The Latest

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  Payments processor Tipalti investigating ransomware attack

  The Alphv ransomware group claimed responsibility for the attack on Saturday and threatened to extort Tipalti customers with allegedly stolen data.

  Technology

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  Sponsored by Mercer

  Defined benefit investing strategies have grown more complex. Here’s how.

  Moving away from defined benefit plans as the primary retirement program doesn’t require terminating the plan outright.

  Strategy & Operations

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  Tesla CFO sells shares as Musk draws new scrutiny

  A spotlight is on the EV maker as investors weigh recent controversial comments from CEO Elon Musk and a lukewarm launch of its Cybertruck product.

  Financial Reporting

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  PCAOB fines 2 PwC firms in China over test cheating

  The enforcements are among the first three stemming from access the U.S. auditing watchdog secured last year to inspect China-based auditing firms.

  Financial Reporting

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  Insurers hit with attorneys’ fees after trying to get out of indemnifying policyholders

  A New York Supreme Court ruling creates precedent in the way it makes the loser in an insurance matter pay its client.

  Compliance

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  Powell does not rule out Fed rate hike even while noting slower inflation

  The Fed chief suggested that borrowing costs will remain high for the foreseeable future despite recent signs that inflation, hiring and economic growth are slowing.

  Strategy & Operations

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  Deep Dive

  Retailers have a crime problem. It’s in the numbers.

  The issue is complex and often clouded by imprecise data — sometimes from the industry itself.

  Strategy & Operations

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  Ulta Beauty rides strong consumer spending, taps new financial leadership

  CFO Scott Settersten will retire after 11 years at the financial helm, with Ulta Beauty’s SVP of finance poised to take the seat as consumers continue to spend on smaller luxuries.

  Financial Reporting

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  FIS CFO eyes small acquisitions

  Fidelity National Information Services is on the hunt for smaller acquisitions in one of its divisions, and it’s benefitting from other companies’ deals in another.

  Leadership

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  Inflation, consumer spending cool, validating pause in Fed rate hikes

  Fed officials have recently noted progress in curbing price pressures but cautioned against expectations of sustained disinflation or an imminent cut to borrowing costs.

  Strategy & Operations

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  Accounting events for Q4 and 2024

  It’s time to consider registering for a range of upcoming accounting conferences — both in person and online. CFO Dive’s got a list to help sort through them. 

  Strategy & Operations

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  CFO, HR collaboration key to cutting health care costs

  To find a health care sweet spot, CFOs and HR leaders must “give a little each,” Imagine360’s Jeff Bak said.

  Leadership

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  Claire’s taps Bath & Body Works vet for CFO-COO role

  The appointment comes as the retailer is weighing the best time to go public, after withdrawing an IPO earlier this year.

  Leadership

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  For GenAI-backed accounting, CFOs can’t ‘learn as you go’

  CFOs need to develop a business-wide plan for GenAI’s use, create clear data practices and ensure accountability to incorporate the technology into accounting effectively.   

  Compliance

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  MGM CFO expects insurance to cover cyberattack costs

  The Las Vegas-based casino and resort operator has pegged the costs of the September cyberattack that temporarily crippled operations at about $100 million.

  Strategy & Operations

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  Health care benefit costs surge 9.8%: WTW

  High inflation and strains from COVID-19 prolonged a trend of rising medical care costs.

  Strategy & Operations

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  AMC Networks expects ‘no material impact’ from Hollywood strikes

  Despite now-resolved labor strikes that brought Hollywood to a standstill, AMC Networks is “set up well going into 2024,” CFO Patrick O’Connell said.

  Financial Reporting

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  Ralph Lauren veteran takes CFO job at Vince

  John Szczepanski takes on a role that has had significant turnover in recent months, as the struggling brand embarks on a turnaround.

  Leadership

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  FASB’s new segment guidance will go swiftly into effect

  Public companies will be required to comply with the new accounting requirements in reports for annual periods beginning after Dec. 15.

  Financial Reporting

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  Consumer confidence rises after a three-month decline: Conference Board

  The gain in consumer confidence preceded a surge in online spending on Black Friday.

  Strategy & Operations

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  Driving the GenAI journey: Teradata CFO

  CFOs must take point on plotting a company’s AI course, navigating compliance and governance, and finding key talent and use cases, Teradata’s CFO Claire Bramley said.  

  Technology

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  AI developers, led by OpenAI, raise over $50B

  ChatGPT maker OpenAI currently leads the pack with $11.3 billion in funding, as the tech sector’s rising star also faces a host of challenges.

  Strategy & Operations

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  Employers willing to pay ‘premium’ for AI-skilled workers: AWS study

  Nearly three out of four employers (75%) who view the hiring of talent with AI skills as a priority reported having difficulty finding qualified candidates.

  Technology

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  Pagaya CFO exits, deputy steps up

  Michael Kurlander, who brought decades of Wall Street experience to Pagaya, is leaving the technology firm after just over two years in the CFO seat. 

  Leadership

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  4 CFO tips for spurring growth through innovation: McKinsey

  More than eight out of 10 CEOs believe innovation is key to outperformance, but only 6% are satisfied with their companies’ track record in creativity, McKinsey said.

  Strategy & Operations

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  Creating a ‘poachable’ talent culture: TAB Bank CFO

  Making one’s own employees competitive to other organizations can help to foster a strong, loyal talent base, TAB Bank CFO Boyd Hunter says.

  Strategy & Operations

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