The role of the CFO has significantly evolved over the past two decades. Here are some of the key ways in which this role has changed:

1. From Accounting to Strategy: The CFO role has expanded from a predominantly accounting-focused role to a more strategic one. CFOs are increasingly expected to provide strategic insight and advice on the company's overall direction.
2. Increased Involvement in Operations: CFOs now often play a key role in business operations, including performance management, procurement, production, and more. This is a shift from a more traditionally finance-focused role.
3. Risk Management: With the increase in financial regulation and the complexity of financial markets, CFOs have had to become more skilled in risk management and mitigation strategies.
4. Technology and Data: The rise of technology and big data has led to CFOs needing to become proficient in these areas. They now often oversee IT departments and are responsible for ensuring that their organizations effectively leverage data for decision-making.
5. Sustainability and ESG: CFOs are now often involved in their company's environmental, social, and governance (ESG) strategies. This includes everything from ensuring compliance with environmental regulations to managing relationships with stakeholders.
6. Globalization: With businesses operating on a global scale, CFOs have had to become adept at navigating international finance, including managing currency risks, understanding international tax laws, and more.
7. Stakeholder Communication: CFOs now play a key role in communicating with various stakeholders, including investors, regulators, employees, and the public. This includes not only communicating financial results, but also explaining the company's strategy and direction.
8. Talent Development: With the evolution of the finance function, CFOs are now often responsible for talent development within their teams, ensuring their employees have the necessary skills to handle the increasing complexity of the finance function.
9. Mergers and Acquisitions: CFOs are playing an increasingly significant role in mergers and acquisitions, from identifying potential acquisition targets to integrating acquired companies.
10. Innovation: CFOs are often tasked with driving innovation in their organizations, particularly in terms of leveraging new technologies and practices in the finance function.