Rosati: CFOs should focus on 10-20% budget variances, not minor expenses
Deborah Rosati · 40 Years In, She Says the Boardroom's Real Work Happens Elsewhere · Nov 7, 2023 · at 34:06
Deborah Rosati, corporate director and governance expert, explains how CFOs should approach financial oversight and cost optimization without micromanaging expenses.
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“You're not going to go, Hey, you had too many coffees. I noticed the line item on coffee. There's a lot of coffee or, Oh, you, I saw a lot of drinking going on in that dinner. If you know, you make the commitment, you have an operating plan that you're working towards. Things change throughout the year. You're looking at, there's always, there's a materiality guideline, right? It's like, is it material enough? Is it 10 to 20% overspend? Well, then maybe you would. Maybe there's an area that you would drill down into.”
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