The CFO’s deliverables in a governance cycle

In a well-governed organization, the chief financial officer (CFO) is not merely a custodian of numbers but a strategic partner who ensures that financial performance, risk exposure and governance standards are aligned with the organization’s mission and long-term strategy. The deliverables from a finance perspective to the Board and its oversight committees serve as the backbone of informed decision-making and serve as  essentials to sustainable growth.

1. Deliverables to the Board of Directors

The CFO’s primary responsibility to the Board is to present a clear, comprehensive, and forward-looking financial and strategic picture of the company. Two weeks before every Board meeting, the CFO’s office must circulate the Board Financial Pack, consisting of:

Executive Financial Summary – highlights of key results, variances from budget, emerging financial risks, and the strategic context of each variance.

Summarized Financial Statements — the Income Statement, Balance Sheet and Cash Flow Statement for the reporting period, with key performance indicators (KPIs) benchmarked against approved targets.

Key Ratios and Metrics — liquidity, leverage, profitability, and efficiency ratios compared against Board-approved thresholds.

Forecasts and Forward Projections — revised financial forecasts for the next quarter or fiscal year, including scenario analyses showing the potential impact of market, operational, or policy shifts.

Recommendations for Approval — capital expenditure requests, dividend declarations, financing arrangements, or major investments requiring Board resolution.

The CFO interprets not just financial outcomes but strategic implications — how numbers connect with organizational goals, competitive position and shareholder value, helping directors focus on long-term sustainability rather than short-term fluctuations.

2. Deliverables to the Board Audit Committee

The audit committee, chaired by an independent director, relies on the CFO to ensure the financial integrity and compliance with accounting and regulatory standards. Before the committee meeting, the CFO provides:

Draft Financial Statements and Schedules — ready for internal and external audit review.

Management Representation Letter — affirming that financial data is complete, accurate and fairly presented.

Audit Findings and Status Reports — summaries of internal and external audit observations, management responses, and timelines for resolution.

Updates on Accounting Policy Changes — including the impact of new financial reporting standards or revisions in estimates and assumptions.

Fraud Risk and Control Review — a confidential summary of any detected irregularities and corrective actions taken.

The CFO must develop a culture of the highest levels of professionalism and integrity as embedded in internal processes.

3. Deliverables to the Board Risk Committee

The risk committee oversees how financial and non-financial risks are identified, measured, and mitigated. The CFO contributes both quantitative and qualitative analyses, focusing on risk exposures that directly affect the organization’s financial stability. Deliverables include:

Enterprise Risk Dashboard — summarizing key risk indicators (KRIs) on liquidity, credit, market volatility and foreign exchange exposures.

Stress-Testing Results  —  showing how extreme events could impact solvency, profitability or capital adequacy.

Risk Mitigation Progress Report — updates on the implementation of financial risk mitigation strategies, including insurance coverage, hedging activities and debt restructuring.

Alignment of Risk Appetite and Capital Planning — evidence that financial decisions remain within Board-approved risk appetite limits.

Through these submissions, the CFO reinforces that financial stewardship is inseparable from enterprise risk management and that risks are being managed proactively.

4. Deliverables to the Internal Audit Committee

While internal audit operates independently, collaboration between the CFO and the internal audit committee ensures that control weaknesses are promptly addressed. The CFO submits:

Implementation Reports on Audit Recommendations — detailing completed, ongoing and pending actions.

Control Self-Assessment Results — internal evaluations of control effectiveness within Finance and related departments.

Policy and Process Enhancements — proposals for strengthening internal controls and automating reporting systems.

This partnership establishes a culture of internal control integrity, a C-suite essential. 

5. Deliverables to the Chief Risk Officer or CEO

In organizations without a chief risk officer (CRO), the CFO provides detailed financial risk analysis — liquidity tracking, debt maturity profiles, sensitivity analyses and scenario modeling — to enable enterprise-wide risk oversight. Where no CRO exists, these are submitted directly to the CEO. The CFO’s deliverables ensure the CEO (or CRO) can integrate financial risk data into strategic planning, capital allocation and crisis preparedness.