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➔

Financial 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