The Latest

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  Envestnet taps Blackrock, Treasury alum for CFO

  Joshua Warren will take on the CFO seat as the company deals with continued headwinds in the wealth management sector.

  Financial reporting

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  Sponsored by SystemsAccountants

  Navigating the NetSuite ecosystem? A knowledgeable talent specialist is key

  Netsuite is not plug-and-play. It’s a gateway to an evolving ecosystem that requires sustained investment in talent.

  Technology

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  Shoe Carnival CFO exits after 5 months

  Patrick Edwards was named the company's new chief financial officer — the third person to serve in the role this year.

  Leadership

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  GTT self-reported accounting inaccuracies, earning penalty-free settlement with SEC

  The company kept investigators apprised of its efforts to resolve account discrepancies stemming from integration problems after it acquired several companies, the agency says.

  Treasury

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  Runaway cloud spending frustrates finance execs: Vertice

  Finance leaders are almost three times as likely to be concerned about cloud costs than their tech peers, and more than twice as likely to be worried about cloud visibility, a Vertice study found.

  Technology

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  Half of digital transformation investments fail: KPMG

  Success requires collaboration among key stakeholders, including the CFO, who can help ensure a “clear line of sight” toward achieving a return on investment, says KPMG’s Atif Zaim.

  Strategy & operations

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  Small businesses fear revenue hit from looming shutdown: Goldman

  Many executives at smaller companies are worried their firms will be hurt financially if lawmakers don’t reach a spending deal before Oct. 1.

  Risk management

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  Employers to slow gain in salary budgets to 3.9% in 2024

  The increase in inflation-adjusted wages has steadily declined since June along with many measures of overall price pressures.

  Strategy & operations

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  United promotes insider, JPMorgan alum to CFO

  In 2020 Michael Leskinen led a team that raised $6.8 billion in financing — providing the airline financial flexibility during the COVID-19 pandemic. 

  Leadership

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  Deep Dive

  Why EBITDA has such a strong hold on retail

  Is it the 'Wild West' of measures or a fair predictor of long-term success? Either way, retailers won’t quit talking about EBITDA.

  Financial reporting

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  Big Ten schools produce more CFOs, fewer CEOs than Ivies

  The University of Virginia, Pennsylvania State University and University of Texas at Austin top the list of public schools that have produced sitting CFOs.

  Leadership

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  Small business confidence hits post-pandemic high: U.S. Chamber

  The outlook among small businesses has brightened as economists upgrade forecasts for economic growth this year and in 2024.

  Strategy & operations

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  Ex-CFO sentenced for tax evasion, hiding offshore accounts

  The former CFO of a Russian natural gas company was also ordered to pay a $350,000 fine and more than $4 million in restitution to the U.S.

  Treasury

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  UAW strike: How auto supply chain managers can mitigate disruption

  Industry experts said to focus on supplier health, visibility and relationships to navigate any risks spurred by the union’s work stoppage.

  Strategy & operations

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  CFO optimism rebounds on brighter economic outlook: Deloitte

  CFO expectations for revenue, earnings and hiring have improved since the second quarter, Deloitte said.

  Strategy & operations

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  Treasurers turn to large banks to buffer risks

  While most treasury professionals focused on macroeconomic risks, some are taking steps within their organizations to control what they can.

  Treasury

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  Average insider cyberthreat cost spikes 40% in 4 years

  The outsmarting of insiders is a “go-to tactic” for many cyberattackers looking to steal credentials and gain access to critical data, according to research from the Ponemon Institute.

  Technology

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  Fed forgoes rate hike, signals another increase in 2023

  Policymakers have kept the main rate unchanged during two of their six meetings this year as price pressures gradually ease.

  Strategy & operations

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  FASB weighs software capitalization threshold

  For the first time in nearly 40 years the Financial Accounting Standards Board is working to update its guidance on software costs.

  Financial reporting

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  Disney Entertainment CFO heads to Warner Music

  Bryan Castellani’s exit from Disney follows significant turmoil at the company, including a massive layoff and senior leadership changes.

  Technology

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  High rates, fading consumption will stifle growth: Fannie Mae

  As the Fed sustains monetary tightening, the economy in coming months will likely slow — or shrink outright, economists said.

  Strategy & operations

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  BP promotes Thomson to interim CFO amid C-suite restacking

  The London-based oil company is moving to fill a leadership vacuum stemming from the abrupt resignation of CEO Bernard Looney last week. 

  Leadership

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  Opinion

  Forget FOBO: use AI or lose your FP&A job

  Financial, planning and analytics professionals need to adapt to AI — or risk being replaced by someone else who does embrace it, FP&Hey Co-founder Drew Murphy writes. 

  Technology

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  22 Republican AGs accuse net-zero alliance of antitrust violations

  The letter, led by Tennessee Attorney General Jonathan Skrmetti, alleges the Net Zero Financial Services Providers Alliance’s market influence could “deprive disfavored companies of economic opportunities.”

  Compliance

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  Clorox warns of product shortages a month after disclosing cyberattack

  The household product maker said the incident damaged IT systems and will have a material effect on its fiscal Q1 performance.

  Technology

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  Flawed data ranked as top AI risk: Workday

  While AI error risks can be reduced, many firms are unprepared as they “wrangle huge volumes of information across patchwork systems, static spreadsheets, and fragmented processes,” Workday says.

  Technology

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