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Amid signs of economic recovery, we suggest in The future of Finance (pdf, 248.8kb) that CFOs establish and implement a holistic framework that identifies weaknesses and potential improvements, and which helps enable Finance to be more effective, lower costs and help deliver more value to the bottom line.

What challenges are likely to affect your company in 2009 and beyond? The credit crunch aftershocks and the deepening global recession rank as the most important business risks for 2009, displacing regulation and compliance — last year’s top risks. Green initiatives, competition from new entrants, human capital issues, and reputational risk all rose in The 2009 Ernst & Young business risk report — the top 10 risks for global business.

Sector top 10 business risk reports also available:

• Asset Management (pdf, 4.1mb)
• Media & entertainment (pdf, 6mb)
• Real Estate (pdf, 6.6mb)
• Telecommunications (pdf, 3.7mb)

CFOs are finding themselves caught between expectations that they will help create a company’s strategic direction, and the weight of compliance and regulation. How can a CFO balance the demands on their time? We surveyed 250 top C-suite executives across the world to gain insight into what’s next for the CFO (pdf, 957kb)

In recent years, European telecom operators have achieved considerable progress in developing new sources of revenue, while improving operational and financial performance, resulting in better sales growth, strong balance sheets and positive free cash flow. "Cash generation: performance in working capital management" considers the active management of working capital. .