Regulation & Compliance
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Audit Quality Questioned at Baruch Conference
One board member said audit firms need to change their cultures to drive the behaviors that would ensure the “consistent execution of high-quality audits.”
By Vincent Ryan • Dec. 1, 2023 -
Retrieved from OCC.
First OCC Fintech Chief Had Phony Resume: Reports
Prashant Bhardwaj alleged he held positions at Huntington and Fifth Third — and at Citi at a time when he would have been 13, according to a resume The Information obtained through FOIA.
By Gabrielle Saulsbery • Nov. 30, 2023 -
NYU’s Stern Center for Business and Human Rights Calls for ESG Ratings System Overhaul
Environmental, social and governance investing should center on companies’ impacts on the environment and society rather than shareholder profit, the report argues.
By Lamar Johnson • Nov. 28, 2023 -
Audit Fees Rose Nearly 5% in 2022: Weekly Stat
Inflation drove up fees, but so did the increasing effort required to perform and support a high-quality audit.
By Vincent Ryan • Nov. 15, 2023 -
SEC Accountants Highlight This Year’s Compliance Struggles
Staff at the SEC’s Office of the Chief Accountant give filers a heads-up on the accounting obstacles for which preparers and companies seek advice.
By Vincent Ryan • Nov. 14, 2023 -
Who’s Most Affected by NLRB’s Joint Employer Final Rule?
The labor board “is unleashing a storm” that could spread to multiple industries.
By Ryan Golden • Oct. 31, 2023 -
What New Disclosure Rule?
The new U.S. “beneficial ownership” rule will impact 32.6 million reporting companies in 2024 alone.
By David McCann • Oct. 31, 2023 -
Will New DOJ Safe Harbor Coax Acquirers to Report Seller’s Misconduct?
Even with a safe harbor, the decision to self-disclose criminal actions at a newly acquired company won’t be easy to make.
By Vincent Ryan • Oct. 10, 2023 -
A Fistful of Fraud: The SEC Closes Out FY 2023 With 20 Lawsuits
Among the lawsuits filed, former Pareteum CFO Edward O’Donnell was sued for revenue recognition violations.
By Vincent Ryan • Oct. 3, 2023 -
Opinion
The Corporate Transparency Act: Shedding Light On a Stealth Statute
Here is a high-level summary of the CTA and its requirements.
By Robert B. Lamm • Sept. 28, 2023 -
FASB Income Tax Disclosure Compliance Won’t Be An Easy Lift
“I think it is fair to say that this is a significant chapter in greater tax transparency,” said Brett Weaver, partner and ESG tax leader at KPMG.
By Vincent Ryan • Sept. 7, 2023 -
Business Interruption Policy Holders Lose Court Fights
The insurance industry has declared pandemics uninsurable events — beyond the financial wherewithal of the private market.
By Vincent Ryan • Aug. 31, 2023 -
Navigating ESG: Strengthening Governance for Long-Term Success
Developing an effective governance infrastructure is the foundation of ESG success.
By Mallory Thomas • Aug. 29, 2023 -
DOJ, FTC Deliver 1-2 Punch Against Interlocking Directorates
“Competitors sharing officers or directors further concentrates power and creates the opportunity to exchange competitively sensitive information and facilitate coordination,” said U.S. Assistant Attorney General Jonathan Kanter.
By Robert Freedman • Aug. 18, 2023 -
Securities Class Action Filings Rose 23% Vs. Prior Six Months
Cryptocurrency class-action suits are highest among all securities filings in the first half of 2023, followed by SPAC filings.
By Andy Burt • Aug. 15, 2023 -
ESG’s Biggest Miss: Supply Chain Visibility
“Today, brands must adhere to ever-changing regulations even as they face intense scrutiny from consumers and influencers ... CFOs must now prioritize risk assessment and mitigation like never before,” Edward Hertzman said.
By Adam Zaki • Aug. 11, 2023 -
Judging Materiality Most Difficult Part of Cybersecurity Incident Disclosure
“The key driver for regulators remains the undeniable fact that cyber events can have demonstrably material effects on major companies throughout the economy,” said Jamie Gerber, CFO of SimSpace.
By Vincent Ryan • Aug. 1, 2023 -
PCAOB Inspections Find 40% of Audits With Deficiencies
“These findings are absolutely unacceptable, and audit firms must make changes to turn things around and live up to their responsibility to investors,” said PCAOB Chair Erica Y. Williams.
By Vincent Ryan • July 26, 2023 -
DOJ, FTC Detail Tougher Stance on Anticompetitive Mergers
The agencies released a draft of new merger review guidelines designed to “protect competition” in the modern economy.
By Vincent Ryan • July 20, 2023 -
Sustainability Still Extrinsic to Many Companies’ Cultures
Only 13% of companies surveyed by The Conference Board have deeply embedded sustainability into their cultures.
By Vincent Ryan • July 13, 2023 -
Only 25% of CFOs Are Prepping for AI Management and Ethics Regulations: Weekly Stat
Finance leaders have been discussing the impact artificial intelligence (AI) will have on the future of work for nearly all of 2023. While the conversations around AI and its impact on corporate finance dominated the narrative at recent finance events, few CFOs are preparing for government oversi...
By CFO Editorial Staff • June 21, 2023 -
89% of Executives Want Change On Their Board: Weekly Stat
As the history of business has shown, the relationship between a company's executives and board members can be crucial, especially in instances of poor company performance or when questions of the legality or morality of company decisions come under scrutiny. Executives, especially CFOs, can have...
By Adam Zaki • June 14, 2023 -
Opinion
6 Steps for CFOs to Minimize Organizational Risk
In the past year alone, the world of business has been impacted by geopolitical tensions, supply chain disruption, inflation, changing fiscal policies and regulations, and intensifying natural disasters. A lingering pandemic has also stress-tested the risk management processes of global organizat...
By Ashok (Ash) Noah • April 18, 2023 -
62% of Finance Leaders Say Tax and Compliance Is an Increasing Priority: Weekly Stat
CFOs are continuing to address company technology needs, while balancing those needs against tightening budgets, talent issues, and the financial systems that have been impacted by recent events.In payments service provider Stripe’s 2023 Insight Report, 62% of surveyed finance leaders said tax an...
By Adam Zaki • March 29, 2023 -
28% of CFOs Plan to Diversify Deposits Across Banks
After recent bank failures, many financial leaders started to reassess the institutions they choose to source funding and provide financial services. Although some financial leaders call recent bank collapses "just a blip," the benefits of operating across various financial institutions are now i...
By Adam Zaki • March 22, 2023