PCAOB gains breakthrough access to Chinese audit firms

The PCAOB’s push for more transparency in China-based companies will enable CFOs and auditors who heavily rely on Chinese firms to better understand their partners’ operations.   

By Maura Webber Sadovi • Dec. 15, 2022

Fed raises main rate by half point, signals higher level in 2023

Fed Chair Jerome Powell said that recent progress in reducing inflation is not enough to forestall increases in borrowing costs in 2023.

By Jim Tyson • Dec. 14, 2022

Trump case spells benefits’ tax perils

Underreporting “fringe benefits” has long been on the IRS’ radar but there appears to be a shift toward holding companies more accountable for tax reporting.

By Maura Webber Sadovi • Dec. 14, 2022

Inflation slows, validating Fed plans for half point rate hike

Fresh data show that the Fed is making progress in its fight against inflation and may pause its policy tightening early next year.

By Jim Tyson • 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

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

3 reforms for the post-FTX crypto era

FTX’s collapse underscores the highly-centralized crypto market’s risks and blockchain’s importance as a defense against bad actors, Metallicus' CFO argues.

By Irina Berkon • 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

US could skirt recession, former Fed economist says

Inflation and economic uncertainty top business leaders’ worries, but easing supply chain pressures and a strong labor market could help the U.S. avoid a recession.

By Grace Noto • Dec. 8, 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

CEOs trim hiring, capital investment plans: Business Roundtable

CEOs facing a gloomier economic outlook have pared back expansion plans but do not necessarily expect a recession in 2023.

By Jim Tyson • Dec. 6, 2022

Recession odds next year exceed 50%: NABE

High inflation will persist next year but slow as employers trim growth in payrolls, forecasters told NABE in a survey.

By Jim Tyson • Dec. 5, 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

CFOs bolster finance teams with automation

Although automation has the potential to add value, CFOs must be prepared for technology pitfalls.

By Grace Noto • Dec. 2, 2022

Tyson CFO pleads not guilty to criminal trespass, intoxication charges: reports

Tyson Foods has drawn criticism from some corporate governance experts who have said the company should have taken a more aggressive stance on the arrest of its newly-minted CFO.

By Elizabeth Flood • Dec. 1, 2022

Fed’s Powell signals slower rate increases

The Fed will likely raise the federal funds rate in lower increments as it assesses the impact from the most aggressive withdrawal of monetary stimulus since the 1980s.

By Jim Tyson • Nov. 30, 2022

Internal audit leaders flag cyberattacks as top 2023 risk: ManpowerGroup

Chief audit executives struggle to fend off ransomware attacks as the tight labor market leaves them understaffed.

By Jim Tyson • Nov. 29, 2022

ESG score hurts credit rating for 20% of organizations: Moody’s

More than half of organizations that issue speculative-grade debt faced a negative impact on their credit rating after a sustainability assessment.

By Jim Tyson • Nov. 28, 2022

‘Inflation may have peaked’ as economy slumps: Fannie Mae

The U.S. economy will likely shrink during this quarter and most of 2023 as the Federal Reserve cools demand and curbs inflation, Fannie Mae said.

By Jim Tyson • Nov. 22, 2022

Holiday clues appear in October retail sales

Consumers will be relying on credit cards, their savings and heavy discounts in what is shaping up to be an uncertain season for retailers.

By Daphne Howland • Nov. 22, 2022

CFO stressors: Four cures for inflation fever

CFOs have seized on ways to shield profits against the worst price pressures in nearly 40 years.

By Jim Tyson • Nov. 21, 2022

U.S. will ‘narrowly avoid recession’: Goldman Sachs

The Federal Reserve will slow the pace of tightening next month and early next year but not cut the federal funds rate until Q2 2024, Goldman Sachs predicted.

By Jim Tyson • Nov. 18, 2022

SEC: Big fines make violations more than a cost of doing business

The Securities and Exchange Commission ramped up enforcement and extracted record fines in fiscal year 2022, a signal to companies that it wants to see a change in behavior.

By Robert Freedman • Nov. 17, 2022

Most auditors pessimistic about economy: CAQ

Inflation ranks as the top threat to U.S. companies in the coming months, according to auditors surveyed by the Center for Audit Quality.

By Jim Tyson • Nov. 16, 2022