Deloitte’s CFO Signals survey, conducted quarterly, captures the insights and priorities of CFOs from some of North America's largest and most influential companies. The second quarter of 2024 survey, conducted between April 29, 2024, and May 11, 2024, included 200 CFOs, primarily from companies with annual revenues exceeding $1 billion. The survey revealed a cautious outlook, with most CFOs indicating the economy as their primary external concern. Only 26% of CFOs believe it is a good time to take greater risks. Additionally, opinions on the valuation of US equity markets were split, with 38% considering them undervalued and 34% overvalued.
CFOs are most concerned about talent and the adoption of generative AI (GenAI). Externally, they are wary of economic conditions, geopolitics, and cybersecurity. Despite the emphasis on succession planning, 25% of respondents reported their organizations lack a formal CFO succession plan. Key priorities for succession planning include creating a role profile and mentoring potential successors. The survey underscores the evolving role of the CFO, with operational experience, tech fluency, and network leadership emerging as crucial skills for future CFOs. The ability to explain results to board members clearly and the desire to influence company strategy are highly valued by CFOs seeking board membership.
