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.

Cannabis firm Ascend terminates CFO, CEO amid refinancing push

Ascend is the third large cannabis company to see its CEO out the door this month.

Bitcoin miner TeraWulf CFO targets AI-driven data centers

The Maryland-based bitcoin miner is pivoting to tap its power infrastructure to serve high-performance data centers that companies need to run AI systems.

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.

CFOs edge out, merge with COOs

The CFO’s role has blended with that of a chief operating officer’s typical responsibilities, Trintech CEO Darren Heffernan said.

Apple taps insider to succeed longtime CFO Luca Maestri

The Cupertino, California-based tech giant said Kevan Parekh — its VP of financial planning and analysis — would become CFO as part of a “planned succession.”

Updated Aug. 27, 2024

What’s keeping businesses from a paperless future?

Printers are still alive and well across finance, healthcare and legal services, industries that rely heavily on hard copies thanks to legal requirements and customer expectations.

Don’t over-budget for digital transformation in 2025

Every transformation should include a robust and detailed business case with defensible and realistic numbers, writes ISG’s Jon Lightman.  

External CFO hires hit 10-year high

The uptick in companies looking outside their ranks for finance chiefs suggests a lack of succession planning, Crist Kolder's Josh Crist said.

Trump Media CFO sells $1.9M in company stock

The sale comes as a six-month ban preventing former President Donald Trump from selling his own stock in the beleaguered company inches to an end.

EWA providers crusade against CFPB rule proposal

Earned wage access providers that backed state laws friendly to the industry are preparing for a fight over the Consumer Financial Protection Bureau’s plan to treat such payments like loans.

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.

Prepping for the internal audit, CFO ‘inflection’ point

Internal auditors are joining the CFO as strategic business leaders, according to a Protiviti report.  

Office market approaches ‘peak downsizing’ precipice: CBRE

For the first time since the pandemic, corporate real estate executives’ sentiment has shifted slightly in favor of portfolio expansion, according to a CBRE report.  

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.

Target CFO says GenAI tool is boosting worker efficiency

The chatbot, which helps Target’s team members resolve on-the-job challenges, is making it easier and faster to assist customers, CFO Michael Fiddelke said. 

Longtime Zoom Video CFO to step down

Kelly Steckelberg is leaving the video conferencing platform after seven years as CFO.

US M&A deal value jumped to $124B in July

A total of 141 U.S. deals were recorded last month, a 33% increase compared with June, according to EY data.

Marqeta CFO eyes fintech ‘winners’ following mixed earnings

With the fintech sector maturing, the card issuing platform is turning its attention to capitalizing on rising opportunities in the space, CFO Mike Milotich said.

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.

FTC exceeded its authority with noncompete ban, judge says

The agency’s rulemaking under Sec 6(g) of the FTC Act is procedural, not substantive, Judge Ada Brown of Texas federal court says, blocking a nationwide rule that would have taken effect shortly.

US Bank doubles down on AR with Billtrust

The Minneapolis-based bank’s new offering seeks to accelerate the accounts receivable process  —  sometimes viewed as a laggard in the race to automate finance.

Dentsply initiates CFO search following layoffs, restructuring

Glenn Coleman is leaving as the dental supply company struggles to regain its footing after a 2022 accounting probe uncovered ethical violations by ex-CFO Jorge Gomez.

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.

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.