Compliance: Page 25
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Remote workers complicate CFOs' state sales tax compliance
It takes just a single employee to create physical nexus in a state that would otherwise not generate a collection and remittance obligation.
By Robert Freedman • Sept. 8, 2021 -
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Biden plan to close 'tax gap' overstates payoff: CBO estimate
CBO analysis suggests the Biden administration may be exaggerating the gains from its plan to boost the IRS budget to thwart corporate and individual tax cheats.
By Jim Tyson • Sept. 7, 2021 -
Explore the Trendline➔
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TrendlineTop 5 stories from CFO Dive
The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.
By CFO Dive staff -
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SEC fines Kraft Heinz $62M, says procurement misled finance team
The company's controller group was misled into booking immediate savings instead of spacing them out over future years, the Securities and Exchange Commission says.
By Robert Freedman • Sept. 3, 2021 -
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SPAC IPOs plunged 87% during Q2 amid tougher SEC scrutiny
The SPAC market falters as regulators raise concerns about spotty disclosures and weak investor protections. New litigation has also raised questions.
By Jim Tyson • Sept. 2, 2021 -
Screengrab/CFO Dive, data from SEC
HeadSpin CEO resisted hiring CFO while inflating ARR, SEC says
Manish Lachwani dictated company financials to its bookkeeper and manipulated invoices and other documents to support fabricated numbers, the Securities and Exchange Commission alleges.
By Robert Freedman • Sept. 2, 2021 -
Foreign investors can complicate capital raises
Even companies without obvious ties to national security can get snagged by a little-known regulator.
By Robert Freedman • Sept. 1, 2021 -
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Senate Democrats push for overhaul of Trump global tax framework
Top Democrats on the Senate Finance Committee aim to increase taxes on U.S. companies abroad with legislation that business groups say would undermine U.S. competitiveness.
By Jim Tyson • Aug. 30, 2021 -
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Manufacturing CFO sentenced to 2 years for wire fraud
During six years as CFO of Chemstar Products, Gregg Johnson stole approximately $930,000 in company funds by issuing checks from the company’s bank accounts to cover personal expenses, including credit card and mortgage payments and his children’s college tuition.
By Jane Thier • Aug. 27, 2021 -
Healthcare company and its finance officers fined for misleading accounting
The company didn’t properly account for legal contingencies, inflating its earnings, the Securities and Exchange Commission said.
By Robert Freedman • Aug. 24, 2021 -
Photo by Alexander Suhorucov from Pexels
Most CFOs pushing internal diversity programs: PwC
Financial executives are rethinking their companies’ role in society, with 60% of them planning to advance internal programs to increase diversity, according to a PwC survey.
By Jim Tyson • Aug. 23, 2021 -
Win McNamee via Getty Images
Biden plan would increase taxes on less than 3% of small businesses: Treasury
Most small businesses would not face higher taxes under Biden’s spending proposal, the White House said, citing Treasury analysis in response to Republican criticism.
By Jim Tyson • Aug. 20, 2021 -
Group illegally traded on Netflix subscriber growth, SEC charges
An insider ring is said to have made stock bets on confidential KPI data before it was released in quarterly reports.
By Robert Freedman • Aug. 19, 2021 -
Alex Wong via Getty Images
SEC challenged in court over Nasdaq rule requiring board diversity
Affirmative action opponents in a court filing call the Nasdaq board diversity mandate “contrary to law, arbitrary and unconstitutional.”
By Jim Tyson • Aug. 19, 2021 -
Exec hit with insider trading after buying rival stock
A biopharma executive, after learning of plans for his company's acquisition by an industry giant, bought stock in a rival, which he suspected would get a valuation bump from the news.
By Robert Freedman • Aug. 18, 2021 -
Photo by Alexander Suhorucov from Pexels
SEC backs Nasdaq diversity rule over political opposition
The Nasdaq rule seeks to expand race and gender diversity on corporate boards but is met with resistance from Republican senators.
By Jim Tyson • Aug. 9, 2021 -
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Shareholder support surges for action on climate change: EY
Investors back proposals for change in corporate environmental and social policies, an EY study found.
By Jim Tyson • Aug. 6, 2021 -
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Companies oppose one-size-fits-all SEC climate disclosure rule: survey
The SEC should scale its coming rules for climate risk disclosure based on a company’s size, according to companies surveyed by the U.S. Chamber of Commerce.
By Jim Tyson • Aug. 5, 2021 -
Carol Highsmith. (2005). "Apex Bldg." [Photo]. Retrieved from Wikimedia Commons.
FTC unable to keep up with 'surge' in merger filings
The Federal Trade Commission said it “has been hit by a tidal wave of merger filings” and can’t complete reviews within the statutory period.
By Jim Tyson • Aug. 4, 2021 -
Joe Raedle via Getty Images
Former trucking giant CFO convicted of fraud
Peter Armbruster manipulated Roadrunner’s books to make company performance look better than it was.
By Robert Freedman • Aug. 3, 2021 -
David McNew via Getty Images
Sustainable bond issuance will surge this year to record exceeding $850B
The volume of sustainable bonds issued will grow 59%, fueled by investor enthusiasm and increased regulatory clarity, Moody’s Investor Service said.
By Jim Tyson • Aug. 2, 2021 -
Almost 90% of SPACs have had to restate financials
Concerns by the Securities and Exchange Commission over the accounting of warrants spurred a compliance rush, both by operating companies and SPAC sponsors.
By Robert Freedman • Aug. 2, 2021 -
CFOs called key to setting comparables in SPAC warrant valuations
The goal is to find comparables that accurately reflect the lowest possible volatility level of the target company’s warranty valuation.
By Robert Freedman • July 30, 2021 -
Alex Wong via Getty Images
SEC may require climate risk disclosures in expanded 10-Ks: Gensler
SEC Chair Gary Gensler says a company, when filing mandatory climate risk disclosures, may need to measure carbon emissions across its “value chain.”
By Jim Tyson • July 28, 2021 -
Chip Somodevilla via Getty Images
Global regulators unite to intensify scrutiny of SPACs
A group of securities market regulators from several countries launched a joint network to monitor SPAC deal-making.
By Jim Tyson • July 27, 2021 -
Loan performance could worsen under new lease accounting standards
For executives whose pay is tied in part to company performance, debt troubles from the reporting changes could impact compensation.
By Ed McCarthy • July 26, 2021
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