Compliance


  • Team of consulting auditors auditing the financial report data of the company (balance sheet, income statement) on computer screen with business charts, fintech
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    NicoElNino
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    Internal auditors, CFOs should share the AI disruption risk: IIA CEO

    As AI further complicates a tricky risk environment, CFOs and internal auditors need to reach a strategic alignment, IIA’s Anthony Pugliese said.

    By Nov. 4, 2024
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    FASB issues new, long-anticipated income statement expense rules

    Compliance with the standards update “isn’t going to be cheap” for many firms, but the FASB has taken steps to reduce the cost to preparers, board member Fred Cannon said.

    By Nov. 4, 2024
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    Trendline

    Top 5 stories from CFO Dive

    The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.

    By CFO Dive staff
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    EY firings highlight multitasking, professional training woes

    The online training scandal comes about two years after the Securities and Exchange Commission fined EY $100 million for cheating by its auditors on ethics exams.

    By Oct. 31, 2024
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    $816M ExxonMobil verdict is latest as juries seek environmental justice

    No easing is in sight as companies face backlash for the impact their products have on the environment and public safety, a ruling shows. 

    By Jennifer Paley • Oct. 28, 2024
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    Most finance leaders believe sustainability targets out of reach: EY

    CFOs leading companies active in the U.S. and Europe face a “fluid picture” when attempting to meet regulations for sustainability reporting, EY said.

    By Oct. 23, 2024
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    AICPA asks IRS for fresh cannabis tax guidance

    The potential reclassification of marijuana as a Class III controlled substance has raised questions about tax benefits cannabis companies stand to gain.

    By Oct. 22, 2024
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    SEC settles charges with 4 firms it says downplayed SolarWinds hack exposure

    The agency alleged Unisys, Avaya, Check Point Software and Mimecast misled investors about the extent of their respective cyber risks.

    By David Jones • Oct. 22, 2024
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    Courtesy of FASB
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    FASB advances credit loss accounting relief for private firms

    The credit loss rules grew out of the financial crisis and the concern that banks were delaying recognizing deteriorating asset values. 

    By Oct. 22, 2024
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    Many middle market firms in ESG ‘wait and see’ mode, RSM says

    While 75% of mid-sized companies have begun preparing for new climate-related regulations, 84% of respondents said they are monitoring developments before taking further action.

    By Chris Gaetano • Oct. 21, 2024
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    EY, PwC voice cautious support for 120-credit hour CPA licensure

    The Big Four accounting firms are now all signalling varied degrees of support for a CPA licensure option that would require 30 fewer college credit hours.

    By Oct. 18, 2024
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    Courtesy of Raytheon Technologies
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    RTX to pay more than $950M in bribery, fraud settlement: DOJ

    The Securities and Exchange Commission alleged that last decade RTX, formerly known as Raytheon, used bogus subcontracts with a supplier to pay bribes of nearly $2 million.

    By Oct. 18, 2024
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    Most accountants see ethical challenges increasing: ACCA

    Two-out-of-five accountants said they most frequently face ethical challenges at work because of weaknesses in company leadership and culture, the ACCA said.

    By Oct. 15, 2024
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    Getty Images via Getty Images
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    Deloitte joins backers of 120-credit hours CPA licensure option

    KPMG and now Deloitte have endorsed a proposed change in CPA licensure requirements allowing candidates to replace a fifth year of schooling with work experience.

    By Oct. 14, 2024
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    Mario Tama via Getty Images
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    5 tips for businesses filing hurricane-related insurance claims

    With Hurricanes Helene and Milton estimated to have cost tens of billions of dollars in damage, it’s important for businesses to carefully document the impact when filing insurance claims.

    By Oct. 11, 2024
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    SEC sanctions Moog Inc. for alleged bribes, accounting flaws in India

    The SEC and Justice Department filed 21 enforcement actions last year alleging violations of the Foreign Corrupt Practices Act.

    By Oct. 11, 2024
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    AICPA moves to amend financial statement standard

    As companies are increasingly outsourcing accounting, the AICPA is looking to amend the standard for financial statements prepared by an external entity.

    By Oct. 8, 2024
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    Opinion

    4 ways tech can help CFOs navigate a tricky ESG landscape

    This year has marked the beginning of a groundswell of enhanced, regulated reporting on sustainability and climate data, writes Persefoni’s Emily Pierce.

    By Emily Pierce • Oct. 8, 2024
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    CFO compensation at recent IPO companies hits $1.2M average

    Setting executive compensation has become more complex for companies considering an IPO because of regulatory, legal and other factors, Alvarez & Marsal said.

    By Oct. 7, 2024
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    AICPA, NASBA draft new CPA rules for states to model

    The proposed update to the Uniform Accountancy Act is a key step toward opening a path to CPA licensure that requires fewer college credits.

    By Oct. 3, 2024
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    US corporate commitment to diversity in decline, McKinsey says

    “Progress is surprisingly fragile, especially for women of color, who continue to be underrepresented at every level” of the corporate hierarchy, McKinsey said.

    By Oct. 2, 2024
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    California governor vetoed SB 1047. What’s next for AI regulation?

    The contentious bill had garnered support from Hollywood and criticism from big tech. Gov. Gavin Newsom attributed his veto to the bill’s scope and broad language. 

    By Lindsey Wilkinson • Sept. 30, 2024
  • Six executives from green banks in localities across the country announce the creation of the Green Bank 50 coalition.
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    Climate Week NYC 2024 delivers carbon removal deals, green banking coalition

    The annual climate event launched with announced commitments to triple nuclear energy financing, decarbonization initiatives across the aviation sector and some carbon offset deals.

    By Lamar Johnson • Sept. 27, 2024
  • The U.S. Securities and Exchange Commission seal hangs on the facade of its building.
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    SEC charges 12 companies with flawed record-keeping, imposes $88M in fines

    SEC Chair Gary Gensler, during a congressional hearing Tuesday, came under fire from Republicans asserting that he should use regulation more than enforcement to correct company record-keeping.

    By Sept. 24, 2024
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    Data privacy concerns swirl around generative AI adoption

    IT and business professionals fear the technology's adoption can lead to data leakage, according to a Deloitte report.

    By Roberto Torres • Sept. 24, 2024
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    Harris, Trump contest raises the stakes on six salient policy points: EY

    “There are more similarities than many people realize between Harris and Trump on some key issues,” according to an EY political analyst.

    By Sept. 20, 2024