The Walker Review  suggests that the non executive directors on banks’ boards should have played a bigger role in corporate governance to provide a counterbalance to management and the bonus culture. But it is not clear that this would have prevented the current crisis.

Realistically, the board will never be close enough to business operations to manage performance.  Management accountants are in a better position and could have an important role to play here - as a report just launched by CIMA shows: Improving decision making – the opportunity to reinvent finance business partners.

CIMA’s purpose is to ensure your employability and enhance your career prospects as a member. The objectives of this and other reports in the ‘Improving decision making’ suite are (a) to inform members about developments in the roles of the finance function so as to help you to future-proof your career and (b) to demonstrate to employers that CIMA members can contribute to improving performance through a wide range of roles: http://www.cimaglobal.com/decisionmaking

This new report considers the finance business partner role in particular. It includes learning from academia and consultants but it derives its credibility from the real insights provided by members. I hope that employers will find that it makes a compelling case for engaging more of us as business partners.

Good CFOs have long acted as both a support and counterweight to the CEO. They help him to shape the future of the organisation but they also ensure that any major decisions are properly considered in the interests of shareholders. This influence can be cascaded through to operational decision making across the business by deploying effective finance business partners.

To properly support decision making in this way seems to require a combination of quantitative accounting skills and more qualitative business skills. Other business people and MBAs will challenge for these roles too.

I see that 85% of those who responded to last week’s CIMAsphere poll ‘Is accounting the right qualification for business partners?’ told us that they think accountants are best placed to fill these roles. 35% of all respondents said that management accounting is the right qualification and 50% agreed but said that business experience is required too. Very few said that CPD is required - but gaining experience could be seen as part of a CPD plan.

I wonder if members find that to become business partners they need real experience in business roles, placements as part of a training program or is just working in a corporate environment enough? And how can CIMA help you?

I would welcome your views.