The Latest
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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.
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Sponsored by CoStar Real Estate Manager
ASC 842 lease accounting software for the long term
Lease accounting solutions have to be advanced enough to actually solve both the problems of today and those to come.
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McDonald’s ends automated drive-thru pilot
The fast food chain still sees a future for automated order taking at the drive-thru and expects to make a decision about the tech by year’s end.
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EY’s $1B pledge targets 10% raise in starting CPA-track pay
The Big Four firm’s new initiative is tackling one of the most cited causes of the shrinking accounting talent pipeline: comparatively low starting salaries.
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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.
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Ex-Synchronoss CFO to pay $125k fine for accounting misconduct
Alongside the reimbursement of certain compensation to Synchronoss, the ex-CFO agreed to pay $125,000 in civil penalties without admitting or denying the SEC’s charges.
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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.
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In interim CFO pick, Tyson draws on established finance creds
The beleaguered chicken processor is leaning on a company veteran with nearly two decades of finance experience as interim CFO following John R. Tyson’s suspension.
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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.
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In-house counsel compensation rose 4%, in line with inflation
Median compensation for in-house counsel rose modestly this year as the incidence of signing bonuses declined.
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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.
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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.
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Reduced pricing plan sees Wise shares slump despite profit surge
The fintech plans to continue its strategy of reducing prices for its customers, which is reflected in its forecast, interim CFO Kingsley Kemish said.
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Fed trims 2024 rate forecast to one cut, holds borrowing costs steady
The Fed decision followed a report that inflation last month rose less than economists predicted and at the slowest pace since 2021.
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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.
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40% of executives brace for ‘major’ reorganization, including layoffs: PwC
Companies are reorganizing to fight margin pressure and planning moves that might require wide-ranging operating model changes, executives said.
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PCAOB Chair Erica Williams gets second term
The board has pursued an aggressive agenda under Williams, with record fines against accounting firms.
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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.
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Office fit-out cost growth downshifts to 2.7%: JLL
While U.S. and Canadian workers are typically in the office just 3.1 days a week, employers are still spending more when building new space.
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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.
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IBM’s Apptio unit tests AI tool trained to tackle rising IT costs
The effort comes as many finance leaders are grappling with out-of-control cloud expenses.
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OpenAI appoints Nextdoor, Square alum as CFO
Sarah Friar brings a resume packed with both Silicon Valley and investment banking experience to her new role at the artificial intelligence firm.
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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.
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Four takeaways from the CFO Leadership Council’s confab
Generative AI, labor challenges, and cybersecurity worries were some of the top issues on finance chiefs' minds during the two-day conference.
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Alphabet hands new CFO $9.9M sign-on bonus
The incoming finance chief — Eli Lilly veteran Anat Ashkenazi — was granted the bonus in light of “her prior company’s forfeited compensation,” Alphabet said.
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How big retailers are battling the last-mile delivery squeeze
Walmart, Target and Kroger executives pointed to price and technology improvements that they are using to offset cost pressures.