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OpinionFrom scramble to opportunity: Leveraging AI in the year-end close
“AI is rapidly transforming the future of finance, laying the groundwork for a world where routine processes run autonomously,” writes SAP’s Lawrence Martin.
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4 top takeaways from MIT’s 2025 CFO Summit
Change is here, CFOs know — but what change is most critical? At the Thursday conference outside Boston, many finance chiefs were clearly wrestling with how everything from AI to team structure is shaking up their jobs.
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Courtesy of GE Appliances
Job gains slowing, unemployment likely to rise to 4.5% next year: NABE
While forecasting a mix of rising unemployment with above-target but steady inflation, most NABE forecasters predicted that the Federal Reserve will trim borrowing costs next month.
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Courtesy of Kroger
Kroger acknowledges that its bet on robotics went too far
The retailer’s decision to close three automated fulfillment centers reflects the stark changes in grocery e-commerce that have taken place in the years since it launched its partnership with Ocado.
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NY Governor Hochul signs CPA licensing bill
With New York, at least 24 states have eased education requirements needed to become a certified public accountant in a bid to address a talent shortage.
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Detroit Riverfront Conservancy tightens controls after CFO scandal
William A. Smith was sentenced in April to 19 years in prison for embezzling more than $40 million from the Detroit nonprofit while he was finance chief.
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Consumer sentiment slumps near record low: University of Michigan
Measures of the consumer outlook for both personal finances and buying conditions for durable goods plunged more than 10%, the University of Michigan found in a survey.
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Courtesy of Microsoft
Citi CFO Mark Mason to step down in March
The bank tapped Gonzalo Luchetti, its head of U.S. personal banking, to succeed Mason, who will become an executive vice chair and leave by the end of 2026 to pursue outside leadership opportunities.
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CFOs see steady comp improvement, but outsize packages level off
Employers are being more cautious when it comes to paying up for new finance chief hires, according to executive search firm experts.
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SEC drops civil fraud case against SolarWinds
Cybersecurity and legal experts considered the case a potential precedent-setter for risk disclosure.
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Hiring in September exceeds forecasts, while jobless rate rises to 4.4%
A fresh jobs report will likely do nothing to narrow a debate among Federal Reserve officials about the best path for monetary policy.
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SEC enforcements slump 30% in fiscal 2025: Cornerstone
Former SEC Chair Gary Gensler oversaw 93% of the 56 SEC enforcement actions brought during the 12 months ended Sept. 30, a report found.
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Courtesy of Xerox
Xerox CFO to exit post after less than a year
Finance chief Mirlanda Gecaj is leaving based on a “mutual decision” with Xerox, the company said.
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FASB takes up new crypto transfers project
The accounting standards setter voted to tackle transfers of crypto assets including wrapped tokens, marking the third digital assets project to hit its technical agenda.
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Inflation ranks as No. 1 worry among small businesses: Bank of America
Most small business owners said their costs have increased 18% on average during the past year, Bank of America said.
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CFOs’ AI adoption slows as challenges mount: Gartner
Data literacy/technical skills and inadequate data quality remain the largest obstacles to AI adoption, the study found.
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Coursera picks outsider for interim CFO amid AI push
Coursera will grant Google alum Michael Foley a $200,000 cash bonus, “contingent upon satisfactory performance of certain key responsibilities” as interim CFO.
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CFOs are reaching for downside budget protections, McKinsey exec says
A conservative sentiment is shaping this year’s budget season, with many companies taking extra care setting spending priorities and realistic goals, McKinsey’s Kevin Carmody says.
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Papa Johns CFO gains dual role, salary bump
Appointing its finance chief Ravi Thanawala to the dual role of CFO and president could signal additional belt-tightening by the pizza chain, Cowen Partners’ Shawn Cole said.
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Alphabet, HP, IBM finance execs spotlight cautious AI pilots
Keeping humans “in the loop” and sanitizing data were among the AI deployment guardrails emphasized by top financial executives at an FEI conference last week.
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Cybersecurity rules vex financial sector CFOs
CFOs in the industry have faced an “an unprecedented tightening of cybersecurity oversight,” cybersecurity firm Omega Systems said.
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C-suite leaders break their own AI rules
Most business leaders are using unapproved tools regardless of compliance requirements, according to a Nitro report.
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Factory activity speeds up to fastest pace in a year: NY Fed
The manufacturing survey by the Federal Reserve Bank of New York, although volatile month-to-month, is widely viewed as a bellwether for U.S. manufacturing.
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Campfire CEO targets ‘systems-first’ accounting approach
An “AI-native” approach to accounting can help free finance professionals and accountants up for more strategic work, Campfire’s John Glasgow said.
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SEC faces IPO backlog, packed regulatory agenda after shutdown
The SEC’s Division of Corporation Finance, which reviews IPOs and other securities offerings, said it’s “working expeditiously” to clear a backlog of filings.
