The idea of a GC reporting to a CFO is a lunacy. It is like a controller reporting to a CRO.
Edit: I am fascinated by the downvote.
The job of GC is to prevent a company from doing things that would create legal issues for the company. Both CEO and CFO have a reason to push the company to take risks, including legal risks. Neither should be able to fire the GC. Therefore GC should report to the board of directors not to the CEO and definitely not to the CFO.
The job of a controller is to oversee accounting. The top level person who is likely to engage in creative accounting is the head of sales/chief revenue officer. Controller reporting to the CRO creates an incentive of a controller to take CRO positions rather than purely accounting positions. Therefore controller should either report to CFO or CEO.
Edit: I am fascinated by the downvote.
The job of GC is to prevent a company from doing things that would create legal issues for the company. Both CEO and CFO have a reason to push the company to take risks, including legal risks. Neither should be able to fire the GC. Therefore GC should report to the board of directors not to the CEO and definitely not to the CFO.
The job of a controller is to oversee accounting. The top level person who is likely to engage in creative accounting is the head of sales/chief revenue officer. Controller reporting to the CRO creates an incentive of a controller to take CRO positions rather than purely accounting positions. Therefore controller should either report to CFO or CEO.