Risk Management: Page 23

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    Red Lobster’s ‘erratic’ payments to vendors among bankruptcy warning signs: Creditsafe

    The company’s average “days beyond terms” jumped from 15 in December to 30 in January, reaching 57 as of March.

    By • May 22, 2024
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    More small companies willing to distort books to hide corruption: ACCA

    The U.S. has made little progress combating corruption since 2021, according to Transparency International.

    By • May 21, 2024
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    Trendline

    Top 5 stories from CFO Dive

    Tarifff headwinds along with the accounting talent shortage and the promises and traps of generative AI, are among the top issues CFOs are grappling with this year.

    By CFO Dive staff
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    Shadow IT surge threatens corporate data: report

    OpenAI’s ChatGPT tool remains the most frequently used AI application in the workplace, according to the research.

    By • May 21, 2024
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    Economists bump up 2024 core PCE inflation forecast to 2.7%: NABE

    Fed officials reiterated Monday that before trimming borrowing costs they need more confidence that price pressures will steadily decline.

    By • May 20, 2024
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    GDP growth to sink below 1% amid ‘serious headwinds’: Conference Board

    Several recent signals from the economy suggest that the expansion is slowing after defying recession predictions in 2023.

    By • May 17, 2024
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    Scammers siphon $25M from engineering firm Arup via AI deepfake ‘CFO’

    Cybercriminals utilized AI deepfakes to falsely pose as Arup’s CFO and other employees, leading a staff member to transfer $25 million to Hong Kong bank accounts.

    By • May 17, 2024
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    Kate Tornone/CFO Dive
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    Employers should include workers in AI plans, DOL says

    The agency outlined a list of eight “AI Principles for Developers and Employers” on Thursday, following up on a 2023 directive from the White House.

    By Ryan Golden • May 16, 2024
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    Inflation cools, reassuring Fed after unexpectedly hot gains in Q1

    The yield on the benchmark 10-year Treasury note fell on investor speculation that slower inflation will prompt the Fed to sooner cut borrowing costs.

    By • May 15, 2024
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    Companies are choosing leaner operations over price hikes: BCG

    Passing on cost increases to inflation-weary consumers is challenging, but not raising prices carries its own risks.

    By • May 15, 2024
  • Jerome Powell, testimony, U.S. House, Financial Services Committee
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    Powell sees longer inflation fight, ‘very small’ odds of Fed rate hike

    “We have the highest interest rates in some time,” Powell said Tuesday. “The question is, ‘is it sufficiently restrictive?’”

    By • May 14, 2024
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    Brex CFO mulls long-term IPO scenario but keeps eye on costs, ROI

    The prevailing attitude among companies seeking to go public is to achieve profitability beforehand, Ben Gammell said.

    By • May 14, 2024
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    Cybersecurity ops budgets expected to climb: KPMG

    The average annual budget for SOCs — a one-stop shop for managing cyber threats — is $14.6 million, according to a KPMG survey of large firms.

    By • May 14, 2024
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    CFO Editorial Staff
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    PCAOB adopts updated ‘foundational’ rules requiring faster audit filing

    The U.S. audit watchdog updated standards created two decades ago and aligned regulation with changes in technology.

    By • May 13, 2024
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    Inflation to slow, settling close to Fed target in 2025: Wolters Kluwer

    The forecast that price pressures will fall aligns with a 13% decline this month in sentiment among consumers, who fuel roughly 70% of economic growth.

    By • May 10, 2024
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    More companies are tying ESG metrics to executive compensation: WTW

    Despite political blowback in the U.S., companies are increasingly incorporating ESG metrics into performance measures and incentive plans, according to the insurance services provider.

    By • May 9, 2024
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    Fed likely to hold rates high before cutting twice in Q4: Conference Board

    Central bank officials this week have signaled that strength in hiring and economic growth may prompt the Fed to keep interest rates high longer than previously expected.

    By • May 8, 2024
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    Generative AI enables small accounting firms to challenge big ones: AICPA

    Accountants should respond to the rapid pace of generative AI adoption by embracing it and delving into experimentation, the AICPA said.

    By • May 7, 2024
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    Fraud detector Traceable zeroes in on GenAI threats

    The startup is rolling out new AI-related threat detection capabilities on the heels of securing $30 million in funding from investors, including Citi Ventures.

    By • May 7, 2024
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    Only 34% of firms deploy safeguards against generative AI threats: Splunk

    Generative AI gives cyberattackers an edge over cyber-defenders, according to security experts surveyed by Splunk.

    By • May 6, 2024
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    Microsoft says cybersecurity overhaul will impact top execs’ pay

    The development follows harsh criticism by a Department of Homeland Security panel of the company’s response to a 2023 breach.

    By • May 6, 2024
  • Inhabitants leaving the city of Kiev in Ukraine following missile strikes of Russian armed forces in 2022.
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    Businesses need ‘eye in the sky’ scanning for geopolitical risks: McKinsey

    Building a coordinated scanning and oversight capability can help organizations separate signal from noise, says Ziad Haider, a partner and global director at McKinsey.

    By • May 3, 2024
  • Header image for "Fed Shows Resolve to Hit 2% Inflation Goal, Raises Rates Again"
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    Fed holds main rate steady, citing lack of progress against inflation

    Fed Chair Jerome Powell said that the central bank will likely need to sustain current borrowing costs longer than it had expected early this year.

    By • May 1, 2024
  • A bronze sculpture of an eagle with a 16-foot wingspan adorns the outside of the Federal Reserve Bank of Atlanta.
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    Wage gains, inflation undercut Fed forecast for three rate cuts this year

    A report of rising wages prompted traders in interest rate futures to dial down bets on reductions in the Federal Reserve’s main interest rate.

    By • April 30, 2024
  • Google and the Consortium of Cybersecurity Clinics are collaborating on an effort to train diverse students in cybersecurity.
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    Courtesy of Consortium of Cybersecurity Clinics
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    Escalating cyber talent shortage drives up risks: report

    Cybersecurity threat actors' innovative methods are driving up demand for professionals with diverse and specialized skill sets, the World Economic Forum said.

    By • April 30, 2024
  • Team of consulting auditors auditing the financial report data of the company (balance sheet, income statement) on computer screen with business charts, fintech
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    Internal audit leaders need to hire more tech-savvy accountants: IIA

    Companies hiring for internal audit need to prepare for disruption from new technology such as artificial intelligence and robotic process automation, IIA said.

    By • April 29, 2024