History of JACFO

Establishing the global standard of corporate management in Japan by fostering CFOs
While education in the field of financial management is well underway in the rest of the world, as seen in the activities of the International Association of Financial. Executives Institutes (IAFEI) and the International Group of Treasury Associations (IGTA), these types of education in Japan has lagged far behind. JACFO was launched in October 2000 with the aim of increasing the competitiveness of the Japanese business community, where even the distinction between “accounting” and “finance” is vaguely defined, to a level high enough to survive the global competition.

Forming Alliances with Global Financial Networks
At its launch, JACFO entered into a partnership arrangement with the Association of Financial Professionals (AFP), the largest financial education institution in the United States, with a view to bringing into Japan advanced financial strategies and techniques. Thereafter, JACFO has proceeded with taking part in financial education networks in the world by joining the International Group of Treasury Associations (IGTA) in 2001 and the International Association of Financial Executives Institutes (IAFEI) in 2003, among other initiatives.

Introduction of Certification System
In 2000, JACFO introduced an MBA finance course, “General CFO Certification.” Also in May 2001, JACFO introduced an authoritative U.S. financial certification offered by AFP as the “Global CFO Certification (CCM).” In 2004, JACFO introduced the “Standard CFO Certification,” an introductory certification for accounting and financial staff of small and medium enterprises, jointly with Kinzai Institute for Financial Affairs, Inc., followed by the introduction of the more advanced “Professional CFO Certification,” in 2005. The latter systematizes the contents of the “Project for Human Resource Development for Regional Finance of the Ministry of Economy, Trade and Industry.”

Development and implementation of “Finance & Accounting Service Skill Standard (FASS)”
In 2004, the Ministry of Economy, Trade and Industry formulated the “Finance & Accounting Service Skill Standard.” This standard uses flow charts to show the business processes of accounting and finance divisions so as to exhaustively organize the skills required for each service by functions. It serves as a platform that can be used for the strengthening of internal control, human resource development, optimum staff deployment, and organization restructuring. As part of the project for the development of highly professional human resources, JACFO was entrusted by the Ministry of Economy, Trade and Industry with the certification project for finance and accounting skills based on this standard. JACFO developed the “Finance & Accounting Service Skill Standard (FASS)" and launched it in 2005. This standard has been widely accepted as a means to objectively measure the skill level in performing routine finance and accounting work.

World CFO Conference was held in Tokyo
In September 2007, JACFO invited the World CFO Conference, an annual assembly of the International Association of Financial Executives Institutes (IAFEI), to be held in Japan for the first time. The conference was held for two days at Palace Hotel in Tokyo with the theme of “Aiming for New Operation & Financial Management in Japanese Perspective. A total of 200 people including 80 members from overseas attended.

Assumed the position of chairman of the International Association of Financial Executives Institutes (IAFEI)
In 2010, Hiroshi Yaguchi, Executive Director of JACFO, was nominated for IAFEI Chairman at the World CFO Conference held in Rome. He served as the chairman for two years from 2011 (He is currently a council member).

Introducing the FASS certification into Asia
JACFO was entrusted by the Ministry of Economy, Trade and Industry with the development of trans-national measuring tool, aiming for international standardization of practical accounting and financial skills. With the cooperation with IAFEI member associations in Asian counties, 1,694 staff members of 303 Japanese companies in 10 areas of Asia took the “Asian-version of FASS” for two years from 2011. As a result, it was proved to be an effective means for objective evaluation of practical skills regardless of countries, and the "Asian-version of FASS" was officially launched. From 2015, it is evolving further as the “Global FASS.”

Inauguration of Expert Committees
In response to the diversifying needs of corporate finance divisions, expert committees were inaugurated by individual themes so that members can exchange information and share case examples of other companies. In FY2014, the initial fiscal year, we established three committees: “M&A Committee,” “Next-generation Global Financial Officer Committee,” and “International Tax Committee.”

Reorganized to a general incorporated association
In April 2015, JACFO was transformed into a general incorporated association which gave legal foundation for its activities. All the activities that have been conducted as a private organization (non-legal entities) were taken over by the Japan Association of Chief Financial Officers (JACFO).

JACFO will continue to conduct activities while being fully aware of the importance of the social responsibility as a group. In addition, we will continue to promote surveys and researches on practical management and financial techniques, while also striving for nurturing Japanese-version of CFOs who undertake the improvement of corporate value, and seeking for participations of highly-motivated business people.

 
 
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JACFOとは
挨拶
ミッション
CFO(最高財務責任者)とは
基本情報・役員
JACFOの歩み
国際連携
法人会員一覧
アクセス
JACFOキャラクター “Cash Cow”

活動
〈研究・情報交換〉
WEBマガジン《CFO FORUM》
サーベイ
コミュニティ
〈人材育成・能力評価〉
資格認定/検定
CFO資格認定
CFO資格研修プログラム
FASS
PASS
M&A能力開発プログラム
CFOリーダーシップ・スクール
キャリアアップ支援(ジャスネット)
〈組織支援〉
会計士派遣プログラム
協賛企業の募集

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