Risk Management
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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 -
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 -
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 -
US manufacturing persists in recession mode, production falls
Producers, responding to “election uncertainty” and monetary policy, held back on capital investment last month, the Institute for Supply Management said.
By Jim Tyson • Sept. 3, 2024 -
Deepfake scams escalate, hitting 53% of businesses
Eighty-five percent of corporate finance professionals now view such scams as an “existential” threat, a Medius study found.
By Alexei Alexis • Sept. 3, 2024 -
CISA launches cyber incident reporting portal to streamline breach disclosure
The secure portal is designed to encourage faster and more robust information sharing about malicious attacks and critical vulnerabilities.
By David Jones • Aug. 30, 2024 -
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 -
Only 58% of executives assessed business risks of AI: PwC
Rapid advances in AI outpace efforts to contain the risks from the technology, according to executives and officials.
By Jim Tyson • 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 -
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 -
Consumer confidence rises despite concern for weakening job market
A Conference Board report Tuesday highlighting improving consumer confidence aligns with a similar survey in early August by the University of Michigan.
By Jim Tyson • Aug. 27, 2024 -
Sponsored by BOK Financial
Payment fraud poses a significant threat to businesses
It’s not a matter of ‘if’ but ‘when’ your business will be hit with fraud or a cyberattack. BOK Financial provides five proactive tips for protecting your company from fraudsters trying to steal your information, data or your money.
Aug. 26, 2024 -
Powell says ‘time has come’ for rate cut, cites weakening labor market
The Fed chair did not indicate the size of a coming interest rate reduction, keeping alive a debate on how far policymakers will cut borrowing costs.
By Jim Tyson • Aug. 23, 2024 -
Prepping for the internal audit, CFO ‘inflection’ point
Internal auditors are joining the CFO as strategic business leaders, according to a Protiviti report.
By Grace Noto • Aug. 23, 2024 -
Jobless claims edge up, amplifying Fed signals for rate cut
Payrolls in the 12 months ending in March may have grown 818,000 less than previously reported, according to federal data.
By Jim Tyson • Aug. 22, 2024 -
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 -
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 -
AI spurs widespread ROI confidence: KPMG
Companies “are moving from experimenting with the technology to really starting to put expectations on it,” KPMG’s Per Edin said.
By Alexei Alexis • Aug. 20, 2024 -
Economic data no longer herald recession: Conference Board
Several data points during the past two weeks paint a sunny outlook for the economy, discouraging forecasts of a downturn.
By Jim Tyson • Aug. 19, 2024 -
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 -
To drive AI efficiency, CFOs must focus on its ‘fuel’: OneTrust
As the AI age dawns, CFOs need to be sure they’re focusing on what actually makes that technology tick — data, CFO Guido Torrini says.
By Grace Noto • Aug. 16, 2024 -
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 -
Opinion
How to push price and bust currency devaluation
Whether for increased revenue or profitability, corporate growth requires price increases — potentially as frequently as every six months, Adam Echter writes.
By Adam Echter • Aug. 15, 2024 -
Inflation slows to three-year low, clearing way for Fed rate cut
The central bank at a meeting next month will likely weigh cooling inflation against signs that the labor market is loosening up.
By Jim Tyson • Aug. 14, 2024 -
Producer price inflation slows, brightening outlook for Fed rate cut
The less-than-forecast gain in PPI last month bodes well for a decline in economy-wide price pressures in coming months.
By Jim Tyson • Aug. 13, 2024