Financial Reporting: Page 22
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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 Suman Bhattacharyya • 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 Maura Webber Sadovi • April 10, 2024 -
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TrendlineCFO 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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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 Alexei Alexis • 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 Grace Noto • April 9, 2024 -
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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 Alexei Alexis • 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 Grace Noto • 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 Jim Tyson • 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 Maura Webber Sadovi • 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 Grace Noto • 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 Maura Webber Sadovi • April 4, 2024 -
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OpinionHow 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 -
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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 Alexei Alexis • 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 Grace Noto • 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 Grace Noto • April 2, 2024 -
Courtesy of Tupperware
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 Maura Webber Sadovi • 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 Maura Webber Sadovi • March 29, 2024 -
Cara Salpini/CFO Dive
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 Alexei Alexis • 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 Grace Noto • March 27, 2024 -
Courtesy of ADM
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 Maura Webber Sadovi • March 26, 2024 -
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Open Lending taps CFO for interim CEO, COO
Open Lending is leaning on its CFO of four years to position it for growth as it prepares for the “inevitable” recovery of the auto lending industry.
By Grace Noto • March 26, 2024 -
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Fintech Wise swipes Delivery Hero alum for finance chief
Emmanuel Thomassin will depart for the London-based money transfer provider after a decade in Delivery Hero’s top financial seat.
By Grace Noto • March 25, 2024 -
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FASB backs off bigger software accounting revamp
It's been decades since the Financial Accounting Standards Board has made any major changes to GAAP accounting rules for software.
By Maura Webber Sadovi • March 21, 2024 -
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Fed forecasts three, quarter-point rate cuts in 2024, holds main rate steady
Central bank officials upgraded their projection for 2024 economic growth to 2.1% while predicting unemployment will end the year at 4%.
By Jim Tyson • March 20, 2024 -
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Federal appeals court pauses SEC climate rule implementation
The climate disclosure regulation is now on pause pending a review from the U.S. Fifth Circuit of Appeals, as the first of multiple challenges yields action.
By Lamar Johnson • March 19, 2024 -
Courtesy of FASB
Private firms, not-for-profits reckon with CECL
Many not-for-profits and private companies are just beginning to grapple with the new rules for current expected credit loss accounting.
By Maura Webber Sadovi • March 18, 2024
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