Risk Management: Page 15
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Consumer confidence falls amid sagging income, business expectations
“Signs of strain continue to emerge among consumers with low-to-moderate incomes,” Federal Reserve Governor Lisa Cook said Tuesday.
By Jim Tyson • June 25, 2024 -
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SEC’s $2.1M fine on RR Donnelly over hack response slammed as overreach
The agency’s assertion that a cybersecurity failure can be punished as an “internal accounting controls” violation is raising eyebrows.
By Alexei Alexis • June 25, 2024 -
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Supreme Court ruling douses repatriation tax refund hopes
The court affirmed the constitutionality of the one-time Mandatory Repatriation Tax on income from investments in foreign corporations.
By Maura Webber Sadovi • June 24, 2024 -
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Restatements decline, with small companies more prone to error: CAQ
The Sarbanes-Oxley Act of 2002 prompted a long-term reduction in restatements by tightening financial reporting and audit rules, CAQ said.
By Jim Tyson • June 24, 2024 -
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Closing the risk talent gap: Getting the C-suite on the same page
Finance, technology and risk executive leaders must be aligned to properly manage complex market, credit and operational risks, Selby Jennings’ Ben Hodzic said.
By Grace Noto • June 24, 2024 -
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OpinionMind the trust gap: Why C-suite humility matters in the AI era
If executives engage in the big issues of today without acknowledging there can be a diverse set of explanations, they risk losing stakeholder trust, PwC’s Wes Bricker writes.
By Wes Bricker • June 21, 2024 -
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Homebuilding sags to four-year low, stifled by higher-for-longer rates
Mortgage activity last month slumped 8.5% compared with April and 7.3% compared with May 2023, Freddie Mac said Thursday.
By Jim Tyson • June 20, 2024 -
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Slim gain in retail sales highlights challenges for consumers
“Inflation and higher interest rates are straining low- and moderate-income households,” St. Louis Fed President Alberto Musalem said Tuesday.
By Jim Tyson • June 18, 2024 -
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Startup focused on AI-driven cyber threats raises $18M
The announcement comes as artificial intelligence adoption explodes and enterprises grapple with related risks.
By Alexei Alexis • June 18, 2024 -
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IRS aims to end ‘shell game’ by partnerships, targets $50B extra in taxes
Tax dodging by complex partnerships “has been overlooked for more than a decade,” IRS Commissioner Daniel Werfel said Monday.
By Jim Tyson • June 17, 2024 -
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28% of big companies have no formal CFO succession plan, finance chiefs say
The dearth of succession plans for departing finance chiefs comes as CFO turnover at public companies has soared this year.
By Maura Webber Sadovi • June 14, 2024 -
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Microsoft president promises significant culture changes geared towards security
Brad Smith detailed plans to tie compensation to security, as lawmakers raised new questions about the company’s commitment to transparency.
By David Jones • June 14, 2024 -
CFO Editorial Staff
Tyson Foods CFO suspended after arrest for intoxicated driving
This is the second alcohol-related incident for John R. Tyson since he took the executive role less than two years ago.
By Nathan Owens • June 13, 2024 -
Courtesy of FASB
FASB’s environmental credit rules recall crypto debate
Like crypto rules FASB recently finalized, the environmental credit accounting standards would provide specific guidance where GAAP is currently silent.
By Maura Webber Sadovi • June 13, 2024 -
Courtesy of PCAOB
PCAOB Chair Erica Williams gets second term
The board has pursued an aggressive agenda under Williams, with record fines against accounting firms.
By Alexei Alexis • June 12, 2024 -
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Wells, PNC CFOs see office spaces leading CRE stress
“Older office buildings that are not renovated in certain areas of different cities are the places that you’re seeing the most stress,” Wells Fargo CFO Mike Santomassimo said Tuesday.
By Caitlin Mullen • June 12, 2024 -
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Small business uncertainty rises as Fed mulls ‘higher-for-longer’ rates
Fed officials in a meeting Wednesday will likely downgrade from three to two their median projection for the number of quarter-point cuts in the federal funds rate this year, according to futures traders and economists.
By Jim Tyson • June 11, 2024 -
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How CFOs can tap a holistic strategy to cut through indirect tax noise
Taking a platform-based approach can help CFOs get a clearer handle on the data they need to comply with disparate indirect tax requirements.
By Grace Noto • June 11, 2024 -
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Few companies report solid EBIT gains from rush into GenAI: McKinsey
Seven out of 10 companies that use generative AI most effectively said they faced challenges in governing and integrating data, McKinsey said.
By Jim Tyson • June 10, 2024 -
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Quiet vacationing: What’s this summer work trend?
The workers who are afraid of taking PTO have come up with a complicated solution to their anxieties.
By Caroline Colvin • June 7, 2024 -
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Heed Corporate Transparency Act despite legal cloud, experts say
Passed in 2021, the law was designed to prevent bad actors from using legal entities to shield money laundering and other illicit activity.
By Chris Gaetano • June 7, 2024 -
Spencer Platt/Getty Images via Getty Images
Sierra Club, NRDC drop legal challenges to SEC climate rule
The two environmental groups have decided to focus resources elsewhere to improve climate-related financial disclosures.
By Lamar Johnson • June 6, 2024 -
Courtesy of Pat Dorsman for FAF
FASB seeks comment on narrow hedge accounting fix
Despite a unanimous vote, some board members expressed concern the proposed improvements to GAAP hedging guidance do not go far enough.
By Maura Webber Sadovi • June 5, 2024 -
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Cyberattacks pose mounting risks to creditworthiness: Moody’s
“As more data becomes available — thanks to recently adopted disclosure requirements — attacks continue to proliferate,” a Moody’s executive said.
By Jim Tyson • June 5, 2024 -
Courtesy of Consortium of Cybersecurity Clinics
Few CFOs control cybersecurity budgets. Here’s why more should.
Tech executives, not CFOs, most often call the shots on cybersecurity spending at middle market companies, according to a recent RSM US survey.
By Maura Webber Sadovi • June 4, 2024
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