts will involve establishing specific objectives, creating detailed timelines, and implementing measurable metrics for the year 2024. This foundational work is essential for ensuring a strong and sustainable launch of the ICFOA. - Working Committees and Responsibilities:
Establishing working committees is vital for the ICFOA. These committees should focus on CFO Certification, Automation, International Tax, Sponsorship and Partnership, New Memberships, International Observatory of Management Control/Financial Reporting, and Sustainability. The ICFOA can leverage the expertise from different member nations like South Africa, Italy, Portugal, Tunisia, Mexico, and France for these committees.
- Governing Policies and Priorities:
Prioritising critical policies in the formation stage is essential. The ICFOA should focus on a Board Charter, Terms of Reference, Partnership and Sponsorship Policy, and a General Data Protection Regulation Policy.
- Branding and Public Image:
Maintaining a strong brand image is crucial. This includes elements like an approved logo design and a consistent branding strategy across all communications and representations.
- Membership Engagement and Administration:
The ICFOA will set clear guidelines for new members, including the provision of admission documents that offer insights into their organisational structure, governance, financial transparency, membership demographics, role and influence in policymaking, stakeholder engagement, advocacy, and sustainability and ethical standards.
- Mission and Vision:
The ICFOA’s mission should focus on serving the public interest, strengthening the CFO profession, promoting international collaboration, advocating for global financial management standards, and supporting the development and recognition of CFOs.
- Collaboration and Education:
As an alliance of national CFO associations, fostering collaboration, education, and advocacy in the finance sector is key. This includes creating opportunities for sharing knowledge, best practices, and supporting innovation in financial management.
How we are Funded
As an NPE, we are funded from:
- Annual membership fees;
- Gratuitous sponsorship and endowments from stakeholders within our ecosystem;
- Licensing agreements from our standard-setting, accreditation, and certification activities.
We annually prepare financial reports that reflects how we created value within a sustainable, transparent and responsible manner.
Our membership fees are calculated based on the World Bank criteria for country income and development levels, and is depicted in the table below. The fee amount and annual increases are subject to annual Board review and approval:
Income level classification | Index fee per association |
|---|---|
High income countries | € 1335 |
Middle income countries | € 801 |
Low income countries | € 401 |
Our Structure
The presidents, chairpersons or CEOs of participating CFO Organizations forms the leadership of the International CFO Alliance and sets the annual agenda.
Our Leadership Team: | ||
|---|---|---|
DFCG (France) | Emannuel Millard | President |
COGEREF (Tunisia) | Meriam Ben Boubaker | Vice President 1 |
ANDAF (Italy) | Agostino Scornajenchi | Vice President 2 |
CIBA (South Africa) |
Pieter De Jager | Executive Chair & General Secretary |
IMEF (Mexico) | Angel Gacia-Lascurain | Treasurer |
Our Board Members: | ||
|---|---|---|
AMCF (Morocco) | Anass Radi | Board member |
ANDAF (Italy) | Ricardo Baraldi | Board member |
ASSET (Spain) | Luis Calaf | Board member |
CIBA (South Africa) | Nicolaas van Wyk | Board member |
Club des Financiers du | Board member | |
Nord Maroc (Morocco) |
Saloua Lamjahdi | Board member |
COGEREF (Tunisia) | Ridha Abdelmoula | Board member |
DFCG (France) | David Wray | Board member |
GEFIU CFO Forum | Board member | |
Deutschland e.V. (Germany) | Helmut Schnabel | Board member |
HIFM (EOIA) (Greece) | Anastassios Rodopoulos | Board member |
IMEF (Mexico) |
Jose Antonio Quesada | Board member |
PAFE (Portugal) | Pascal Ballayer | Board member |
Several groups from UEMOA West Africa | Jean-Claude Drouhyai-YOA | Board member |
The Secretariat Workgroup
The leadership appoints a volunteer Secretariat Workgroup tasked with organizing the activities of the ICFOA. The Secretariat Workgroup co-ordinates the ICFOA Technical Workgroups consisting of an individual members allocated by the participating CFO associations. The workgroups elect their own chairperson responsible to plan, convene, administer, and report on their activities.
Reports and submissions are presented by the workgroup chairperson to the leadership of the CFO Alliance for review and approval, prior to issuing a public communication.