Financial Reporting: Page 8
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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 -
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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 -
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TrendlineTop 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 -
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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 -
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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 -
Courtesy of Orthofix
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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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Deploying AI in accounting poses 12 audit risks: CAQ study
CFOs see the value of generative artificial intelligence but may not fully grasp its audit risks, according to the Center for Audit Quality.
By Jim Tyson • April 5, 2024 -
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FASB to borrow from international rules for government grants
Many businesses and financial report preparers already rely on the IAS government grant accounting rules because GAAP is silent on the subject.
By Maura Webber Sadovi • April 5, 2024 -
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NY AG prods for missing email relating to ex-Trump CFO’s perjury plea
Allen Weisselberg’s testimony surrounding the triplex was central to the charges of perjury levied against the former CFO, who is set to begin a five-month jail sentence on April 10.
By Grace Noto • April 5, 2024 -
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IRS warns of ‘Dirty Dozen’ worst tax scams to avoid
The Internal Revenue Service is once again flagging the pandemic-era employee retention credit as a tax claim that it is closely watching.
By Maura Webber Sadovi • April 4, 2024 -
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OpinionHow speeding the path to CPA licensure hurts finance teams
A Minnesota bill offering an alternative route to CPA licensure threatens a secret weapon of accountants and the businesses they serve, the AICPA’s Marta Zaniewski writes.
By Marta Zaniewski • April 4, 2024 -
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Spotify names new CFO amid profitability push
The move follows efforts by the music streaming giant to turn the page on a history of financial struggles, including by raising prices and cutting staff.
By Alexei Alexis • April 4, 2024 -
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Intel appoints new CFO to troubled chipmaking unit
The appointment follows a $7 billion operating loss for Intel’s foundry unit as AI’s potential pushes up both interest and pricing in the semiconductor space.
By Grace Noto • April 3, 2024 -
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Allstate alum joins Farmers Insurance as CFO
Farmers is one of many insurers who stepped back from providing services to certain states in the face of increasing environmental risks in 2023.
By Grace Noto • April 2, 2024 -
Courtesy of Tupperware
Tupperware flags accounting strains in late 10-K notice
The late notice comes roughly five months after Tupperware said its former independent auditor PricewaterhouseCoopers declined to be re-appointed.
By Maura Webber Sadovi • April 1, 2024 -
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FASB fine-tunes proposed expense disclosure rule
The proposed accounting standards update is one of several initiatives that have been a priority for FASB under the general theme of disaggregation.
By Maura Webber Sadovi • March 29, 2024 -
Cara Salpini/CFO Dive
GameStop’s interim CFO gets permanent seat
The appointment comes after significant churn in the position and as the company looks to turn around slumping sales.
By Alexei Alexis • March 27, 2024 -
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Mock earnings helped prep for IPO, Cava CFO says
The restaurant chain’s blockbuster 2023 initial public offering was seen by some as a promising sign for the lackluster IPO market.
By Grace Noto • March 27, 2024
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