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Essay / The role of the financial manager in maintaining the financial position of WKT Limited...
Assignment FIN200, T220141. List and briefly describe the three general areas of responsibility of a chief financial officer (CFO) of a selected non-financial company that is listed on the Australian Stock Exchange (ASX). Most trusted in manufacturing products for home builders, renovations and commercial construction, WKT Limited is basically a leading company in this particular field located in Australia and New Zealand. It is actually a company listed on the Australian Foreign Exchange with the ASX code WKT (WALKABOUT RESOURCES LTD). Its vision is to maintain its stature through the innovation of better and more cost-effective solutions for building design and construction (WKT Limited, 2014). The Australian manufacturing sector in which WKT is included faces the challenges of a sustained high Australian dollar, trade instability and very high costs. . So, what has made WKT Limited a strong and essential competitor in the field of manufacturing, residential and commercial building solutions and building products? Anyone can clearly give credit to their employees for supporting the success of the company, especially to someone similar to the CFO associated with that company. Currently, the person holding this position since 2010 is Mr. Geoff Wallace. Mr Geoff Wallace, Chief Financial Officer of WKT Limited Australia and New Zealand, has key skills in forecasting, business leadership, business strategy, mergers, valuation and change management all associated with his roles key in maintaining the financial situation of the company in general. . He cited in Sector Insights from 2012 that "that said, manufacturers, including WKT, have a responsibility (middle of paper......). In 2007, the ASX Corporate Governance Council announced its Corporate Governance Principles and Recommendations in which KPMG assessed its Principle 7: System Risk Management and the role of the CFO in all of this. In essence, the audit's revelation appears to be that in reality platforms working within a robust risk administration system operate successfully in the context of financial aspects (KPMG, 2010). Risk assessment or risk management as a whole will provide alignment with extended financial plans. This is a portfolio of related expenses which is delicate and requires precise management and financial projections which could inevitably guarantee investors and certainly stakeholders economic victory (ACCA, 2012). ReferenceLtd, W. (2014). Visiting resources. [online] Wkt.com.au. Available at: http://www.wkt.com.au/ [Accessed September 22. 2014].