Financial Reporting: Page 11
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Courtesy of Mastercard
Mastercard CFO to continue working after cancer diagnosis
Decisions on medical disclosures can be challenging for companies but Mastercard’s approach drew high marks from some corporate governance experts.
By Maura Webber Sadovi • Sept. 17, 2024 -
Spencer Platt via Getty Images
SEC charges Kubient CEO, CFO with accounting fraud, misleading investors
Kubient’s ex-CEO, ex-CFO and former head of audit each lied to the business’ independent auditor and reported $1.3 million in false revenue, the SEC alleges.
By Grace Noto • Sept. 17, 2024 -
David Ryder/Getty Images via Getty Images
Microsoft finance team puts Copilot to the test in transformation push
The software giant’s finance professionals have become some of Copilot's top users in the company, Microsoft’s Cory Hrncirik said.
By Alexei Alexis • Sept. 17, 2024 -
Dan Kitwood via Getty Images
AICPA, NASBA take big step toward CPA licensure option with less schooling
The accounting associations are seeking public comment on an alternative route to getting a CPA license that doesn’t require a fifth year of college.
By Maura Webber Sadovi • Sept. 16, 2024 -
Justin Sullivan via Getty Images
T-Mobile hikes CFO compensation amid antitrust scrutiny
The CFO’s raise comes as T-Mobile looks to continue an aggressive growth push in the face of antitrust scrutiny from lawmakers.
By Grace Noto • Sept. 16, 2024 -
Courtesy of IMAX
IMAX CFO: Taking a disciplined approach to movie magic
Dubbed a “homegrown talent” when named CFO in 2022, Natasha Fernandes says relationships forged in the finance trenches have been key to her success.
By Maura Webber Sadovi • Sept. 13, 2024 -
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SEC charges leaders of failed online pharmacy in $170M fraud case
SEC Chair Gary Gensler has stepped up enforcement since 2021, targeting investor fraud, cyber-related misconduct and misleading financial reporting.
By Jim Tyson • Sept. 13, 2024 -
Laurence Dutton via Getty Images
CFOs’ AI adoption gains momentum: Gartner
Sixty-six percent of finance leaders are more optimistic about the technology compared to last year, the study found.
By Alexei Alexis • Sept. 11, 2024 -
Tero Vesalainen via Getty Images
Ally shares slump after CFO warns of ‘intensified’ credit challenges
Borrowers have continued to struggle with high inflation, cost of living and a “weakening” employment picture, CFO Russ Hutchinson said.
By Grace Noto • Sept. 11, 2024 -
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Airwallex eyes embedded payments in globalization push
Two “immediate bets” the company is making include increasing headcount in Brazil and Mexico, executive GM Ravi Adusumilli said.
By Grace Noto • Sept. 10, 2024 -
Scott Olson via Getty Images
New Eli Lilly CFO to receive $1M salary, bonus opportunity
The financial leadership transition is coming as the pharma giant hovers just below a $1 trillion market cap in the midst of rising demand for several new medications.
By Grace Noto • Sept. 9, 2024 -
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SoundHound AI programmatic M&A strategy targets 2025 ‘break even’
In the midst of AI hype, SoundHound is leaning on programmatic M&A to balance profitability with hypergrowth, CFO Nitesh Sharan said.
By Grace Noto • Sept. 6, 2024 -
Justin Sullivan via Getty Images
Honeywell taps insider for CFO seat
The transition comes as Charlotte, North Carolina-based Honeywell’s CEO is laser-focused on accelerating growth.
By Alexei Alexis • Sept. 5, 2024 -
Chip Somodevilla via Getty Images
Tax compliance costs surge 32% since 2017: Tax Foundation
Efforts to simplify the federal tax code have failed to reverse decades of regulatory and legislative changes that have made it more complex.
By Jim Tyson • Sept. 5, 2024 -
Courtesy of ADM
New ADM CFO to tackle ‘root cause’ of material weakness
Just weeks into his CFO tenure, Monish Patolawala said he’d prioritize remediating the accounting woes that have rocked the company this year.
By Maura Webber Sadovi • Sept. 4, 2024 -
Chip Somodevilla via Getty Images
SEC fines credit rating firms $49M for record-keeping flaws
Employees at some of the firms routinely discussed credit ratings on their personal communication devices, the SEC said.
By Jim Tyson • Sept. 4, 2024 -
Mario Tama via Getty Images
ESG controllers: The newest finance hires
Depending on the company’s structure, the specialized controllers often report to the corporate controller or the CFO, Deloitte’s Kristen Sullivan said.
By Maura Webber Sadovi • Sept. 3, 2024 -
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Paysafe taps FIS alum for CFO amid growth pivot
The iGaming payments platform is looking to expand on its “robust” performance in the first half of the year with the appointment of new financial leadership.
By Grace Noto • Sept. 3, 2024 -
Justin Sullivan via Getty Images
Dollar General CFO cites inflation, cost pressures as shares slump
“The customer will continue to feel financial pressure for the duration of the year,” CFO Kelly Dilts said on the company’s second quarter earnings call.
By Suman Bhattacharyya • Aug. 30, 2024 -
Michael M. Santiago via Getty Images
Trump case sparks request for FASB accounting rule revamp
Daniel Tinkelman, a professor of accounting at Brooklyn College of the City University of New York, is asking the FASB to revise and clarify the GAAP rules.
By Maura Webber Sadovi • Aug. 29, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC charges Navy shipbuilder Austal with accounting fraud
Austal understated an accounting metric known as “estimate at completion” for the construction of Littoral Combat Ships, according to SEC allegations.
By Jim Tyson • Aug. 28, 2024 -
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Super Micro delays 10-K filing to assess internal controls
The AI server maker delayed its 10-K as experts partly blame a recent spike in tardy annual reports on the accounting talent shortage and increased regulation.
By Maura Webber Sadovi • Aug. 28, 2024 -
Christopher Furlong via Getty Images
Cannabis firm Ascend terminates CFO, CEO amid refinancing push
Ascend is the third large cannabis company to see its CEO out the door this month.
By Grace Noto • Aug. 28, 2024 -
Scott Olson via Getty Images
Trump Media CFO sells $1.9M in company stock
The sale comes as a six-month ban preventing former President Donald Trump from selling his own stock in the beleaguered company inches to an end.
By Grace Noto • Aug. 26, 2024 -
Kena Betancur via Getty Images
Longtime Zoom Video CFO to step down
Kelly Steckelberg is leaving the video conferencing platform after seven years as CFO.
By Grace Noto • Aug. 22, 2024
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