Compliance: Page 3

How CFOs can structure an ESG-friendly tax strategy

ESG's tax implications is “a topic where there’s a two-way street,” said Kevin M. Jacobs, a managing director at Alvarez & Marsal Taxand. 

By Maura Webber Sadovi • March 3, 2022

CFOs should prepare for stronger ESG shareholder pressure: EY

CFOs and directors need to prepare for the 2022 proxy season as institutional investors turn up the heat on efforts to ensure companies embrace sustainable business practices.

By Jim Tyson • March 1, 2022

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Mastering revenue recognition

Improper revenue recognition is companies' No. 1 reporting violation, according to the SEC, underscoring the importance of sound compliance practices.    

By CFO Dive staff

Boards face more challenging 2022 proxy season on ESG

Company leadership should enter the proxy season ready to handle numerous shareholder proposals on sustainability and such political activities as lobbying and campaign contributions, the Conference Board said.

By Jim Tyson • Feb. 25, 2022

SEC to take hard stand against corporate 'greenwashing'

The SEC soon plans to propose rules for sustainability disclosure that will feature detailed guidelines for reporting on greenhouse gas emissions, according to SEC Commissioner Allison Herren Lee.

By Jim Tyson • Feb. 24, 2022

Former ass't treasurer gamed company's FX transactions, SEC says

Health products manufacturer Baxter International acted quickly to stop the practice but was cited for not catching it sooner because of inadequate controls.

By Robert Freedman • Feb. 24, 2022

15% minimum global tax would harm US business: Senate Republicans

The global tax package now before the Senate may expose U.S. companies to a “top-up tax” and other levies not acknowledged by the Biden administration, Republican senators said.

By Jim Tyson • Feb. 22, 2022

Revenue recognition still gets companies in most SEC trouble

The Securities and Exchange Commission’s data-mining EPS initiative made only one catch last year, a Cornerstone Research analysis shows.

By Robert Freedman • Feb. 22, 2022

Investors warned against taking 'lottery ticket' approach to SPACs

Some SPACs with conflicting interests harm investors by bringing weak companies to the IPO market, the CFA Institute said.

By Jim Tyson • Feb. 18, 2022

Ransomware attacks, extortion doubled in 2021: Accenture

Companies facing a surge in cybercrime can take several steps to limit the risk — and cost — of a ransomware attack.

By Jim Tyson • Feb. 17, 2022

Gensler aims to boost SEC incentives for whistleblowers

After a record year for whistleblower awards, SEC Chair Gary Gensler wants to increase the enticements for those who disclose financial misconduct. 

By Jim Tyson • Feb. 14, 2022

Senate prepares relief for tough LIBOR legacy contracts

The long-awaited federal legislation would switch a large portion of $1.9 trillion in financial contracts to the Secured Overnight Financing Rate approved by the Federal Reserve.

By Maura Webber Sadovi • Feb. 9, 2022

Supply chain changes can give CFOs tax nexus headaches

Remote workers, and in some cases independent contractors, can also change a company’s state tax situation, specialists say.

By Robert Freedman • Feb. 8, 2022

SPAC industry promotes myths in a 'deep fraud,' former SEC official says

Promoters of SPACs have upheld several "myths" to ensure steady income from a boom in the so-called blank-check companies, according to a former senior SEC official.

By Jim Tyson • Feb. 2, 2022

HeadSpin action helps it avoid SEC penalties despite fraud charges

The software company, after an internal investigation, forced the founder and CEO to resign, hired new executive leadership and recapitalized to repay investors. 

By Robert Freedman • Jan. 31, 2022

Supply chain overhaul brings benefits with tax complexity: EY

Although the pandemic revealed the costs of relying on a global supply chain, companies that bring production home may face a big tax bill.

By Jim Tyson • Jan. 28, 2022

Petition details Trump Organization valuation practices

A property the company bought in 1995 for $7.5 million was valued at almost $300 million in 2014, even though a plan for luxury home development was still in the starting gate, the document shows.

By Robert Freedman • Jan. 20, 2022

Antitrust officials will update M&A rules for technology, other sectors

The Federal Trade Commission and Department of Justice say current M&A guidelines may lag changes in technology-driven markets. 

By Jim Tyson • Jan. 19, 2022

Interest deduction, R&E changes could raise 2022 tax bill

Finance leaders will need to determine how two provisions in the 2017 Tax Cuts & Jobs Act that take effect this year will impact their operations, says a tax specialist.

By Robert Freedman • Jan. 10, 2022

Executive tried to create appearance of market interest to raise company valuation, SEC says

Andrew Murstein replaced Medallion Financial’s use of book value with fair market value as a first step in making a subsidiary’s worth seem higher than it was.

By Robert Freedman • Jan. 7, 2022

Was CFO absence at Theranos a warning sign?

Investors poured some $1.5B into Elizabeth Holmes' blood-testing startup despite the absence of a finance chief. 

By Robert Freedman • Jan. 4, 2022

17 states back court challenge to Nasdaq board diversity rule

A Nasdaq rule endorsed by the SEC and aimed at promoting diversity on corporate boards is a “crude and odious” example of discrimination, state attorneys general said.

By Jim Tyson • Jan. 4, 2022

Nikola fined $125M for founder's exaggerations

Former CEO and Chair Trevor Milton is subject to a separate action that coud result in millions of dollars in disgorgment and penalties if claims succeed.

By Robert Freedman • Dec. 21, 2021

Regulators warn of legal risks to companies that botch LIBOR transition

“More work remains to be done” on the imminent phase-out of LIBOR to reduce the risk of market instability, Treasury Secretary Janet Yellen said.

By Jim Tyson • Dec. 17, 2021

SEC proposes enhanced buyback disclosures

Companies must let investors know why they’re executing a repurchase program and how they determined the amount of shares involved, among other things.

By Robert Freedman • Dec. 15, 2021

SPACs could face more restatements because of equity classification

In a high-profile case, the sponsor of WeWork, BowX, is restating its past year’s financials to correct for classifying a portion of its shareholder equity as permanent, rather than as temporary.

By Robert Freedman • Dec. 10, 2021