SEC takes climate rule criticism ‘very seriously’: top official

GOP lawmakers on Tuesday accused an SEC division director of undermining capitalism by pushing for a climate risk disclosure rule.

By Jim Tyson • July 18, 2023

Gensler sees companies with AI gaining clout over consumers

The SEC chief warned that the handful of companies leading AI innovation may come to dominate the market.

By Jim Tyson • July 17, 2023

SIFMA calls to slow CECL credit-losses project

The current expected credit losses accounting standard was aimed at fostering timelier reporting of deteriorated assets. It’s been controversial.

By Maura Webber Sadovi • July 17, 2023

CFOs warm to outsourcing

Hiring outside firms to fill more specialized roles can help reduce some of the responsibilities that are being heaped on finance chiefs’ shoulders. Outsourcing can also cut costs. 

By Grace Noto • July 17, 2023

Culture, ethics audits can prevent malfeasance: study

CFOs can help to champion internal auditors when it comes to assessments of company culture, which can help boost long-term performance.   

By Grace Noto • July 7, 2023

SEC charges former View CFO with negligence-based fraud

The SEC is seeking civil penalties against the smart window manufacturer’s former CFO, alleging he violated federal securities law.

By Grace Noto • July 5, 2023

Sustainability can boost bottom line: Brand Finance

Companies that fail to live up to consumers’ perceptions of their ESG performance put hundreds of millions in value at risk, according to Brand Finance.

By Jim Tyson • June 30, 2023

FASB tees up loan loss fix

The FASB is poised to tweak existing accounting standards which originally sought to address calls for timelier loss reporting after the 2008 financial crisis.

By Maura Webber Sadovi • June 29, 2023

CFO, others charged in $53M pandemic relief fraud scheme

The case is the largest one investigated by the Pandemic Response Accountability Committee Fraud Task Force, created in 2020 to root out COVID-19 pandemic relief fraud, DOJ said. 

By Alexei Alexis • June 29, 2023

Insufficient staff, outdated processes expose firms to risk: survey

Only 37% of surveyed respondents believe that their organizations have sufficient staffing to properly run compliance programs and internal controls, FloQast found in a recent survey.

By Elizabeth Flood • June 28, 2023

ESG standard setter releases global reporting rules

The global effort to harmonize rules for corporate sustainability reporting will now focus on rallying adoption of its voluntary standards in dozens of jurisdictions worldwide.

By Jim Tyson • June 27, 2023

SEC puts SolarWinds CFO on notice in cyberattack probe

The news underscores the growing legal exposure that CFOs have as they are increasingly expected to take on broader remits of responsibilities — including technology.

By Maura Webber Sadovi • June 26, 2023

Accountants need to advance ‘social agenda’: ACCA

The accounting profession should not delay in helping ensure a “just transition” and promoting social welfare, the ACCA said.

By Jim Tyson • June 23, 2023

COVID tax claims add to IRS backlog

While IRS return-processing backlogs persist, a report found evidence that the outlook is brightening when it comes to the responsiveness that CFOs and tax preparers can expect.

By Maura Webber Sadovi • June 23, 2023

SEC General Counsel defends climate risk disclosure rule

Republican lawmakers accused the SEC’s top attorney of stonewalling requests for information on the agency’s regulation and enforcement.

By Jim Tyson • June 22, 2023

Judge delays hearing on suits piling up against SVB, execs

Just over three months after SVB Financial Group was closed by regulators, at least four proposed class actions have been filed against the firm and its former top executives.

By Maura Webber Sadovi • June 21, 2023

CFO pleads guilty to $6M employment tax crime

The CFO willfully failed for several years to file required quarterly employment tax returns or pay taxes withheld from employees’ wages to the IRS, DOJ said.

By Alexei Alexis • June 14, 2023

IRS waives penalty tied to new 15% corporate minimum tax

Companies have an extra year to determine their liability under the complex minimum tax signed into law last year.

By Jim Tyson • June 8, 2023

California lawmaker weighs in on FASB crypto proposal

Sherman, a ranking member of the House Financial Services’ Subcommittee on Capital Markets, has sought to ban crypto — which he has called “an electronic pet rock.”  

By Maura Webber Sadovi • June 8, 2023

Crypto heavy hitters largely back FASB fair-value fix

The support that the proposed accounting change has drawn from many crypto companies contrasts with the history of tension between the young sector and regulators.  

By Maura Webber Sadovi • June 7, 2023

PCAOB aims to sharpen auditor focus on fraud

The U.S. audit watchdog said its newest proposal would speed notification of noncompliance, reducing ultimate costs to investors.

By Jim Tyson • June 7, 2023

Canadian regulators suspend ex-blockchain CEO, CFO

Robert Earle Dawson and David Malcolm Alexander were temporarily suspended for misrepresenting that their former company would retain just a small portion of funds raised. 

By Maura Webber Sadovi • June 6, 2023

GOP lawmakers tell Gensler not to bow to EU’s tough climate rules

The Biden administration aims to allow strict EU standards on climate risk to guide actions by U.S. companies, according to top Republican legislators.

By Jim Tyson • June 6, 2023

FASB tax disclosure plan draws fire

Some heated feedback elicited by the proposed new tax disclosure requirements suggests the road to consensus might still be rocky.

By Maura Webber Sadovi • June 1, 2023

Accessible tech advocate Haben Girma gets CFO audience

Girma, the first blind and deaf woman to graduate from Harvard, is set to speak at Gartner’s 2023 CFO & Finance Executive Conference.

By Alexei Alexis • May 30, 2023