As finance leaders look to shape their firm’s strategic direction, only in four actually take critical investment decisions and significant capital expenditure.

Findings from EY’s DNA of a CFO report highlight the potential for CFOs to play a more influential role in their organisations.

The survey of 170 finance leaders shows that while most participate in assessing initial investment decisions, only a minority are the primary decision maker in these discussions.

But there are also negative opinions about finance heads across businesses. Four in 10 (38%) said finance is seen as an ‘enablement function supporting day-to-day operations and transactions’.

Respondents cited a focus on technology investment targeted on efficiency rather than insight generation (52%), while 40% noted a limited diversity of experience within finance teams as key factors influencing this perception.