CFOs get more vigilant about managing credit risk

08/17/2009 | CFO.com

With increasingly more small and midsize companies filing for bankruptcy or closing, many financial executives are paying more attention to managing credit risk. But many of them do not know exactly how to do it. "We still find that many companies are not looking outside traditional credit practices to proactively assess what their risks are," said Pam Krank, president of Credit Department, a consulting and outsourcing firm. "... [Chief financial officers] are often very surprised by what's actually happening in their own companies."

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