Compliance
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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.
By Grace Noto • Nov. 29, 2023 -
With ex-controller back on the stand, Trump defense looks to muddy accounting waters
The ex-controller pointed to long-time independent accountants Mazars USA as responsible for preparing the Trump Organization's financial statements.
By Grace Noto • Nov. 21, 2023 -
Explore the Trendline➔
FotoliaTrendlineFinancial reporting enters a new age
Finance leaders are increasingly relying on metrics including churn, net promoter score and customer growth to reveal company performance in a way traditional GAAP measures cannot.
By CFO Dive staff -
FASB appointment extends women’s historic majority
The latest appointment follows Joyce Joseph joining the FASB in July, which marked the first time women have outnumbered men on the standards setter’s board.
By Maura Webber Sadovi • Nov. 17, 2023 -
FASB targets new cash flow statement rules for banks
The latest new accounting requirements under development will, at least initially, only apply to financial institutions.
By Maura Webber Sadovi • Nov. 13, 2023 -
‘I had my buckets’: Trump Jr. further downplays financial role
The Trump Organization’s ex-CFO and his responsibilities remained a question at the heart of the trial as Donald Trump Jr. waxed poetic about the Trump Organization’s history and properties.
By Grace Noto • Nov. 13, 2023 -
GAAP: the silent player in Trump civil fraud trial
Accounting standards and financial statements play key roles in the $250 million civil fraud case against former President Trump.
By Maura Webber Sadovi • Nov. 10, 2023 -
PCAOB chief chides auditors for blaming failures on talent shortage
The quality of audits has trended “in the wrong direction for the second year in a row,” PCAOB Chair Erica Williams said.
By Jim Tyson • Nov. 8, 2023 -
Emails tie Ivanka Trump to lenders, ex-CFO. She doesn’t recall much of it.
Appearing a week after her two brothers, the former president’s daughter took her turn on the stand testifying in the $250 million civil fraud trial.
By Maura Webber Sadovi • Nov. 8, 2023 -
IRS ERC freeze rattles some business filers. There’s a bright side.
IRS Commissioner Danny Werfel ordered the moratorium on ERC claim processing following concerns about filers being scammed by aggressive claim promoters.
By Maura Webber Sadovi • Nov. 7, 2023 -
Combative Trump is lukewarm on ex-CFO’s financial reports
Testifying in the $250 million civil fraud case against him, ex-President Trump pinned the main responsibility for his financial reports on his senior executives and outside accountants.
By Maura Webber Sadovi • Nov. 6, 2023 -
RBC settles software accounting violation charges with regulators
The Royal Bank of Canada’s $6 million SEC penalty comes as FASB is updating U.S. guidance for tracking software costs for the first time in decades.
By Maura Webber Sadovi • Nov. 3, 2023 -
Former FTX CEO found guilty of fraud
Nearly a year after the collapse of his $40 billion cryptocurrency exchange, former FTX CEO Sam Bankman-Fried was found guilty Thursday on seven federal counts.
By Gabrielle Saulsbery • Nov. 2, 2023 -
SolarWinds CFO avoids charges in SEC action
A cybersecurity suit filed by the SEC names the company’s chief information security officer as a defendant but not its CFO, although the agency previously put both executives on notice.
By Alexei Alexis • Nov. 1, 2023 -
Gensler says SEC aims to avoid overreach on climate risk rule
The SEC chief has come under fire for proposing that companies release data on the greenhouse gas emissions by their suppliers and customers.
By Jim Tyson • Oct. 26, 2023 -
Basel publishes crypto exposure proposal
Banks will have to disclose crypto exposure by 2025 under plans unveiled Tuesday. The plans are open for public comment through Jan. 31.
By Gabrielle Saulsbery • Oct. 17, 2023 -
Ex-Trump CFO lied under oath, Forbes says
The ex-finance chief perjured himself while testifying in the state of New York’s $250 million civil-fraud case against his former boss, Forbes alleged.
By Alexei Alexis • Oct. 13, 2023 -
PCAOB says 42% of auditors botched quality reviews
Since early 2022 the PCAOB has tightened standards, stepped up enforcement and intensified inspections of auditing firms.
By Jim Tyson • Oct. 13, 2023 -
SEC cyber rules send execs scrambling as deadlines near
Companies face the thorny challenge of determining what constitutes a “material” cyber breach for reporting purposes.
By Alexei Alexis • Oct. 10, 2023 -
JPMorgan, Citi critique FASB’s credit losses fix
The CECL standard was originally aimed at encouraging timelier reporting of deteriorated asset values.
By Maura Webber Sadovi • Oct. 5, 2023 -
Why CFOs must steer benefits audits to avoid fines, penalties
Total monetary recoveries arising from ERISA enforcement actions exceeded $1.4 billion in fiscal 2022.
By Suman Bhattacharyya • Oct. 4, 2023 -
Senate bill would let SMBs use SBA loans to cover fintech fees
The Financial Technology Association is backing a bill that would clarify that loans made through the Small Business Administration’s flagship lending program can be used to pay for fintech services.
By Anna Hrushka • Oct. 4, 2023 -
FASB revisits GAAP cleanup
The board may remove some "non-authoritative" definitions from the codification — effectively the bible of generally accepted accounting standards.
By Maura Webber Sadovi • Oct. 3, 2023 -
SEC fines Newell Brands $12.5M for misleading investors
Newell veiled sub-par sales using various accounting changes and disregarded warnings from its audit committee and auditor, the SEC said.
By Jim Tyson • Oct. 3, 2023 -
PCAOB fines Deloitte affiliate $900,000
Sanctions by the PCAOB against Deloitte’s affiliate in Colombia reflect tougher oversight by the U.S. audit watchdog under the Biden administration.
By Jim Tyson • Sept. 28, 2023 -
Gensler warns federal shutdown would freeze IPOs, SEC enforcement
Democratic lawmakers predicted a partial government closure would harm the competitiveness of U.S. capital markets.
By Jim Tyson • Sept. 27, 2023