CFOs need to ensure data security in companies, says former ICAI president

Chief Financial Officers (CFOs) should ensure data security, data privacy and prevent data leakage in companies and make sure that regulatory norms are fully complied with, said G. Ramaswamy, former president of the Institute of Chartered Accountants of India (ICAI).

Speaking at the CFO conclave organised in the city recently by the Coimbatore Management Association, he said that currently, the CFOs had a great deal of data at their disposal which they could leverage to improve every facet of the company’s performance. Digital technology had come as an effective tool in running the company affairs in an efficient manner. If the CFOs handle data and digital technology with diligence, they could successfully execute their role as a CFO.

Association president R. Varadarajan said the CFO in today’s world must balance identifying the opportunities for growth with managing the risks to the company.