Compliance
-
Powell sees longer inflation fight, ‘very small’ odds of Fed rate hike
“We have the highest interest rates in some time,” Powell said Tuesday. “The question is, ‘is it sufficiently restrictive?’”
By Jim Tyson • May 14, 2024 -
PCAOB adopts updated ‘foundational’ rules requiring faster audit filing
The U.S. audit watchdog updated standards created two decades ago and aligned regulation with changes in technology.
By Jim Tyson • May 13, 2024 -
Trendline
ESG transforming CFO role
Companies are turning to their CFO to identify ways to measure and report on their organization's environmental, social and governance performance.
By CFO Dive staff -
FASB crafts workarounds to proposed expense rule’s pain points
On the heels of new crypto accounting rules, the FASB’s proposed expense standards also represent a big change for many public company report preparers.
By Maura Webber Sadovi • May 10, 2024 -
More companies are tying ESG metrics to executive compensation: WTW
Despite political blowback in the U.S., companies are increasingly incorporating ESG metrics into performance measures and incentive plans, according to the insurance services provider.
By Suman Bhattacharyya • May 9, 2024 -
Generative AI enables small accounting firms to challenge big ones: AICPA
Accountants should respond to the rapid pace of generative AI adoption by embracing it and delving into experimentation, the AICPA said.
By Jim Tyson • May 7, 2024 -
Trump Media replaces auditor charged with fraud
The Sarasota, Florida-based media company dismissed its former auditor on Friday, the same day the SEC charged BF Borgers with “massive fraud.”
By Maura Webber Sadovi • May 6, 2024 -
Only 34% of firms deploy safeguards against generative AI threats: Splunk
Generative AI gives cyberattackers an edge over cyber-defenders, according to security experts surveyed by Splunk.
By Jim Tyson • May 6, 2024 -
SEC hits Trump Media auditor with $12M fine
BF Borgers, an auditor of public company financial statements, has committed massive fraud impacting more than 1,500 SEC filings, the agency said.
By Alexei Alexis • May 3, 2024 -
Deep Dive
Modern finance team makeovers: Chief accounting officers
CFOs and CAOs have developed a “symbiotic relationship” as the finance function morphs into a driver of business strategy.
By Grace Noto • April 30, 2024 -
Internal audit leaders need to hire more tech-savvy accountants: IIA
Companies hiring for internal audit need to prepare for disruption from new technology such as artificial intelligence and robotic process automation, IIA said.
By Jim Tyson • April 29, 2024 -
Opinion
Proposed PCAOB rule risks turning auditors into legal watchdogs
The NOCLAR proposal would impose on auditors greatly expanded responsibilities for identifying — or even preventing — noncompliance with a very wide range of laws, PwC’s Brian Croteau writes.
By Brian Croteau • April 25, 2024 -
High Court ruling eases blow of SEC’s new cyber rules: analysts
The court’s decision in Macquarie Infrastructure Corp. v. Moab Partners makes it harder for plaintiffs to bring claims based on omissions in SEC filings.
By Alexei Alexis • April 23, 2024 -
HeadSpin founder Lachwani sentenced to 18 months in prison for fraud
The former CEO of HeadSpin — ordered to pay a $1 million fine — faces a July hearing focused on compensating bilked investors.
By Jim Tyson • April 22, 2024 -
CEOs, CFOs can’t get non-prosecution agreement under DOJ pilot
Criteria released by the Department of Justice April 15 lets corporate executives know if they stand a good chance of avoiding charges for coming forward with misconduct allegations.
By Robert Freedman • April 19, 2024 -
Werfel sees IRS budget request yielding $341B in extra revenue
The IRS chief testified to a Senate committee after Republican lawmakers secured a $20-billion cut to the agency’s budget.
By Jim Tyson • April 17, 2024 -
Orthofix replaces fired CLO, grapples with internal control ‘material weakness’
The new chief legal officer is joining the company as it faces a fresh set of headwinds related to its internal control over financial reports.
By Maura Webber Sadovi • April 17, 2024 -
Biden tax negotiator rejoins KPMG as election weighs on Pillar 2 prospects
Although the U.S. has yet to sign on, the OECD’s new Pillar Two tax rules already apply in more than 30 countries, Michael Plowgian said.
By Maura Webber Sadovi • April 16, 2024 -
70% of CEOs feel ready to deliver on responsible GenAI
The intense focus on safe and ethical GenAI use comes as the technology’s rapid rise is prompting scrutiny from governments around the world.
By Alexei Alexis • April 16, 2024 -
Opinion
The CFO’s role in curbing third-party cybersecurity risk
With vendor-related cyber risks spiking rapidly, the stakes are too high for CFOs to treat the issue as merely an IT concern, writes cybersecurity consultant AJ Yawn.
By AJ Yawn • April 16, 2024 -
CFOs mull future benefits for AI in tax: insightsoftware
When it comes to bringing AI into tax, it remains a bit of a “wait and see” for finance chiefs, said insightsoftware’s Josh Schauer.
By Grace Noto • April 11, 2024 -
Suspended ADM CFO’s pay ticked up in 2023 to $4.5M
The majority of Vikram Luthar’s pay package for last year came from $3.4 million in stock awards, according to Archer Daniels Midland’s proxy filing.
By Maura Webber Sadovi • April 11, 2024 -
Lack of uniform standards and disclosures a roadblock to scaling transition finance: report
A lack of standardized definitions, metrics and transition finance instruments endorsed by international organizations threatens broader adoption, the CFA Institute said.
By Suman Bhattacharyya • April 11, 2024 -
PCAOB levies record $25M fine on KPMG Netherlands for exam cheating
The $25 million penalty is the largest fine of any type imposed by the auditor watchdog since it was created in 2002 following the Enron accounting scandal.
By Maura Webber Sadovi • April 10, 2024 -
Nation-state actors drive up cyberthreats
Microsoft and Hewlett Packard Enterprise are among companies that have recently reported high-profile cyber intrusions attributed to nation-state actors.
By Alexei Alexis • April 9, 2024 -
Companies fall short on curbing cybersecurity risks from vendors: Moody’s
Cyberrisks are mounting, with artificial intelligence likely to increase the threat of attack in the short to medium term, Moody’s said.
By Jim Tyson • April 8, 2024