There are many words to describe the economic environment of 2023 and dull is definitely not one of them.
2023 remains a particularly challenging period for many CFOs who must grapple with two local wars, one in Eastern Europe and the other in the Middle East, and their impact on supply chains, escalating cyberattacks, rigid labour markets, efforts to adopt sustained ESG strategies in response to climate change, and the business impact of adopting or not adopting fast enough emerging technologies like artificial intelligence.
With 2024 just around the corner, we have invited Ho Kok Yong, CFO Program Leader, Deloitte Southeast Asia, to share with us his views around innovations, lessons learned in 2023 and what CFOs and finance leaders can expect in 2024.
1. What were the three most distinctive challenges for the CFO and the finance function in Asia in 2023?
2. Name three lessons learned in response to these challenges.
3. Coming into 2024, what does Deloitte see will be critical issues/challenges to the finance function and CFO?
4. What is your top prediction for 2024 (as it relates to the CFO and finance function)?
5. What are Deloitte’s recommendations/advice to finance leaders to meet these challenges?