Audit committees attracting CFO talent
Higher proportion of CFOs and accountants chairing audit committees of the UK's largest companies
FINANCIAL EXPERIENCE is in higher demand at the top of audit committees, according to a new study.
The proportion of retired or serving CFOs chairing audit committees of the top 200 FTSE companies has risen 50% in the past two years, according to Egon Zehnder International.
Last year 45 of the FTSE 200 audit committee chairs had CFO experience, compared to 31 in 2008.
Four-fifths of audit committee chairs had accountancy qualifications in 2010, it also found, up from 64% in 2004.
A higher proportion – 41% in 2010, up from 12% in 2004 – are chair of more than one audit committee.
“The increase in multiple chairs reflects how this is becoming a more specialist job,” said Andrew Roscoe, UK managing partner, Egon Zehnder International.