SEC General Counsel defends climate risk disclosure rule

Republican lawmakers accused the SEC’s top attorney of stonewalling requests for information on the agency’s regulation and enforcement.

By Jim Tyson • June 22, 2023

Judge delays hearing on suits piling up against SVB, execs

Just over three months after SVB Financial Group was closed by regulators, at least four proposed class actions have been filed against the firm and its former top executives.

By Maura Webber Sadovi • June 21, 2023

Explore the Trendline➔

Top 5 stories from CFO Dive

The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.

By CFO Dive staff

CFO pleads guilty to $6M employment tax crime

The CFO willfully failed for several years to file required quarterly employment tax returns or pay taxes withheld from employees’ wages to the IRS, DOJ said.

By Alexei Alexis • June 14, 2023

IRS waives penalty tied to new 15% corporate minimum tax

Companies have an extra year to determine their liability under the complex minimum tax signed into law last year.

By Jim Tyson • June 8, 2023

California lawmaker weighs in on FASB crypto proposal

Sherman, a ranking member of the House Financial Services’ Subcommittee on Capital Markets, has sought to ban crypto — which he has called “an electronic pet rock.”  

By Maura Webber Sadovi • June 8, 2023

Crypto heavy hitters largely back FASB fair-value fix

The support that the proposed accounting change has drawn from many crypto companies contrasts with the history of tension between the young sector and regulators.  

By Maura Webber Sadovi • June 7, 2023

PCAOB aims to sharpen auditor focus on fraud

The U.S. audit watchdog said its newest proposal would speed notification of noncompliance, reducing ultimate costs to investors.

By Jim Tyson • June 7, 2023

Canadian regulators suspend ex-blockchain CEO, CFO

Robert Earle Dawson and David Malcolm Alexander were temporarily suspended for misrepresenting that their former company would retain just a small portion of funds raised. 

By Maura Webber Sadovi • June 6, 2023

GOP lawmakers tell Gensler not to bow to EU’s tough climate rules

The Biden administration aims to allow strict EU standards on climate risk to guide actions by U.S. companies, according to top Republican legislators.

By Jim Tyson • June 6, 2023

FASB tax disclosure plan draws fire

Some heated feedback elicited by the proposed new tax disclosure requirements suggests the road to consensus might still be rocky.

By Maura Webber Sadovi • June 1, 2023

Accessible tech advocate Haben Girma gets CFO audience

Girma, the first blind and deaf woman to graduate from Harvard, is set to speak at Gartner’s 2023 CFO & Finance Executive Conference.

By Alexei Alexis • May 30, 2023

Accounts payable shouldn’t be a cost center

CFOs are under growing pressure to drive efficiencies at zero cost. Leveraging intelligent automation to process invoices can help, Steven Cronin writes.

By Steven Cronin • May 26, 2023

ChatGPT aces CPA exam after prior version flunked

ChatGPT-3.5 took the CPA exam and got an “F.” The newest version of the AI learned from the failure, however, and nailed the test, researchers said.

By Jim Tyson • May 25, 2023

SEC enforcement not ‘a game of gotcha,’ Grewal says

The SEC will press on with aggressive enforcement while seeking to collaborate with companies under scrutiny, the agency’s enforcement director said.   

By Jim Tyson • May 23, 2023

Investors oppose using ESG criteria in retirement funds: Gallup

U.S. companies face intense pressure to embrace sustainability even as many Americans do not want ESG goals to guide the investment of their retirement money.

By Jim Tyson • May 22, 2023

Ex-fabric CFO accused of losing $35M in crypto crash

The former CFO is charged with investing the funds without permission into his own crypto venture before losing them during the market’s crash, according to a federal indictment.

By Grace Noto • May 18, 2023

SEC fines 10 microcaps for flawed stock offerings

The SEC sanctioned small companies that failed to follow rules under Regulation A, which offers early-stage businesses a low-cost way to raise capital.

By Jim Tyson • May 16, 2023

U.S. Chamber sues SEC, slamming buyback rule

An effort to block rules on stock repurchases is the latest pushback by business groups against an unusually active regulatory agenda at the SEC.

By Jim Tyson • May 15, 2023

Retailers lag, energy firms lead in environmental disclosures: Fitch

Standards for gauging sustainability are gelling amid a backlash against government plans to require corporate disclosure on climate risk.

By Jim Tyson • May 12, 2023

FASB’s tax proposal will ‘change the game’

Previous FASB calls for greater income tax transparency have drawn pushback from businesses. This time the initiative appears to be gaining steam.

By Maura Webber Sadovi • May 12, 2023

FASB moves to tweak carried interest accounting

The FASB’s proposed changes to accounting guidance on so-called carried interest isn’t likely to make the same kind of waves that proposed changes to related tax rules caused.

By Maura Webber Sadovi • May 11, 2023

PwC, KPMG China audits are flawed: PCAOB

The PCAOB findings follow U.S. success in overcoming opposition from Beijing to the inspection of audits of China-based companies listed on U.S. stock exchanges.

By Jim Tyson • May 11, 2023

RS Group CFO resigns over relationship with colleague

A month following a C-suite shakeup, RS Group’s CFO is resigning due to a relationship with an employee.

By Elizabeth Flood • May 3, 2023

Audit partners suffer after writing critical ICOs: study

Audit firms face a conflict between sustaining income from client fees and their legal obligation to identify weaknesses in a client’s internal controls, researchers said.

By Jim Tyson • April 28, 2023

AI to help with ‘day two’ lease accounting

With the FASB issuing updated guidance, the proper use of AI will be key for growth.

By Elizabeth Flood • April 27, 2023