CAs Get results

Each year, the CICA reviews the positions of chair, CEO, president, CFO, chief operating officer and corporate secretary at companies in the Globe and Mail’s Report on Business 1,000 (ROB) magazine to determine how many top spots are held by CAs.

As in previous years, the 2006 study shows CAs not only hold many of these top positions but also bring significant advantages to their employers. Top 1,000 companies that had a CFO who was a CA performed better on several key financial measures including return on equity, return on capital and return on assets. Companies with a CA as their top officer (generally CFO or president) also outperformed companies led by non CAs. These findings have been consistent since the study began in 1998.

Given the advantages that CAs bring, it is no wonder they continue to hold many top positions. Not surprisingly, 57.9% of CFOs in the 2006 ROB 1,000 are CAs, down from 58.1% last year but up from 56.8% in 2004, 55.1% in 2003, 54.5% in 2002 and 53% in 2001. The trend suggests that number will continue to rise.

Other positions frequently held by CAs include chair (13.9%), CEO (9.8%), president (9.6%), secretary (17.5%), and chief operating officer (8%). With the exception of chair, the numbers are similar to those in 1998. The percentage of top 1,000 chairs who are CAs has more than doubled since the position was first included in 2000. Then, only 5.9% were CAs.

John Tabone is CICA's manager of innovation