Financial Reporting
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Sakorn Sukkasemsakorn
Nonprofit MDA CFO attributes $5M cost reduction to streamlined operations, tech
Since rising to the CFO chair in 2018, Michael Kennedy pared down the nonprofit’s back-end from 65 systems to one platform.
By Grace Noto • May 16, 2024 -
Courtesy of Kyriba
First-time CFO looks to sharpen Kyriba’s FP&A approach
Adam Drew in March became the San Diego, California-based treasury and finance platform provider’s first permanent CFO in more than a year.
By Maura Webber Sadovi • May 16, 2024 -
Explore the Trendline➔
KanawatTH via Getty Images
TrendlineCFO best practices in the evolving generative AI era
As the initial frenzy around the launch of generative artificial intelligence subsides, a new GenAI era appears to be taking shape.
By CFO Dive staff -
U.S. Navy. (31 March 2009). "Northrop Grumman's E-2D Advanced Hawkeye aircraft" [Photograph]. Retrieved from Wikimedia Commons.
Northrop Grumman names new CFO in leadership shakeup
The transition comes on the heels of some volatility in the defense industry giant’s financial performance.
By Alexei Alexis • May 15, 2024 -
hapabapa via Getty Images
Brex CFO mulls long-term IPO scenario but keeps eye on costs, ROI
The prevailing attitude among companies seeking to go public is to achieve profitability beforehand, Ben Gammell said.
By Grace Noto • May 14, 2024 -
CFO Editorial Staff
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 -
Michael M. Santiago via Getty Images
Ex-Trump CFO Weisselberg could appear in hush money trial: Reports
The terms of Allen Weisselberg’s $2 million severance agreement are under a spotlight once again as Trump’s latest legal battle with New York state unfolds.
By Grace Noto • May 13, 2024 -
Courtesy of Pat Dorsman for FAF
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 -
Spencer Platt via Getty Images
Ford CFO tapped as vice chair; Lucid Motors exec set to succeed
Ex-Lucid Motors CFO Sherry House will receive a $1.2 million cash sign-on bonus as Ford's VP of finance.
By Grace Noto • May 10, 2024 -
Courtesy of Nerdwallet
Nerdwallet CFO champions user growth in face of credit, lending headwinds
The former eBay and StubHub executive is keeping her eye on uncertainty in the banking sector and other headwinds following a mixed quarter.
By Grace Noto • May 9, 2024 -
dem10 via Getty Images
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 -
Mario Tama via Getty Images
UPS CFO set to depart, citing health
The parcel delivery service’s CFO will be stepping down to focus on his personal health as UPS struggles to boost sagging shipping volumes.
By Grace Noto • May 7, 2024 -
Chip Somodevilla via Getty Images
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 -
Brian Ach via Getty Images
Coca-Cola exec to take Diageo CFO seat
Diageo is tapping Coca-Cola alum Nik Jhangiani for its CFO as the Guinness maker battles slumping sales in the face of changing consumer tastes and spending trends.
By Grace Noto • May 6, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
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 -
Joe Raedle via Getty Images
Peloton cuts jobs, searches for new CEO amid financial turmoil
“We made some very tough decisions, and while we firmly believe these actions are the right thing to do for the business, cuts like this are painful,” CFO Liz Coddington said.
By Alexei Alexis • May 2, 2024 -
Michael M. Santiago via Getty Images
Marriott gears up for another year of major tech spending
The company expects full-year investments to reach $1 billion as digital transformation projects advance, according to its latest earnings call.
By Lindsey Wilkinson • May 2, 2024 -
Courtesy of AWS
Amazon clinching bigger, longer cloud deals after AI boost: CFO
Amazon is the latest tech giant whose hefty AI spending has been rewarded by Wall Street in the current earnings season. Meta has been an exception.
By Alexei Alexis • May 1, 2024 -
ktasimarr via Getty Images
Deep DiveModern 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 -
Kelly Sullivan via Getty Images
Meta falls in AI reckoning as Microsoft, Google soar
Investors rewarded AI spending strategies at Microsoft and Google but rebuffed Meta, whose stock plummeted.
By Alexei Alexis • April 30, 2024 -
NicoElNino
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 -
Courtesy of Cannabis plants
Cannabis firm MedMen files for bankruptcy
MedMen is liquidating its California assets following a failure to clamp down on excessive debt, with its seventh CFO in a five year period exiting ahead of its bankruptcy.
By Grace Noto • April 29, 2024 -
Courtesy of Chemours
Chemours CFO resigns following accounting investigation
Jonathan Lock’s resignation comes after an internal audit determined he had engaged in unethical financial practices.
By Grace Noto • April 26, 2024 -
Michael Loccisano/FilmMagic via Getty Images
Former Chuck E. Cheese exec takes Dave & Buster’s CFO seat
The change comes as Dave & Buster's looks to drive growth through a dining experience overhaul, among other initiatives.
By Alexei Alexis • April 25, 2024 -
CFO Editorial Staff
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 -
Hollie Adams via Getty Images
Heathrow CFO transitions to COO role
Javier Echave is exiting the CFO role on a high note, after a record 18.5 million passengers traveled through the airport during the first quarter.
By Alexei Alexis • April 24, 2024
