your company sounds like they know what they are doing. Cloudformation will take your infrastructure from point A to point B or roll it back in case of failure. Terraform, not so much.
I really wish terraform will one day reach the same features and maturity as cloudformation.
If there is one thing TF needs to learn to do is handle failure. Right now it has that rosy yolo approach leaving you to pick up the pieces when it fails.
Until it doesn't. How many times I've seen stack being in error because could not rollback.
CF can't do trivial things like creating a resources in account A that is needed for account B.
Here is a challenge for you: Deploy a moderate to complex infra with Terraform and after that try to clean up all the resources it created. 50$ says Terraform cannot do it and you need some sort of manual/script intervention. The future is bright.