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

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

Explore the Trendline➔

CFO 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

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

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

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

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

Tesla CFO eyes pullback in EV market amid slumping sales, restructuring

Tesla is leaning on AI, layoffs and new autonomous projects to help boost its future sales after a disappointing first quarter. 

By Grace Noto • April 24, 2024

Shifting accounting norms for the AI age: EY

The rise of AI in the accounting space could bolster the need for core financial skills and expertise, EY’s Daren Campbell says.

By Grace Noto • April 23, 2024

ADM’s suspended CFO to resign amid accounting scandal

Vikram Luthar — who was placed on a forced leave in January — will assist the company and be paid his base salary until his resignation is effective on Sept. 30.

By Maura Webber Sadovi • April 23, 2024

Big Six tech firms’ profit momentum could be headed for collapse: UBS

The companies’ growth in earnings per share is projected to drop to 15.5% by the first quarter of 2025, from an estimated 42.2% for the same period in Q1 2024.

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

Mobico CFO steps down following delayed financial results

The public transport company appointed an interim CFO after reporting a 36% drop in profit, impacted by inflationary pressures and labor shortages in key markets.  

By Grace Noto • April 22, 2024

Controllers hunt for workarounds to ‘continuous’ reporting, accountant shortage

As leaders of their firms’ accounting operations, many controllers are outsourcing work and using AI to speed accounts payable and receivable tasks.

By Chris Gaetano • April 19, 2024

Jabil CFO steps up as CEO is placed on paid leave

The manufacturer’s CFO is stepping into the interim CEO seat after Jabil struggled with “revenue headwinds” amid an ongoing restructuring and cost realignment plan.

By Grace Noto • April 19, 2024

Accounts receivable automator Versapay taps new CFO

Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.

By Maura Webber Sadovi • April 18, 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

NYCB hires new CFO, general counsel

The beleaguered Long Island-based lender brought aboard four executives Friday whose careers had crossed paths with that of newly minted CEO Joseph Otting.

By Dan Ennis • April 15, 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

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

KFC names new CFO amid push to boost sales

The finance leadership change comes as KFC struggles with dwindling traffic in a dicey economic environment.

By Alexei Alexis • April 10, 2024

Interim CFO requests skyrocket 46%: BTG

Companies are turning to interim financial leadership more frequently as they struggle to fill widening gaps in their accounting and finance functions.  

By Grace Noto • April 9, 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

As Zillow alum takes the financial helm, Varo Bank sets sights on profitability

Varo’s Allen Parker is focused on “ensuring finance can play a role in how we prioritize our investments” which will be critical to achieving profitability, he said.

By Grace Noto • April 8, 2024