Feds OK 18-month LIBOR reprieve

Existing instruments are expected to be main beneficiaries; new issues still on track to use different rates.

By Robert Freedman • Dec. 14, 2020

SEC fines GE $200M, disclosure failures of cost estimate changes at core of penalty

The company never disclosed some profits from its power business stemmed from changes to cost estimates, not increased business, the SEC alleges. 

By Robert Freedman • Dec. 10, 2020

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

Cheesecake Factory misled on COVID-19 disclosures, SEC says

The company told the SEC it was operating sustainably, but only had 16 weeks of cash available.

By Robert Freedman • Dec. 5, 2020

Sustainability reporting nearly universal among large companies, survey finds

Although some reporting standards are widely used, there isn’t a single framework for companies to ensure accurate measurement and communication of their environmental impact, a KPMG survey found. 

By Robert Freedman • Dec. 2, 2020

Transition away from US dollar LIBOR, bank regulators say

The rate-setting index goes away in a year, but banks are advised to start using other rates now. 

By Robert Freedman • Dec. 1, 2020

Last-ditch SEC effort on gig worker equity pay expected to fail

A Biden administration is unlikely to support internet platform companies' desire to pay up to 15% of gig workers' pay in shares.

By Robert Freedman • Dec. 1, 2020

SEC charges e-commerce startup with defrauding investors

CEO Andrew Chapin told investors Benja was a successful online advertising platform, generating millions of dollars in revenue from popular consumer clothing brands and retailers, but it wasn't. 

By Robert Freedman • Nov. 24, 2020

IRS reiterates PPP-paid expenses not deductible if loan forgiven

Lawmakers will seek to reverse the guidance in upcoming legislation.

By Robert Freedman • Nov. 22, 2020

SEC Chairman Jay Clayton to step down

The agency's focus included deregulation, IPOs and the whistleblower program under the Trump appointee's leadership.  

By Robert Freedman • Nov. 16, 2020

Using data analytics to improve audit functions

Data analytics let finance leaders employ a risk-based approach to conducting internal and compliance audits and prioritize improvements when problems are found.  

By Greg Buchanan, Michael Costa and Ed Levy • Nov. 8, 2020

Violators pay SEC a record $4.7B in judgments

The agency brought hundreds of enforcement actions against companies and individuals in the fiscal year just closed, despite the pandemic. 

By Robert Freedman • Nov. 4, 2020

Wirecard CFO released from jail amid accounting fraud investigation

Burkhard Ley was released on bail Monday after German prosecutors found most of the fraudulent fintech's crimes to have been committed following his departure from the company in 2017.

By Jane Thier • Nov. 4, 2020

SEC hits Goldman Sachs with $2.9B bribery fine; $174M in compensation clawed back

The penalty is the largest imposed on a U.S. company under the Foreign Corrupt Practices Act, the Department of Justice says. 

By Robert Freedman • Oct. 25, 2020

SEC charges Andeavor for inadequate controls

The company failed to show a stock buyback complied with a policy prohibiting repurchases while it was in possession of material non-public information.

By Robert Freedman • Oct. 20, 2020

SEC eases auditor independence rules

Audit firms are less likely to get in trouble for working with affiliated companies.

By Robert Freedman • Oct. 19, 2020

Pandemic increases need for specialists to aid accounting teams

The American Institute of CPAs, with partner groups, has released guidelines to help finance chiefs as they manage non-accounting experts to help with valuations, other disrupted work.  

By Ted Knutson • Oct. 15, 2020

Efforts to increase IPOs through deregulation gets thumbs down from SEC commissioner

IPOs have been declining for years, but "reflexively blaming overregulation" is not the answer, SEC Commissioner Allison Herren Lee said. 

By Ted Knutson • Oct. 12, 2020

COVID-19 intensifying audit committee work

Helping CFOs and their teams make forward-looking assessments against pandemic uncertainty has become a focus, a survey shows. 

By Robert Freedman • Oct. 11, 2020

SAExploration CEO, CFO accused of accounting fraud

The SEC has accused the Houston-based seismic data company of perpetrating a $100 million accounting fraud involving routing payments through shell companies.

By Jane Thier • Oct. 9, 2020

SEC penalizes Hilton $600K for disclosure lapse

The federal agency used risk-based data analytics to find Virginia-based Hilton Worldwide Holdings in violation of requirements to disclose executive perks. 

By Robert Freedman • Oct. 8, 2020

As regulators step up data analytics, companies must do the same

Complying with government document requests is becoming too difficult and risky without predictive analytics tools, an e-discovery specialist says.

By Robert Freedman • Oct. 6, 2020

M&A politicization presents new CFO challenges

The Trump Administration's call for an American company to oversee U.S. operations of TikTok adds a level of uncertainty to future cross-border deals involving consumer technology.

By Ted Knutson • Oct. 1, 2020

HP hit with $6M fine for violating disclosure controls

The company used incentives to "pull-in" to the current quarter sales of supplies they otherwise expected to materialize in later quarters. 

By Robert Freedman • Oct. 1, 2020

Auditors can improve non-GAAP measures, group says

Inconsistent calculation of EBITDA and other metrics not used in formal reporting can be made more informative if they're subject to external review.  

By Robert Freedman • Oct. 1, 2020

Former Boston Grand Prix CFO arrested for federal fraud, tax scheme

Prosecutors have charged John Casey with eight counts of wire fraud, one count of aggravated identity theft, three counts of money laundering, and three counts of filing false tax returns.

By Jane Thier • Sept. 30, 2020