IRS misses deadline for upgrading business transcript system

The IRS has faltered as it shifts business tax transcript requests from a paper to an online system, according to the agency’s inspector general.

By Jim Tyson • March 20, 2023

Defunct Katerra sues former CFO for bonus

The failed Softbank-backed startup is alleging its former CFO is obligated to pay back his signing and relocation bonuses amid intensifying scrutiny of executive compensation.

By Grace Noto • March 20, 2023

With tech’s favorite banks in turmoil, some are choosing loyalty

After several high-profile bank failures and near-failures, some fintechs don’t see jumping ship as an option.

By Gabrielle Saulsbery • March 20, 2023

Bipartisan Senate bill would bolster SEC whistleblower safeguards

The SEC’s program for gathering tips on securities law violations has imposed $6.3 billion in sanctions since its creation.

By Jim Tyson • March 17, 2023

KPMG’s 29-year SVB stint stirs independence debate

The bank’s failure — two weeks after it effectively got a clean bill of financial health — is reigniting some concerns that cozy client-auditor ties may jeopardize audit rigor.

By Maura Webber Sadovi • March 16, 2023

FASB kicks off comment period on income-tax updates

While previous FASB efforts to update accounting standards for taxes have fizzled, Chair Richard Jones has said tweaks to the project’s scope have made it achievable.

By Maura Webber Sadovi • March 15, 2023

SEC fines IT firm DXC $8M for ‘misleading’ disclosures

DXC lacked adequate controls for the review, approval and classification of costs, according to the SEC.

By Jim Tyson • March 15, 2023

Signature Bank CFO among those named in investor lawsuit

A proposed class-action complaint claims the bank and its leaders misled investors about Signature Bank’s financial standing.

By Lyle Moran • March 14, 2023

Silicon Valley Bank investors sue collapsed firm’s CEO, CFO

The proposed class action alleges the failed bank, CEO Greg Becker and CFO Daniel Beck concealed from investors the impact that high interest rates would have on the tech-focused firm’s business. 

By Anna Hrushka • March 14, 2023

SVB exposure: FAQs

In the wake of Silicon Valley Bank’s weekend implosion, CFOs are left scrambling to figure out the fate of deposits, payments and loans, as well as how exposure to the bank could impact their business.

By Grace Noto • March 13, 2023

Most companies lack technology needed for SEC climate rule: survey

Global standard-setters face pushback from companies ill-equipped for complying with climate risk disclosure rules.

By Jim Tyson • March 10, 2023

Powell testimony fuels expectations of half-point Fed rate hike

Fed Chair Jerome Powell told a House committee Wednesday that the central bank is concerned about persistent price pressures and is determined to reduce inflation to its 2% target.

By Jim Tyson • March 8, 2023

Bank, finance leaders brace for rate volatility

The majority of leaders at financial institutions say interest rates will drive business model guidance this year but few are leveraging financial data to support these changes.

By Elizabeth Flood • March 7, 2023

ESG reporting muddled by jumble of standards: IFAC

The SEC plans before May to release a final climate risk disclosure rule aimed at achieving uniform corporate reporting and combating “greenwashing.”

By Jim Tyson • March 6, 2023

CFO takeaways from Biden cyber plan

The Biden administration’s new 35-page report, released last week, calls for increased regulation and warns that some U.S. companies are not doing enough to respond to escalating cyber threats.

By Alexei Alexis • March 6, 2023

Pay plan rejections hit record high

Last year the rejections of Russell 3000 Index companies’ pay packages hit the highest annual level since the non-binding say-on-pay votes became mandatory in 2011.

By Maura Webber Sadovi • March 3, 2023

FASB studies AI use in financial data analysis

The surge in use of conversational artificial intelligence has prompted scrutiny of the technology’s role in financial decisions.

By Jim Tyson • March 3, 2023

IRS Commissioner-nominee pledges to uncover corporate taxes owed

Billions of dollars in new funding for the IRS will not go toward increasing the audit rate for businesses and taxpayers that make less than $400,000 per year, Daniel Werfel said.

By Jim Tyson • March 1, 2023

Dismantling the first 100 days myth

 For newly minted finance chiefs, their first few months on the job need to look a little different than what they may think.

By Elizabeth Flood • Feb. 28, 2023

Merger filing fee hikes go into effect

The influx of new revenue for the FTC and DOJ could mean increased scrutiny of merger transactions but is unlikely to deter dealmaking, according to antitrust lawyers.

By Alexei Alexis • Feb. 27, 2023

Standard-setters consider softer start to climate risk disclosure

A backlash against proposals to require detailed corporate reporting on climate risk may compel more gradual application of the rules.

By Jim Tyson • Feb. 24, 2023

Mix of tech, vigilance helps thwart financial crimes

Financial crime spans corporate across the board, and it is sound business practice to have something in place that says, ‘do we really know how money flows in and out,’ says Leslie Bailey.

By Elizabeth Flood • Feb. 23, 2023

Large companies hide behind net zero ‘fig leaf’: report

Many of the world’s biggest companies are exaggerating their efforts to reduce carbon emissions, according to the Corporate Climate Responsibility Monitor.

By Jim Tyson • Feb. 21, 2023

A one-way ticket to ServiceNow’s CFO seat

From heartbreak to the financial helm, Gina Mastantuono has had her fair share of pivotal challenges on her way to the top.

By Elizabeth Flood • Feb. 16, 2023

FASB votes to finalize lease accounting relief

The proposed changes to lease accounting guidance are relatively narrow, but they are one of a number of standard updates that FASB has in the works.  

By Maura Webber Sadovi • Feb. 15, 2023