The pre-eminence of the CFO in the company tax department is coming under threat as CEOs begin to take a keener interest in tax affairs due to corporate governance pressures, according to a survey by Ernst & Young. Of the 354 tax directors interviewed, more than half say they are seeing more direction coming from the CEO. And, while 62% of tax directors say their CFO is still responsible for tax decisions, 31% say that final policy and procedure approval are now in the hands, not of the CFO, but of the CEO and board.
Thanks for your interest in Euromoney!
To unlock this article: