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Ex-NJ law firm CFO sentenced to five years for $.5M embezzlement scheme McElroy Deutsch Mulvaney & Carpenter LLP
29/07/2024

Ex-NJ law firm CFO sentenced to five years for $.5M embezzlement scheme McElroy Deutsch Mulvaney & Carpenter LLP

The former finance chief is required to pay $1.5 million as restitution to his former employer, the NJ AG’s office said.

Election turmoil ratchets up CFOs' geopolitical risks Tego Cyber Inc EY West Monroe
29/07/2024

Election turmoil ratchets up CFOs' geopolitical risks Tego Cyber Inc EY West Monroe

Finance leaders’ agility is facing a fresh test as they consider potential impacts of the recent shakeup in the U.S. presidential election.

3 risky 'surveillance pricing' practices to avoid
26/07/2024

3 risky 'surveillance pricing' practices to avoid

CFOs should be ready for potentially tougher enforcement actions connected to pricing practices in the future, says Michael Keeley, an attorney with law firm Axinn, Veltrop & Harkrider.

Deep Dive: 7 CFO tips for yielding high ROI during the rush into generative AI Eventus Advisory Group EY-Parthen...
26/07/2024

Deep Dive: 7 CFO tips for yielding high ROI during the rush into generative AI Eventus Advisory Group EY-Parthenon

Financial executives willing to chance big spending on generative AI can take steps to reduce risk and seize the payoffs.

Detroit nonprofit sues ex-CFO over alleged $40M embezzlement
25/07/2024

Detroit nonprofit sues ex-CFO over alleged $40M embezzlement

The former finance chief breached his fiduciary duty and caused “enormous financial devastation,” according to the complaint.

3 risky ‘surveillance pricing’ practices to avoid
25/07/2024

3 risky ‘surveillance pricing’ practices to avoid

CFOs should be ready for potentially tougher enforcement actions connected to pricing practices in the future, says Michael Keeley, an attorney with law firm Axinn.

Flex appoints 20-year company alum as interim CFO
25/07/2024

Flex appoints 20-year company alum as interim CFO

Longtime company alum Jaime Martinez will step in as interim CFO as Flex looks to execute on a restructuring plan aimed at improving its operational efficiency.

Alphabet investors get mixed news from departing CFO Ruth Porat
24/07/2024

Alphabet investors get mixed news from departing CFO Ruth Porat

The tech giant’s shares sank after Porat’s mixed comments about the company’s operating margin outlook.

KKR-backed OneStream sees $4.6B valuation following $490M IPO
24/07/2024

KKR-backed OneStream sees $4.6B valuation following $490M IPO

The company will continue to invest in machine learning, AI and new products such as demand forecasting tools following its $490 million IPO, CFO Bill Koefoed said.

Estee Lauder controller lands CFO seat amid restructuring
24/07/2024

Estee Lauder controller lands CFO seat amid restructuring

Akhil Shrivastava, a nine-year company veteran, understands “the levers the company can pull to revive growth,” Morningstar analyst Dan Su writes. 

Spotify profit jumps amid 'early days' of price increases
23/07/2024

Spotify profit jumps amid 'early days' of price increases

Interim CFO Ben Kung said the music streamer is “encouraged” by the initial consumer reaction to the company's recent price hikes.

CFOs face 'threefold challenge' with GenAI spending, PairSoft CEO says
23/07/2024

CFOs face 'threefold challenge' with GenAI spending, PairSoft CEO says

As finance chiefs look to upgrade legacy finance functions, GenAI is emerging as a promising technology — but first, CFOs need to identify a clear use case.

'Friendly fraud' persists under the radar Unit21
23/07/2024

'Friendly fraud' persists under the radar Unit21

Fraud committed by customers threatens companies’ bottom lines and often goes unreported, experts say.

Judge deals major blow to U.S. Securities and Exchange Commission's cybersecurity enforcement stance
23/07/2024

Judge deals major blow to U.S. Securities and Exchange Commission's cybersecurity enforcement stance

“The decision substantially limits the SEC’s authority to challenge a company’s cybersecurity program,” attorney Mark Schonfeld said.

Many CFOs still in early phase of digital transformation: McKinsey & Company
23/07/2024

Many CFOs still in early phase of digital transformation: McKinsey & Company

Finance teams are grappling with roadblocks such as demanding workloads, a lack of relevant capabilities and insufficient resources.

