The Latest
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Finance staff digital skills outstrip leadership: study
As AI and automation continue to advance, the digital skills of finance staffs are outstripping those of senior executives — leading to challenges managing and engaging skilled talent.
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Business spending outlook ‘deteriorated’: Fed CFO survey
CFOs were planning to reduce expenditures before turmoil in the banking system threatened to provoke a credit tightening.
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FASB maps ‘one-stop shop’ expense disclosure proposal
The proposed expense disclosures could be costly for companies. The FASB has been considering the more stringent standards for at least two decades.
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Ex-CFO convicted of tax evasion, hiding offshore accounts
The ex-CFO of a Russian natural gas company was found guilty of concealing his ownership of more than $93 million in offshore assets and failing to file and pay income taxes for several years.
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Alibaba to split into six groups, chases IPOs
The Chinese e-commerce giant will split into six separate groups in a move that follows declining tech valuations and a regulatory crackdown on the country’s tech sector.
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CFO churn persists with FleetCor, Corcentric
Payments companies FleetCor and Corcentric are the latest to name new CFOs as churn in the industry continues.
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PCAOB proposes updated standards, faster audit filing
The audit watchdog aims to update and unify interim standards created 20 years ago, aligning its rules with new independence requirements and advances in technology.
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Courtesy of Nikola
Embattled EV maker Nikola promotes insider to CFO
The EV maker’s CFO is stepping down following managerial turmoil in recent years.
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Finance leaders tap tech for efficiency boost: study
Automating routine finance processes can help CFOs add more efficiency while freeing up focus for new projects.
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Q&ABank failures could cause SMB credit crunch
“The current banking crisis could directly lead to a small business crisis if they are not able to quickly access the capital they need to sustain and expand their operations,” Biz2Credit’s CEO said.
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Experts warn against ransomware complacency
Despite reports of fewer ransomware-related cyber insurance claims and decelerating premiums in 2022, experts say the threat is still serious and evolving.
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Datarails aims for ‘grounded’ ChatGPT-like FP&A tool
The tech company’s goal is to provide CFOs with a tool in the style of the popular ChatGPT service, but without some of the same accuracy and data privacy challenges.
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FTC opens inquiry into cloud market competition, security
As consolidation among so-called hyperscalers such as AWS, Google Cloud and Microsoft Azure grows, federal authorities are raising concerns over cloud dependence in critical sectors.
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CIOs grapple with the fallout from rush to cloud: uncontrolled costs
Executives are coming to grips with the result of decentralized decisions, and leaning on FinOps to curb usage and spend, according to KPMG’s Will DeMille.
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FASB issues lease standards update
The changes to lease accounting standards (Topic 842) provide narrowly targeted relief for some companies grappling with the guidance from 2016.
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Talent shortage frustrates internal auditors
As AI swiftly extends the finance function’s potential for efficiency, audit leaders are concerned about the lack of skilled workers to support new advancements.
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Banking turmoil may trigger recession: Fannie Mae
Small- and mid-size banks will likely tighten credit in the coming months, increasing the odds of a downturn this year, economists said.
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Hertz CAO takes interim CFO seat
Hertz’s CAO will assume interim financial leadership as the company looks to take advantage of recovering travel and boost its technology investments.
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Climate change shareholder proposals trending toward record
Debate has flared in recent months over whether businesses and institutional investors should use ESG criteria when making decisions.
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Courtesy of Ally Financial
Ally Financial taps Goldman vet for CFO seat
Ally’s current finance chief, who has been serving on an interim basis since October, will return to his full-time role as corporate treasurer once the newly-appointed CFO arrives in July, the company said.
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CFOs key to shaping digitization efforts: study
With technology teams overloaded, the discerning CFO’s hand is crucial to shaping company digitization efforts.
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Luckin Coffee’s ‘revenue reckoning’ takeaways
The Beijing-based company was initially viewed as a kind of David poised on its home turf to take on the Goliath of the coffee world — Starbucks — in China.
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Diversity of thought sharpens finance strategies, TS Imagine CFO says
Women need to be the ‘yardstick for excellence’ and advocate for themselves as they look to take leadership positions, TS Imagine CFO Kate Peachway says.
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Hindsight 2020: An unlikely road to Snowflake’s CFO seat
From a travel excursion to Italy to uncovering massive fraud, Mike Scarpelli had his fair share of challenges on his way to the CFO seat.
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ESG poised to gain traction as CFO priority: Gartner
Many organizations are shifting away from a purely “risk management” approach to ESG and are viewing it as a way to attract customers, investors and talent — a trend that will only increase in coming years, according to Gartner.
