The Latest
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HeadSpin founder Lachwani sentenced to 18 months in prison for fraud
The former CEO of HeadSpin — ordered to pay a $1 million fine — faces a July hearing focused on compensating bilked investors.
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Microsoft raises business application suite prices as Copilot permeates Dynamics 365
The tech giant updated terms on its CRM and ERP solutions for the first time in more than five years.
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Courtesy of Mobico Group
Mobico CFO steps down following delayed financial results
The public transport company appointed an interim CFO after reporting a 36% drop in profit, impacted by inflationary pressures and labor shortages in key markets.
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CFOs forecast stronger economy amid stubborn inflation: ACCA, IMA survey
Top financial executives across North America ranked inflation as their top “risk priority,” ACCA and IMA found in a survey.
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Jabil CFO steps up as CEO is placed on paid leave
The manufacturer’s CFO is stepping into the interim CEO seat after Jabil struggled with “revenue headwinds” amid an ongoing restructuring and cost realignment plan.
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Controllers hunt for workarounds to ‘continuous’ reporting, accountant shortage
As leaders of their firms’ accounting operations, many controllers are outsourcing work and using AI to speed accounts payable and receivable tasks.
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CEOs, CFOs can’t get non-prosecution agreement under DOJ pilot
Criteria released by the Department of Justice April 15 lets corporate executives know if they stand a good chance of avoiding charges for coming forward with misconduct allegations.
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NSA sounds alarm on AI’s cybersecurity risks
Malicious actors on the hunt for sensitive data or intellectual property may be attracted to attack vectors unique to artificial intelligence, the NSA warned.
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Google to restructure finance team ahead of AI push: Reports
The restructuring is the latest round of layoffs by Alphabet as the company looks to funnel more than $100 billion into AI projects.
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Accounts receivable automator Versapay taps new CFO
Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.
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Courtesy of Orthofix
Orthofix replaces fired CLO, grapples with internal control ‘material weakness’
The new chief legal officer is joining the company as it faces a fresh set of headwinds related to its internal control over financial reports.
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Werfel sees IRS budget request yielding $341B in extra revenue
The IRS chief testified to a Senate committee after Republican lawmakers secured a $20-billion cut to the agency’s budget.
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Cyber insurance gaps stick firms with millions in uncovered losses
An analysis of 101 breaches across various sectors revealed insurance gaps resulting in an average of $27.3 million in uncovered losses per incident.
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CFOs worry over rising operations cost: Grant Thornton
Finance chiefs are banking on GenAI to offset cost pressures in the face of persistent inflation, with 71% of CFOs still expecting a jump in net profit.
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Powell: Inflation data deny Fed ‘greater confidence’ needed to cut rates
The Fed chair is just one of many policymakers who, in the face of persistent price pressures, has voiced no urgency in reducing borrowing costs.
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Biden tax negotiator rejoins KPMG as election weighs on Pillar 2 prospects
Although the U.S. has yet to sign on, the OECD’s new Pillar Two tax rules already apply in more than 30 countries, Michael Plowgian said.
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70% of CEOs feel ready to deliver on responsible GenAI
The intense focus on safe and ethical GenAI use comes as the technology’s rapid rise is prompting scrutiny from governments around the world.
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OpinionThe CFO’s role in curbing third-party cybersecurity risk
With vendor-related cyber risks spiking rapidly, the stakes are too high for CFOs to treat the issue as merely an IT concern, writes cybersecurity consultant AJ Yawn.
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ChatGPT grabs the shadow IT crown: report
Generative AI tools emerged as the latest villain in the enterprise battle to curb SaaS bloat and rationalize software portfolios, Productiv analysis found.
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How AI speeds ‘hugely time-consuming’ pricing, quote tasks
Artificial intelligence could cut anywhere from 30% to 70% of the time businesses spend on the quote process, according to Lydia DiLiello, CEO of Capital Pricing Consultants.
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Retail sales surge as economy enters Q2 spurred by spend-happy consumers
After the release of the retail sales data, the Federal Reserve Bank of Atlanta upgraded its estimate for the annualized rate in first quarter GDP growth to 2.8% from 2.4%.
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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.
