What does 'CFO' stand for in business?

In business, CFO stands for Chief Financial Officer. The CFO is the senior executive primarily responsible for an organisation’s finances and financial strategy.

Typical responsibilities include financial planning, budgeting, risk management, accounting oversight, reporting and managing relationships with investors, banks and other financial institutions. In large companies, the CFO often oversees departments such as treasury, tax, internal audit and financial planning and analysis.

A CFO usually reports to the Chief Executive Officer, or CEO, and works closely with the board of directors. The role has expanded beyond record-keeping: modern CFOs often help shape acquisitions, capital investments, fundraising, pricing decisions and long-term business strategy.

The main mix-up is with the other C-suite abbreviations. The CEO leads the organisation overall, the COO focuses on operations, and the CTO oversees technology. Titles and reporting structures vary by company, but “Chief Financial Officer” is the standard meaning of CFO in business.