Financial Reporting: Page 16
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Werfel defends IRS against Republican efforts to slash funding
Before the approval of $80 billion in extra funding in 2022, the Internal Revenue Services fielded just one examiner for every 150 of the largest tax filers, IRS Commissioner Daniel Werfel said.
By Jim Tyson • Feb. 15, 2024 -
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Krispy Kreme faces double-digit inflation in some costs: CFO
The company is grappling with soaring sugar prices as the fight to keep inflation down remains an ongoing challenge for the Federal Reserve.
By Alexei Alexis • Feb. 14, 2024 -
Explore the Trendline➔
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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 -
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Lyft shares rise 35% after earnings report typo sparks confusion
An “extra zero” added to a press release sent Lyft stock soaring. It subsided after clarification of the number but still closed at a 52-week high.
By Grace Noto • Feb. 14, 2024 -
Courtesy of Hewlett Packard Enterprse
HPE seeks to recoup $4B in long-running fraud case
Hewlett Packard Enterprise attorneys want the founder and ex-CFO of Autonomy to pay for the steep losses HPE faced after acquiring their firm.
By Maura Webber Sadovi • Feb. 12, 2024 -
Shutterstock/ Lemonsoup14
Sponsored by Oak Point PartnersInnovative asset management category provides new opportunity for top companies
A new asset management category – called remnant asset monetization – can add value to your company, potentially well into the millions of dollars or more. In fact, this groundbreaking new category is a $100+ Billion previously untapped market.
Feb. 12, 2024 -
Courtesy of Enerpac
Enerpac Tool appoints interim finance chief
The Menomonee Falls, Wisconsin-based industrial tool maker appointed its head of financial planning to the interim CFO position.
By Grace Noto • Feb. 9, 2024 -
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R&D tax rollback proposal leaves CFOs ‘on edge’
Many businesses applauded when a tax package with the key R&D provision sailed through the U.S. House. Now they’re waiting for the Senate to act.
By Maura Webber Sadovi • Feb. 8, 2024 -
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Ex-CFO’s alleged perjury should not impact Trump civil fraud decision, lawyers say
Reports of potential perjury raise questions about the credibility of the former finance chief’s testimony during the Trump Organization’s civil fraud trial.
By Grace Noto • Feb. 8, 2024 -
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Walgreens names permanent CFO in management shakeup
The pharmacy chain’s recently-installed CEO announced executive team changes as the company looks for a fresh start after financial struggles.
By Alexei Alexis • Feb. 8, 2024 -
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CEO, CFO compensation clawback helps tech firm skirt SEC fine
Cloopen Group avoided civil penalties after cooperating with the agency and taking remedial steps, despite an accounting fraud scandal that triggered SEC charges.
By Alexei Alexis • Feb. 7, 2024 -
Stephanie Keith via Getty Images
Ex-Trump CFO could face prison again, experts say
Judge Arthur Engoron shone a spotlight on the ex-CFO’s credibility in a Tuesday email, asking attorneys in the Trump civil fraud case for clarity on the potential plea.
By Grace Noto • Feb. 6, 2024 -
(Justin Sullivan/Getty Images) via Getty Images
Clorox says it incurred $49M in costs from 2023 cyberattack
The breach caused system disruptions that led to order processing delays and “significant product outages,” negatively impacting net sales and earnings.
By Alexei Alexis • Feb. 6, 2024 -
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Solo Brands appoints Vitamin Shoppe exec as new CFO
The leadership swap comes after Solo replaced its CEO and lowered its revenue guidance for 2023 following disappointing sales.
By Grace Noto • Feb. 5, 2024 -
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Enterprise cloud spend jumped in Q4, nudged upward by AI
The power balance among AWS, Microsoft and Google Cloud shifted slightly as infrastructure services saw the largest ever quarter-over-quarter market expansion recorded by Synergy Research Group.
By Matt Ashare • Feb. 5, 2024 -
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Ex-Trump CFO in perjury plea talks: NY Times
A potential deal requiring ex-Trump CFO Allen Weisselberg admit to perjury comes as a ruling is imminent in the NY AG’s $370 million civil fraud case.
By Grace Noto • Feb. 2, 2024 -
Courtesy of Sanofi
Sanofi appoints Nestlé executive as new finance chief
François-Xavier Roger will replace current CFO Jean-Baptiste Chasseloup de Chatillon as Sanofi continues a research pivot and cost-cutting drive.
By Delilah Alvarado • Feb. 1, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC wins legal victory against former tech CFO in accounting fraud case
Former CFO Karen Rosenberger is accused of helping software provider Synchronoss to engage in “long-running accounting improprieties.”
By Alexei Alexis • Jan. 31, 2024 -
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Microsoft rides AI fervor to $62B in sales
The company’s move to incorporate AI has represented “a real pivot of our investment infrastructure,” CFO Amy Hood said.
By Grace Noto • Jan. 31, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
Aon pays $1.5M SEC penalty over key return rate discrepancies
The Pennsylvania pension fund staff repeatedly raised questions about Aon’s return rate calculations, noting a 37 basis point discrepancy, the SEC found.
By Maura Webber Sadovi • Jan. 29, 2024 -
Justin Sullivan via Getty Images
TIAA sues SVB ex-CEO, ex-CFO to recoup investment losses
The conduct of Silicon Valley Bank’s former leaders has come under heavy fire since its collapse last year, which marked the largest banking failure seen since 2008.
By Grace Noto • Jan. 29, 2024 -
Courtesy of City of Marshall
Archer Daniels Midland investor sues firm, CEO, CFO, ex-CFO
The proposed class action alleges ADM and top executives concealed the true financial picture of the agricultural giant’s nutrition business.
By Maura Webber Sadovi • Jan. 26, 2024 -
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Superdry CFO to depart as UK retailer warns of rough market conditions
The departure marks the fourth finance chief to leave the troubled retailer in a half-decade.
By Grace Noto • Jan. 26, 2024 -
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OpinionHolding out for a bankruptcy ‘cram down’? Think again.
C-suites should take a hard look at the true cost of bankruptcy before filing for Chapter 11, Lowenstein Sandler’s Kenneth A. Rosen writes.
By Kenneth A. Rosen • Jan. 25, 2024 -
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76% of companies link pay to ESG performance in rising trend: WTW
The biggest companies are weaving ESG into pay incentives despite a backlash against the use of sustainability as a metric for corporate performance.
By Jim Tyson • Jan. 24, 2024 -
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CFO of beleaguered smart window manufacturer View to resign
View’s finance chief is departing as the company scrambles to accrue enough capital to continue operating through 2024.
By Grace Noto • Jan. 24, 2024
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