Pulte Group promotes insider to fill retiring CFO's seat
22/07/2024

Pulte Group promotes insider to fill retiring CFO's seat

Jim Ossowski will take the home builder’s finance reins in 2025 as Pulte looks to build on its record first-quarter home sale revenues.

OPINION: Finance leaders need to move quickly to prep for the 'tax trifecta'
19/07/2024

OPINION: Finance leaders need to move quickly to prep for the 'tax trifecta'

U.S. businesses must begin scenario planning ahead of the presidential election to avoid being caught off guard by sudden shifts in tax policy, KPMG’s Rema Serafi writes.

Ex-Trump CFO Weisselberg released from second jail stint
19/07/2024

Ex-Trump CFO Weisselberg released from second jail stint

The former CFO was released from prison Friday after pleading guilty to charges of felony perjury related to testimony given in ex-president Trump’s $464 million civil fraud trial.  

Deep Dive: 'Surge Moment': Generative AI upends time-tested measurements of ROI Eventus Advisory Group EY-Parthe...
19/07/2024

Deep Dive: 'Surge Moment': Generative AI upends time-tested measurements of ROI Eventus Advisory Group EY-Parthenon

CFOs gauging the return on investment from generative artificial intelligence are trying to map fuzzy terrain, according to financial executives and AI experts.

FASB answers Big Four convertible debt ask
18/07/2024

FASB answers Big Four convertible debt ask

The fix comes after PwC, Deloitte, KPMG and EY requested clarity on rules related to convertible debt instruments that have seen a surge in demand. 

Incoming QXO CFO’s comp package includes $3M signing bonus
18/07/2024

Incoming QXO CFO’s comp package includes $3M signing bonus

M&A “heavy hitter” Ihsan Essaid could rake in a $1.6 million base salary should the product distribution company hit future annualized revenue run rate goals, according to a company filing.  

‘Say-on-pay’ proxy support rises despite concerns about PSUs: EY
17/07/2024

‘Say-on-pay’ proxy support rises despite concerns about PSUs: EY

The number of investor activist campaigns this proxy season rose to 691, a 2.4% increase compared with 2023, according to EY.

High interest rates dampen hopes for robust M&A recovery &A
17/07/2024

High interest rates dampen hopes for robust M&A recovery
&A

While M&A activity is gaining momentum, dealmakers continue to face a mixed macroeconomic environment, Boston Consulting Group analysts said. 

SEC rule jumpstarts Corpay CAO’s ESG push
16/07/2024

SEC rule jumpstarts Corpay CAO’s ESG push

The climate disclosure rule’s March passage helped push the payments player to double down on its ESG reporting strategy, Chief Accounting Officer Alissa Vickery said.

CFOs plan to raise salaries 3.9% in 2025: WTW
16/07/2024

CFOs plan to raise salaries 3.9% in 2025: WTW

U.S. companies are trimming salary increases as the labor market loosens, recovering from a pandemic period of high resignations, job hopping and wage gains.

AI budgets poised to surge in 2025
16/07/2024

AI budgets poised to surge in 2025

While AI investments are expanding, many companies are failing to invest in infrastructure necessary to optimize the technology, EY found.

Latest AT&T data breach risks customer defections: Moody’s
16/07/2024

Latest AT&T data breach risks customer defections: Moody’s

The incident comes as AT&T is already facing a number of class action suits stemming from a separate breach that was disclosed in March.

5 takeaways on costs, challenges of climate disclosure compliance
15/07/2024

5 takeaways on costs, challenges of climate disclosure compliance

Complacency regarding the SEC’s now-stayed rules could leave companies “scrambling to try to get ready” once they are put in place, PwC’s Marc Siegel said.

Powell says data lift Fed confidence inflation cooling toward 2% goal
15/07/2024

Powell says data lift Fed confidence inflation cooling toward 2% goal

Federal Reserve Chair Jerome Powell welcomed recent inflation data, including a report that the core consumer price index rose last month at the slowest pace since early 2021.

BofA tackles digital banking’s transaction pain points
12/07/2024

BofA tackles digital banking’s transaction pain points

The latest CashPro platform update is designed to better address transaction-related inquiries — one of the top reasons business customers call and email the bank.

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