Accounts payable shouldn’t be a cost center

CFOs are under growing pressure to drive efficiencies at zero cost. Leveraging intelligent automation to process invoices can help, Steven Cronin writes.

By Steven Cronin • May 26, 2023

ChatGPT aces CPA exam after prior version flunked

ChatGPT-3.5 took the CPA exam and got an “F.” The newest version of the AI learned from the failure, however, and nailed the test, researchers said.

By Jim Tyson • May 25, 2023

SEC enforcement not ‘a game of gotcha,’ Grewal says

The SEC will press on with aggressive enforcement while seeking to collaborate with companies under scrutiny, the agency’s enforcement director said.   

By Jim Tyson • May 23, 2023

Investors oppose using ESG criteria in retirement funds: Gallup

U.S. companies face intense pressure to embrace sustainability even as many Americans do not want ESG goals to guide the investment of their retirement money.

By Jim Tyson • May 22, 2023

Ex-fabric CFO accused of losing $35M in crypto crash

The former CFO is charged with investing the funds without permission into his own crypto venture before losing them during the market’s crash, according to a federal indictment.

By Grace Noto • May 18, 2023

SEC fines 10 microcaps for flawed stock offerings

The SEC sanctioned small companies that failed to follow rules under Regulation A, which offers early-stage businesses a low-cost way to raise capital.

By Jim Tyson • May 16, 2023

U.S. Chamber sues SEC, slamming buyback rule

An effort to block rules on stock repurchases is the latest pushback by business groups against an unusually active regulatory agenda at the SEC.

By Jim Tyson • May 15, 2023

Retailers lag, energy firms lead in environmental disclosures: Fitch

Standards for gauging sustainability are gelling amid a backlash against government plans to require corporate disclosure on climate risk.

By Jim Tyson • May 12, 2023

FASB’s tax proposal will ‘change the game’

Previous FASB calls for greater income tax transparency have drawn pushback from businesses. This time the initiative appears to be gaining steam.

By Maura Webber Sadovi • May 12, 2023

FASB moves to tweak carried interest accounting

The FASB’s proposed changes to accounting guidance on so-called carried interest isn’t likely to make the same kind of waves that proposed changes to related tax rules caused.

By Maura Webber Sadovi • May 11, 2023

PwC, KPMG China audits are flawed: PCAOB

The PCAOB findings follow U.S. success in overcoming opposition from Beijing to the inspection of audits of China-based companies listed on U.S. stock exchanges.

By Jim Tyson • May 11, 2023

RS Group CFO resigns over relationship with colleague

A month following a C-suite shakeup, RS Group’s CFO is resigning due to a relationship with an employee.

By Elizabeth Flood • May 3, 2023

Audit partners suffer after writing critical ICOs: study

Audit firms face a conflict between sustaining income from client fees and their legal obligation to identify weaknesses in a client’s internal controls, researchers said.

By Jim Tyson • April 28, 2023

AI to help with ‘day two’ lease accounting

With the FASB issuing updated guidance, the proper use of AI will be key for growth.

By Elizabeth Flood • April 27, 2023

ESG reporting standard setter extends reach

The global effort to harmonize rules for corporate sustainability reporting is gaining momentum and expanding beyond concerns about climate change.

By Jim Tyson • April 21, 2023

Research, interest deduction changes bedevil tax filers

Two provisions of the 2017 Tax Cuts and Jobs Act that went into effect last year are still catching some finance leaders off guard.

By Maura Webber Sadovi • April 21, 2023

PCAOB flags widespread weaknesses in audits of SPACs

The criticism of SPAC audits follows a surge in restatements by the so-called blank-check companies.

By Jim Tyson • April 20, 2023

Ex-Trump CFO is released from jail

Allen Weisselberg — the Trump Organization’s former finance chief — was released after this week serving about 100 days in a New York City prison. But more legal pressure looms.

By Maura Webber Sadovi • April 20, 2023

Werfel requests 15% IRS funding hike to uncover tax cheats

The IRS streamlined taxpayer services during the current tax season but needs a budget increase for the coming fiscal year to sustain improvements, the agency’s commissioner said.

By Jim Tyson • April 19, 2023

3 CFOs talk shifting ESG headwinds

The nuanced picture that three CFOs painted Tuesday of the business case for ESG sharply contrasted with the backlash that has roiled the public debate recently.

By Maura Webber Sadovi • April 19, 2023

Betterment agrees to pay $9M in SEC settlement

The settlement resolves charges that investment advisor Betterment made misstatements related to its automated tax loss harvesting service, among other violations.

By Alexei Alexis • April 19, 2023

SEC ‘not a climate policy agency,’ Gensler says

SEC Chair Gary Gensler came under fire from Republican lawmakers for pushing forward with a climate disclosure rule that they said would overstep agency authority and prove too costly for U.S. companies. 

By Jim Tyson • April 18, 2023

Zepto names CoinSwitch alum as CFO ahead of IPO

The India-based grocery delivery service hired Ramesh Bafna as its next CFO. The company plans to go public in the next two years.

By Elizabeth Flood • April 17, 2023

Why CFOs eyeing IPOs must prep now

While many companies have put public listing plans on pause, CFOs would be wise to get ready now for when the IPO window reopens, Nick Theos writes. 

By Nick Theos • April 14, 2023

CFOs need public/private funding mix to bridge ESG financing gaps

Finance leaders need access to multiple types of capital to finance their companies’ environmental, social, and governance goals, Ana Carolina Oliveira writes. 

By Ana Carolina Oliveira • April 13, 2023