Financial controllers have been urged to stop looking at the cost side of material input, especially in terms of strategic planning, which is critical in organisational development.
Speaking during a summit of financial controllers organised by the Association of Chartered Certified Accountants in Kampala yesterday, Mr Patrick Ayota, the NSSF deputy managing director, said: “Stop focusing on the cost side. You are responsible for a company’s past and present,” emphasising that financial controllers must identify what efficient areas and how the company can capitalise on them to improve.
Mr Mark Ocittti Ongom, the Uganda Breweries managing director, said today’s high pressure business environment has driven financial controllers away from a finance position into strategic business planners.
“The face of financial controllers has changed dramatically from what it was 20 years ago,” he said.
It was important for financial controllers, he said to collaborate with different organisations to build strategic plans that will make them star performers.
The summit, according to Ms Beatrice Isagayite, the ACCA country manager, sought to inform financial controllers of the changing dynamics ushered in by varying demands.