Financial Reporting: Page 12
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Tax compliance costs surge 32% since 2017: Tax Foundation
Efforts to simplify the federal tax code have failed to reverse decades of regulatory and legislative changes that have made it more complex.
By Jim Tyson • Sept. 5, 2024 -
Courtesy of ADM
New ADM CFO to tackle ‘root cause’ of material weakness
Just weeks into his CFO tenure, Monish Patolawala said he’d prioritize remediating the accounting woes that have rocked the company this year.
By Maura Webber Sadovi • Sept. 4, 2024 -
Explore the Trendline➔
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TrendlineTop 5 stories from CFO Dive
Tarifff headwinds along with the accounting talent shortage and the promises and traps of generative AI, are among the top issues CFOs are grappling with this year.
By CFO Dive staff -
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SEC fines credit rating firms $49M for record-keeping flaws
Employees at some of the firms routinely discussed credit ratings on their personal communication devices, the SEC said.
By Jim Tyson • Sept. 4, 2024 -
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ESG controllers: The newest finance hires
Depending on the company’s structure, the specialized controllers often report to the corporate controller or the CFO, Deloitte’s Kristen Sullivan said.
By Maura Webber Sadovi • Sept. 3, 2024 -
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Paysafe taps FIS alum for CFO amid growth pivot
The iGaming payments platform is looking to expand on its “robust” performance in the first half of the year with the appointment of new financial leadership.
By Grace Noto • Sept. 3, 2024 -
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Dollar General CFO cites inflation, cost pressures as shares slump
“The customer will continue to feel financial pressure for the duration of the year,” CFO Kelly Dilts said on the company’s second quarter earnings call.
By Suman Bhattacharyya • Aug. 30, 2024 -
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Trump case sparks request for FASB accounting rule revamp
Daniel Tinkelman, a professor of accounting at Brooklyn College of the City University of New York, is asking the FASB to revise and clarify the GAAP rules.
By Maura Webber Sadovi • Aug. 29, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC charges Navy shipbuilder Austal with accounting fraud
Austal understated an accounting metric known as “estimate at completion” for the construction of Littoral Combat Ships, according to SEC allegations.
By Jim Tyson • Aug. 28, 2024 -
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Super Micro delays 10-K filing to assess internal controls
The AI server maker delayed its 10-K as experts partly blame a recent spike in tardy annual reports on the accounting talent shortage and increased regulation.
By Maura Webber Sadovi • Aug. 28, 2024 -
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Cannabis firm Ascend terminates CFO, CEO amid refinancing push
Ascend is the third large cannabis company to see its CEO out the door this month.
By Grace Noto • Aug. 28, 2024 -
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Trump Media CFO sells $1.9M in company stock
The sale comes as a six-month ban preventing former President Donald Trump from selling his own stock in the beleaguered company inches to an end.
By Grace Noto • Aug. 26, 2024 -
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Longtime Zoom Video CFO to step down
Kelly Steckelberg is leaving the video conferencing platform after seven years as CFO.
By Grace Noto • Aug. 22, 2024 -
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SEC approves tougher rules targeting auditor ‘negligence’
Two out of the agency’s five commissioners voted against the stricter standards, warning that they may hinder efforts to expand the ranks of auditors.
By Jim Tyson • Aug. 21, 2024 -
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Marqeta CFO eyes fintech ‘winners’ following mixed earnings
With the fintech sector maturing, the card issuing platform is turning its attention to capitalizing on rising opportunities in the space, CFO Mike Milotich said.
By Grace Noto • Aug. 21, 2024 -
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Dentsply initiates CFO search following layoffs, restructuring
Glenn Coleman is leaving as the dental supply company struggles to regain its footing after a 2022 accounting probe uncovered ethical violations by ex-CFO Jorge Gomez.
By Grace Noto • Aug. 20, 2024 -
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47% of US firms suffered data breach resulting in severe financial loss
The study comes as the global average cost of a breach has hit nearly $4.9 million this year, according to an IBM estimate.
By Alexei Alexis • Aug. 20, 2024 -
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Icahn Enterprises pays $1.5M to settle SEC charges
The civil penalties come more than a year after a short seller’s report lambasted Icahn Enterprises for alleged “Ponzi-like economic structures.”
By Grace Noto • Aug. 19, 2024 -
CFO Editorial Staff
PCAOB says deficiencies rise among reports by audit firms
Inspections of nearly half of the firms’ engagements reviewed by the PCAOB revealed evidence that the auditor failed to obtain enough evidence to support its opinion.
By Jim Tyson • Aug. 16, 2024 -
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Walmart used AI to crunch 850M product data points and improve CX
“We're finding tangible ways to leverage generative AI to improve the customer, member and associate experience,” Walmart CEO Doug McMillon said.
By Bryan Wassel • Aug. 15, 2024 -
Chip Somodevilla via Getty Images
SEC imposes $390M in fines in crackdown on shoddy record-keeping
The agency that regulates Wall Street in the past year has slammed several financial services companies for flawed record-keeping.
By Jim Tyson • Aug. 15, 2024 -
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Cisco plans to cut 7% of workforce amid AI push
The tech giant is “shifting hundreds of millions of dollars” into artificial intelligence and other growth areas of its business, CEO Chuck Robbins said.
By Alexei Alexis • Aug. 15, 2024 -
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Chipotle CFO postpones retirement; stays on in president role
Jack Hartung will stay on to help advise Chipotle’s leadership following Brian Niccol’s planned jump to Starbucks.
By Grace Noto • Aug. 14, 2024 -
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Starbucks taps CFO for interim CEO in midst of leadership shift
Starbucks alum Rachel Ruggeri will step in as interim CEO as the coffee chain continues to fight labor activists and political protesters, leading to slumping sales.
By Grace Noto • Aug. 13, 2024 -
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M&A, vendor reliance help drive up ransomware threat: report
The financial severity of claims related to ransomware attacks increased more than 400% from 2022 to 2023, the study found.
By Alexei Alexis • Aug. 13, 2024 -
metamorworks/istockphoto.com
Sponsored by WilliamsMarstonThe first 100 days: 4 key considerations after a private equity acquisition
The first 100 day period calls for an all-hands-on-deck approach to set a comprehensive plan for people, processes and technology to address both short-term needs and future value creation goals.
By Sarah Owings, WilliamsMarston Partner • Aug. 12, 2024
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