Stock buyback tax looms over SPACs

The new 1% excise tax on share buybacks —  effective Jan. 1 —  threatens to ding special purpose acquisition companies as the SPAC market has all but dried up.

By Maura Webber Sadovi • Jan. 4, 2023

SEC charges ex-CFO at gold mining SPAC with $5M fraud

The embezzlement allegations follow the collapse of the SPAC market in 2022 and sharper SEC scrutiny of the so-called blank check companies.

By Jim Tyson • Jan. 4, 2023

Digital Realty promotes exec to CFO seat

Digital Realty’s Matt Mercier will take the CFO seat as its former financial head moves to the CEO role.

By Elizabeth Flood • Jan. 4, 2023

Salesforce to cut 10% of workforce, trim real estate

The software provider will incur between $1.4 billion and $2.1 billion in charges as it moves to pare down its workforce and real estate footprint.

By Grace Noto • Jan. 4, 2023

IRS delivers ‘crucial guidance’ on 15% minimum tax

The interim guidance gives tax preparers some key directions for interpreting the 15% Corporate Alternative Minimum Tax. But more questions remain, experts say.

By Maura Webber Sadovi • Jan. 3, 2023

SEC commissioner opposes ‘ballooning’ PCAOB budget

The PCAOB has stirred up criticism since SEC Chair Gary Gensler shook up its leadership and called for sharper regulation of the firms that audit public companies.

By Jim Tyson • Jan. 3, 2023

CFOs see their firms’ prospects darken in 4Q: Deloitte

CFO pessimism around their own companies’ financial prospects touched a level not seen since the height of the pandemic, a Deloitte survey found.

By Grace Noto • Dec. 16, 2022

New York Times CFO to retire in 2023

The New York-based national news company says farewell to Roland Caputo as he plans to retire after 36 years.

By Elizabeth Flood • Dec. 14, 2022

Macerich CFO says mall foot traffic portends good year

Consumers are still heading back to shopping malls this holiday season despite inflation woes, according to Macerich CFO and treasurer Scott Kingsmore.

By Elizabeth Flood • Dec. 13, 2022

DOJ, SEC charge Sam Bankman-Fried with defrauding investors

Former FTX CEO Sam Bankman-Fried was arrested Monday night in the Bahamas and charged Tuesday with eight criminal counts including wire fraud.

By Gabrielle Saulsbery • Dec. 13, 2022

Shoddy ESG data stymies 35% of senior executives: Deloitte

CFOs have redoubled efforts to measure sustainability as the SEC completes a rule requiring disclosure of climate risks.

By Jim Tyson • Dec. 12, 2022

Tyson Foods backs CFO after reviewing arrest

The meat processing giant’s pick of John R. Tyson — the great grandson of the company’s founder — has drawn skepticism from some board governance experts.

By Elizabeth Flood • Dec. 9, 2022

SEC calls for disclosure on crypto risks, citing ‘financial distress’

The collapse of FTX has slammed scores of creditors, prompting SEC concerns that companies may suffer losses from direct or indirect links to crypto markets.

By Jim Tyson • Dec. 9, 2022

PCAOB warns of uptick in auditing flaws

To avert flaws in reports, CFOs should keep auditors apprised of any big changes or new business risks and invest in internal controls.

By Maura Webber Sadovi • Dec. 8, 2022

CFO stressors: Job creep

While many finance chiefs are adjusting to their expanding duties, some CFOs feel they are doing an untenable share of the C-suite’s heavy lifting.

By Elizabeth Flood • Dec. 7, 2022

For CFOs rethinking growth, profitability, data is key

Investing in data analytics that can reveal key opportunities can aid CFOs looking to better balance growth and profitability.

By Grace Noto • Dec. 7, 2022

US watchdog sanctions three KPMG global firms

The PCAOB cracked down against KPMG for several alleged violations in the latest sign of tougher oversight of the accounting firms that audit publicly listed companies.

By Jim Tyson • Dec. 7, 2022

Treasurers warm to liquidity, yields of T-bills, Jiko CEO says

As interest rates have risen against a backdrop of volatile equity and currency markets, lower-risk T-bills are drawing more interest.

By Maura Webber Sadovi • Dec. 6, 2022

10 of the year’s biggest CFO stories

As the year winds down, we wanted to take a moment to highlight some of the stories that have helped keep our readers in the know in 2022. 

By Maura Webber Sadovi • Dec. 2, 2022

FASB takes step toward clarifying lease accounting

The proposed lease accounting update comes as the FASB works on a project that would require companies to disclose more income-tax information.

By Maura Webber Sadovi • Dec. 1, 2022

CFOs up forecasting frequency amid economic uncertainty: survey

Pricing pressures, labor costs and talent retention struggles are creating new forecasting challenges for financial and business leaders, the AICPA & CIMA survey found.

By Grace Noto • Dec. 1, 2022

Vail Resorts appoints company alum to CFO seat

Angela Korch left Vail Resorts just over two years ago to become CFO of CorePower Yoga. She is returning to take the ski resort operator’s finance helm.

By Elizabeth Flood • Nov. 29, 2022

Auto, manufacturing could be next in line for layoffs, IMA CFO says

Between rising interest rates and global supply chain issues, the manufacturing and automobile industries may be next in line for workforce cuts.

By Elizabeth Flood • Nov. 28, 2022

CFOs must sharpen storytelling skills for boards

CFOs must take on the role of storyteller when communicating with their boards as their focus shifts from growth and towards long-term sustainability in a pre-recession environment.

By Grace Noto • Nov. 28, 2022

Capture more spend and increase your corporate card rebate

As financial leaders seek ways to drive revenue, they should consider shifting more spend to their corporate credit card program.

Nov. 28, 2022