Financial Reporting
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Joe Raedle via Getty Images
Peloton cuts jobs, searches for new CEO amid financial turmoil
“We made some very tough decisions, and while we firmly believe these actions are the right thing to do for the business, cuts like this are painful,” CFO Liz Coddington said.
By Alexei Alexis • May 2, 2024 -
Courtesy of AWS
Amazon clinching bigger, longer cloud deals after AI boost: CFO
Amazon is the latest tech giant whose hefty AI spending has been rewarded by Wall Street in the current earnings season. Meta has been an exception.
By Alexei Alexis • May 1, 2024 -
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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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Deep DiveModern finance team makeovers: Chief accounting officers
CFOs and CAOs have developed a “symbiotic relationship” as the finance function morphs into a driver of business strategy.
By Grace Noto • April 30, 2024 -
Kelly Sullivan via Getty Images
Meta falls in AI reckoning as Microsoft, Google soar
Investors rewarded AI spending strategies at Microsoft and Google but rebuffed Meta, whose stock plummeted.
By Alexei Alexis • April 30, 2024 -
NicoElNino
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 -
Courtesy of Cannabis plants
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 -
Courtesy of Chemours
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 -
Michael Loccisano/FilmMagic via Getty Images
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 -
CFO Editorial Staff
OpinionProposed 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 -
Hollie Adams via Getty Images
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 -
Leon Neal via Getty Images
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 -
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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 -
Courtesy of ADM
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 -
Justin Sullivan via Getty Images
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 -
Bo Shen via Getty Images
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 -
Courtesy of Mobico Group
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 -
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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 -
SweetBunFactory via Getty Images
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 -
Getty Images via Getty Images
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 -
Alex Wong via Getty Images
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 -
Sean Pavone via Getty Images
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 -
Jerome Maurice via Getty Images
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 -
Brandon Bell via Getty Images
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 -
Jack Taylor via Getty Images
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
