Financial Reporting


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    Controllers hunt for workarounds to ‘continuous’ reporting, accountant shortage

    As leaders of their firms’ accounting operations, many controllers are outsourcing work and using AI to speed accounts payable and receivable tasks.   

    By Chris Gaetano • April 19, 2024
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    Accounts receivable automator Versapay taps new CFO

    Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.

    By April 18, 2024
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    KanawatTH via Getty Images
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    Trendline

    CFO best practices in the evolving generative AI era

    As the initial frenzy around the launch of generative artificial intelligence subsides, a new GenAI era appears to be taking shape.

    By CFO Dive staff
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    Werfel sees IRS budget request yielding $341B in extra revenue

    The IRS chief testified to a Senate committee after Republican lawmakers secured a $20-billion cut to the agency’s budget.

    By April 17, 2024
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    Courtesy of Orthofix
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    Orthofix replaces fired CLO, grapples with internal control ‘material weakness’

    The new chief legal officer is joining the company as it faces a fresh set of headwinds related to its internal control over financial reports.

    By April 17, 2024
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    NYCB hires new CFO, general counsel

    The beleaguered Long Island-based lender brought aboard four executives Friday whose careers had crossed paths with that of newly minted CEO Joseph Otting.

    By Dan Ennis • April 15, 2024
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    CFOs mull future benefits for AI in tax: insightsoftware

    When it comes to bringing AI into tax, it remains a bit of a “wait and see” for finance chiefs, said insightsoftware’s Josh Schauer.

    By April 11, 2024
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    Lack of uniform standards and disclosures a roadblock to scaling transition finance: report

    A lack of standardized definitions, metrics and transition finance instruments endorsed by international organizations threatens broader adoption, the CFA Institute said.

    By April 11, 2024
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    PCAOB levies record $25M fine on KPMG Netherlands for exam cheating

    The $25 million penalty is the largest fine of any type imposed by the auditor watchdog since it was created in 2002 following the Enron accounting scandal. 

    By April 10, 2024
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    KFC names new CFO amid push to boost sales

    The finance leadership change comes as KFC struggles with dwindling traffic in a dicey economic environment.

    By April 10, 2024
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    Interim CFO requests skyrocket 46%: BTG

    Companies are turning to interim financial leadership more frequently as they struggle to fill widening gaps in their accounting and finance functions.  

    By April 9, 2024
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    Stephen Brashear via Getty Images
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    Nation-state actors drive up cyberthreats

    Microsoft and Hewlett Packard Enterprise are among companies that have recently reported high-profile cyber intrusions attributed to nation-state actors.

    By April 9, 2024
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    As Zillow alum takes the financial helm, Varo Bank sets sights on profitability

    Varo’s Allen Parker is focused on “ensuring finance can play a role in how we prioritize our investments” which will be critical to achieving profitability, he said.

    By April 8, 2024
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    Deploying AI in accounting poses 12 audit risks: CAQ study

    CFOs see the value of generative artificial intelligence but may not fully grasp its audit risks, according to the Center for Audit Quality.

    By April 5, 2024
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    FASB to borrow from international rules for government grants

    Many businesses and financial report preparers already rely on the IAS government grant accounting rules because GAAP is silent on the subject.

    By April 5, 2024
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    NY AG prods for missing email relating to ex-Trump CFO’s perjury plea

    Allen Weisselberg’s testimony surrounding the triplex was central to the charges of perjury levied against the former CFO, who is set to begin a five-month jail sentence on April 10.

    By April 5, 2024
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    IRS warns of ‘Dirty Dozen’ worst tax scams to avoid

    The Internal Revenue Service is once again flagging the pandemic-era employee retention credit as a tax claim that it is closely watching.

    By April 4, 2024
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    Stock photo via Getty Images
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    Opinion

    How speeding the path to CPA licensure hurts finance teams

    A Minnesota bill offering an alternative route to CPA licensure threatens a secret weapon of accountants and the businesses they serve, the AICPA’s Marta Zaniewski writes.

    By Marta Zaniewski • April 4, 2024
  • The Spotify company logo is diaplayed as traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 01, 2023 in New York City.
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    Spotify names new CFO amid profitability push

    The move follows efforts by the music streaming giant to turn the page on a history of financial struggles, including by raising prices and cutting staff.

    By April 4, 2024
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    Intel appoints new CFO to troubled chipmaking unit

    The appointment follows a $7 billion operating loss for Intel’s foundry unit as AI’s potential pushes up both interest and pricing in the semiconductor space.

    By April 3, 2024
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    Allstate alum joins Farmers Insurance as CFO

    Farmers is one of many insurers who stepped back from providing services to certain states in the face of increasing environmental risks in 2023.

    By April 2, 2024
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    Courtesy of Tupperware
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    Tupperware flags accounting strains in late 10-K notice

    The late notice comes roughly five months after Tupperware said its former independent auditor PricewaterhouseCoopers declined to be re-appointed. 

    By April 1, 2024
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    FASB fine-tunes proposed expense disclosure rule

    The proposed accounting standards update is one of several initiatives that have been a priority for FASB under the general theme of disaggregation.

    By March 29, 2024
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    Cara Salpini/CFO Dive
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    GameStop’s interim CFO gets permanent seat

    The appointment comes after significant churn in the position and as the company looks to turn around slumping sales.

    By March 27, 2024
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    Mock earnings helped prep for IPO, Cava CFO says

    The restaurant chain’s blockbuster 2023 initial public offering was seen by some as a promising sign for the lackluster IPO market.

    By March 27, 2024
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    Courtesy of ADM
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    Interim ADM CFO gets $35K monthly pay boost

    Embattled Archer Daniels Midland also gave interim finance chief Ismael Roig restricted stock valued at $1 million that will fully vest in March of next year.

    By March 26, 2024