Yes, a COO is higher than a CFO. Both the chief operating officer (COO) and the chief financial officer (CFO) report directly to the chief executive officer (CEO). However, COO is usually considered the second-highest C-suite executive rank after the CEO (i.e., CEO < COO < CFO)
The CFO is responsible for analyzing and reviewing financial data, reporting financial performance, preparing budgets, and monitoring expenditures and costs. The COO, on the other hand, is responsible for the daily corporation's operations.
The CFO is required to present this information to the board of directors at regular intervals and provide it to shareholders and regulatory bodies such as the Securities and Exchange Commission (SEC). Also usually referred to as a senior vice president, the CFO routinely checks the corporation's financial health and integrity.
