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As Zillow alum takes the financial helm, Varo Bank sets sights on profitability
Varo’s Allen Parker is focused on “ensuring finance can play a role in how we prioritize our investments” which will be critical to achieving profitability, he said.
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RBC fires CFO, treasury exec over undisclosed relationship
Nadine Ahn had been seen as a potential future CEO candidate, sources told The Globe and Mail. RBC named Katherine Gibson its interim CFO while it searches for a successor.
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Deploying AI in accounting poses 12 audit risks: CAQ study
CFOs see the value of generative artificial intelligence but may not fully grasp its audit risks, according to the Center for Audit Quality.
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FASB to borrow from international rules for government grants
Many businesses and financial report preparers already rely on the IAS government grant accounting rules because GAAP is silent on the subject.
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NY AG prods for missing email relating to ex-Trump CFO’s perjury plea
Allen Weisselberg’s testimony surrounding the triplex was central to the charges of perjury levied against the former CFO, who is set to begin a five-month jail sentence on April 10.
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IRS warns of ‘Dirty Dozen’ worst tax scams to avoid
The Internal Revenue Service is once again flagging the pandemic-era employee retention credit as a tax claim that it is closely watching.
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Spotify names new CFO amid profitability push
The move follows efforts by the music streaming giant to turn the page on a history of financial struggles, including by raising prices and cutting staff.
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Opinion
How speeding the path to CPA licensure hurts finance teams
A Minnesota bill offering an alternative route to CPA licensure threatens a secret weapon of accountants and the businesses they serve, the AICPA’s Marta Zaniewski writes.
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Deep Dive
Cars are king of the commute. But employers may have a once-in-a-generation chance to change that.
A perhaps overlooked element of the return-to-office conversation: How employees get to work in the first place.
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Powell calls recent inflation, job data high but not game changers for Fed
The central bank must balance the risks of easing monetary policy too early or too late, Powell said.
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Commercial Chapter 11s jump 43% even as distress outlook eases
Bankruptcy filings have risen for 20 months. The pace wasn’t sustainable in today's strong economy, American Bankruptcy Institute’s Chris Ward says.
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Global M&A rises above ongoing headwinds
The findings show “some light at the end of the tunnel” after a challenging year for M&A globally in 2023, according to Willis Towers Watson’s David Dean.
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Intel appoints new CFO to troubled chipmaking unit
The appointment follows a $7 billion operating loss for Intel’s foundry unit as AI’s potential pushes up both interest and pricing in the semiconductor space.
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5 tips from CFOs on how to win the CFO seat: McKinsey
Executives aiming to rise to the CFO seat have faced a bright landscape in recent years, with turnover unusually high.
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Jacobs CFO steps down after 8 months on the job
The Dallas-based company brought back former CFO Kevin Berryman on an interim basis, as Claudia Jaramillo leaves to pursue other opportunities.
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Return-to-office delays burden regional bank real estate portfolios
“There's been a Frankenstein from the pandemic that's been created, and we don't know how to stop it,” TD Bank’s Gregory Carlisle said last week.
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Allstate alum joins Farmers Insurance as CFO
Farmers is one of many insurers who stepped back from providing services to certain states in the face of increasing environmental risks in 2023.
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Old National puts CFO on leave after child molestation charges
The Evansville, Indiana-based bank named its chief strategy officer as interim CFO on Monday after Brendon Falconer was arrested last week.
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AT&T hit with proposed class action suit over massive data breach
The breach was a “direct result” of AT&T’s failure to implement adequate cybersecurity procedures, the suit alleges.
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Opinion
Fixing the broken state of SaaS purchasing
A “growth-at-all-costs” mentality has led some SaaS companies to overpromise results and obscure pricing details, writes Olive Technologies CEO Chris Heard.
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Microsoft decouples Teams from 365 globally
The move comes eight months after the software giant unbundled the two solutions in the European Economic Area and Switzerland to quell regulatory concerns.
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Tupperware flags accounting strains in late 10-K notice
The late notice comes roughly five months after Tupperware said its former independent auditor PricewaterhouseCoopers declined to be re-appointed.
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IPO market strengthens as economy defies recession forecasts: EY
Investor enthusiasm for artificial intelligence may spur companies to go public in coming months, EY said.
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Ex-construction CFO pleads guilty to wire fraud stemming from $890K embezzlement scheme
The former CFO is required to pay restitution of $890,000 in addition to other penalties and may also face time in prison.
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Inflation ‘bursts’ may exceed Fed’s 2% target due to public debt: Brookings
Policymakers face several inflationary forces, including rising spending on defense and aging populations, economists said in a Brookings paper.