Top Fed official warns banks slow to end use of LIBOR

Federal Reserve Vice Chair Randal Quarles said regulated institutions face “intense” oversight of their transition from the London Interbank Offered Rate (LIBOR).

By Jim Tyson • March 22, 2021

Stimulus includes surprise expansion of executive pay curb

A last-minute addition discourages lofty compensation by subjecting an increased number of employees to a deduction cap.

By Robert Freedman • March 22, 2021

SEC charges co-founders of Biotech company with $60M fraud

Company executives concealed improper practices by directing employees to provide insurers with backdated and misleading medical records. 

By Robert Freedman • March 21, 2021

Federal watchdog warns of cybersecurity risks to employee retirement plans

Fiduciaries might not realize they could be liable for losses they were obligated to prevent, the Government Accountability Office says. 

By Jim Tyson • March 17, 2021

SEC chair wants corporate disclosure of political donations in ESG regime

SEC Acting Chair Allison Herren Lee said disclosure on political spending would help investors ensure company donations align with public ESG statements.

By Jim Tyson • March 16, 2021

SEC official: Companies avoiding ESG disclosures 'risk higher costs of capital'

Disclosing some ESG-related issues may eventually prove as important for companies as reporting asbestos-related risks, a top SEC official said.

By Jim Tyson • March 13, 2021

EBITDA, factoring, other issues leading to 2020 reporting differences

Companies are showing pandemic impacts in their 2020 financial reports in a variety of ways, a Moody’s analysis finds.

By Robert Freedman • March 11, 2021

SEC charges AT&T, executives with selectively providing analysts Info

The company improperly disclosed material nonpublic information to research analysts, the Securities and Exchange Commission alleges. 

By Robert Freedman • March 10, 2021

Credit risk eases after regulator clarifies sunset of LIBOR, Moody's says

Regulatory clarity on the phase-out of LIBOR has reduced the credit risk tied to billions of dollars in financial contracts, Moody's Investors Service said.

By Jim Tyson • March 9, 2021

CFOs facing an unprecedented range of risks find an edge in analytics

CFOs are adapting to an unusually hazardous business landscape by forecasting with advanced data analytics.

By Jim Tyson • March 8, 2021

Remote work is the tax compliance mess CFOs feared

Data sheds light on CFOs' challenges as they reconcile tax compliance with remote work.

By Steve Black • March 4, 2021

Trump Organization CFO investigated for financial fraud

Allen Weisselberg has overseen the Trump Organization's books for over two decades, and has remained loyal to former President Donald Trump throughout the investigation.

By Jane Thier • March 3, 2021

Companies consider cheaper, faster Subchapter 5 bankruptcies

The process’s higher debt threshold opens the door to companies that would otherwise have few options besides expensive Chapter 11.

By Robert Freedman • March 2, 2021

US tax executives seeing more taxation disputes, survey finds

The economic fallout from the pandemic has prompted U.S. companies to alter their tax strategies and has increased disputes over taxation, according to a BDO survey.

By Jim Tyson • March 2, 2021

Gulfport failed to disclose perks, SEC says; CEO penalized

The gas exploration and development company avoided a fine by fixing the problem quickly, but the CEO was hit with a civil fine for causing the disclosure failures.    

By Robert Freedman • March 1, 2021

Making pandemic-related EBITDA adjustments

Annualized earnings, 2021 EBITDA and swap outs are three approaches CFOs are taking to show company performance potential in light of COVID-19. 

By Brian Garfield • Feb. 25, 2021

Former KPMG auditors signed off on incomplete college financials

The SEC penalized the auditors for their unprofessional conduct in allowing the College of New Rochelle to release a financial report before completing critical audit steps.   

By Robert Freedman • Feb. 24, 2021

Biden's corporate tax hike would reduce output, jobs, wages, study finds

Biden’s proposed increase in corporate tax would push up the U.S. federal-state combined tax rate to the highest level in the OECD, the Tax Foundation said.

By Jim Tyson • Feb. 24, 2021

Prior business relationships influence PPP coronavirus lending, study finds

Banks used the PPP last year to strengthen relations with “large connected firms,” a joint study by Washington University in St. Louis, Boston College and the University of Geneva found.

By Jim Tyson • Feb. 17, 2021

A financial advisor's top 5 SPAC tax issues

Identifying acquirer and predecessor entities are among decisions the tax team of the combined company must make.

By Robert Freedman • Feb. 17, 2021

FASB OKs more timely goodwill impairment testing

Finance teams can wait until their company’s next reporting period to test for any reduction in value.

By Robert Freedman • Feb. 15, 2021

Study: States cut corporate taxes despite pandemic-induced shortfalls

A plunge in tax revenue caused by the downturn in 2020 did not discourage several states from trimming corporate income taxes.

By Jim Tyson • Feb. 4, 2021

Former WageWorks CEO, CFO fined for improperly recognizing revenue

The penalty includes clawbacks of the executives’ incentive-based compensation.

By Robert Freedman • Feb. 3, 2021

Diverse CFOs could be heading into board-seat golden age

As companies try to meet ESG measures, and a likely Nasdaq rule, efforts to add women and minorities to boards are moving from talk to action, opening opportunities for finance executives. 

By Robert Freedman • Feb. 2, 2021

SEC appoints policy advisor to advance new initiatives on ESG

The appointment of an ESG advisor by the acting SEC chair follows commitments by President Biden to redouble efforts to combat climate change.

By Jim Tyson • Feb. 2, 2021