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Customers Bancorp boots CFO for ‘cause’
Carla Leibold was terminated Wednesday over a violation of company policy, a characterization she reportedly disputes. Philip Watkins was promoted to take her place, the company said.
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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.
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Scribd promotes CFO to CEO following expansion push
Scribd is tapping its former CFO for the role after moving to streamline its offerings, including breaking its document and book content into two distinct platforms.
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Cyberattacks pose biggest business threat, small companies say
Small businesses in professional services are more concerned about cyber risk than those in manufacturing or other services, the U.S. Chamber of Commerce said.
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Suspended ADM CFO’s pay ticked up in 2023 to $4.5M
The majority of Vikram Luthar’s pay package for last year came from $3.4 million in stock awards, according to Archer Daniels Midland’s proxy filing.
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Tech vendor Docyt adds voice feature to AI-driven accounting tool
Docyt is among the software vendors racing to capitalize on recent advancements in AI. Many of them are zeroing in on the corporate finance market.
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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.
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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.
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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.
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Inflation outruns forecasts, prompting market bets on fewer Fed rate cuts
Futures traders cut from 56% to 17% the odds that the Fed will conclude 2024 having trimmed the main rate by more than a half percentage point.
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KFC names new CFO amid push to boost sales
The finance leadership change comes as KFC struggles with dwindling traffic in a dicey economic environment.
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Interim CFO requests skyrocket 46%: BTG
Companies are turning to interim financial leadership more frequently as they struggle to fill widening gaps in their accounting and finance functions.
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Hiring will likely grow even as economy slows in Q2, Q3: Conference Board
Employment will likely remain strong as the supply and demand for labor gradually come into better balance, economists said.
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Nation-state actors drive up cyberthreats
Microsoft and Hewlett Packard Enterprise are among companies that have recently reported high-profile cyber intrusions attributed to nation-state actors.
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Capital One’s Discover bid tops biggest Q1 tech-related deals
The proposed Capital One-Discover merger made the list because of fintech issues that are at stake in the $35.3 billion deal.
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6 tips to tackle unpaid invoices as average DSO rises to 59 days
Monitoring and keeping DSO in check is key to preventing cash flow difficulties, Allianz Trade’s Ano Kuhanathan says.
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Companies fall short on curbing cybersecurity risks from vendors: Moody’s
Cyberrisks are mounting, with artificial intelligence likely to increase the threat of attack in the short to medium term, Moody’s said.
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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.