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CFO Dive
Online Audio and Video Media
Washington, District of Columbia 8,142 followers
We provide business journalism and in-depth insight into the most impactful news and trends shaping finance
About us
CFO Dive provides in-depth journalism and insight into the most impactful news and trends shaping finance. The daily email newsletter and website cover topics such as strategy, operations, budget and cost analysis, forecasting and planning, compliance and more. CFO Dive is a leading industry publication operated by Industry Dive. Our business journalists spark ideas and shape agendas for 13+ million decision-makers in the most competitive industries.
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Updates
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Public companies are used to curating the information they share with the street, but in the age of AI, CFOs and other leaders need to prepare for an age of radical transparency. “CFOs should have a baseline understanding of their external image and how it aligns with their internal goals. If you don’t understand it, you’re kind of flying blind,” McKinsey & Company's Andy West told CFO Dive. #generativeai #publiccompanies #datastrategy https://lnkd.in/eiS99Riv
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Intel Corporation shareholders are asking for the disgorgement of “all profits, benefits, and other compensation” obtained by ex-CEO Pat Gelsinger, CFO and current co-interim CFO David Zinsner and other company leadership, arguing the leaders breached their fiduciary and contractual duties, according to a shareholder derivative lawsuit filed Tuesday. The suit alleges Gelsinger and Zinsner, alongside other company leadership, breached their fiduciary duties by issuing misleading disclosures and failing to accurately report financials related to the company’s foundry business. As such, they “exposed the Company to significant liability under various federal securities laws by their misconduct,” the suit argues. #seminconductors #federalsecuritieslaw #shareholderlawsuit https://lnkd.in/eT6vTz_8
Intel shareholders look to yank back ex-CEO, CFO compensation
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Businesses need to evaluate the potential impact of tariffs ahead of the incoming Trump administration, PwC partners said during a roundtable. With tariffs set to jump by as much as $1.2 trillion, companies need to examine changes to supply chains and cost structures, said Brett Cayot, U.S. principal of operations transformation said during a roundtable. “Frequently, the tariff increases are larger than the company’s current annual profits,” Cayot said. “These realizations are raising a lot of questions like ‘How can I change my supply base? Can I move manufacturing?’” #tariffs #supplychains #operations https://lnkd.in/eH6uZmuY
Tariffs could jump by $1.2 trillion annually: PwC
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Overall average audit fees for public companies rose 6.4% in 2023 to $3.01 million from a year earlier, according to a Financial Education & Research Foundation report based on both a survey and data from Securities and Exchange Commission filings of more than 4,000 organizations. Going forward, further fee increases are expected to stem from new regulatory changes on the horizon such as the Financial Accounting Standards Board’s new income statement expense rules, according to Andrej Suskavcevic, CAE, president and CEO of the Financial Executives International and Financial Education & Research Foundation. #accounting #auditors https://lnkd.in/gZp-VFfu
Audit fees poised to rise further after 6.4% hike in latest cycle, report says
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U.S. merger-and-acquisition activity remains on track to accelerate in 2025, despite signals from the Federal Reserve that it may slow the pace of trimming interest rates next year, a PwC analyst said. The Big Four accounting firm predicted in a recent report that M&A activity will speed up next year due to “declining interest rates, large amounts of dry powder, the need for business model reinvention and shifting regulatory priorities.” The Fed’s latest stance doesn’t “materially” impact that assessment, according to PwC U.S. Deals Clients and Markets Leader Liz Crego. #mergersandacquisitions https://lnkd.in/gtjmJj3Y
M&A outlook intact despite Fed’s interest rate shift: PwC analyst
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The Securities and Exchange Commission approved a 2025 budget of $399.7 million for the Public Company Accounting Oversight Board (PCAOB), as well as a related accounting support fee of $374.9 million, the regulator announced in a Wednesday press release. The budget approval for the watchdog — responsible for “auditing the auditors” and overseen by the SEC — comes as both agencies prepare for changes to come under the incoming presidential administration of President-elect Donald Trump. Last month current SEC Chairman Gary Gensler announced he would step down from his role on Jan. 20, with Trump nominating crypto lobbyist and former SEC commissioner Paul Atkins to fill the seat. #PCAOB #accounting https://lnkd.in/eRub2vmQ
Gensler stresses PCAOB’s importance following $400M budget approval
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Corporate finance chiefs globally are scrambling to hire new artificial intelligence talent as they face growing pressure to leverage the technology in their operations, according to survey results published by finance software vendor Taulia, a subsidiary of SAP. Nearly half (45%) of finance leaders polled said they were looking to bring new personnel with AI expertise into their teams, Taulia said in its recent report, adding that competition for such talent is intense. “Because interest in AI is rising across the board both inside and outside their organizations, CFOs are finding it tough to source the talent they need to meet their AI ambitions, and this problem is likely to get worse,” the report said. “It is therefore essential they have an overarching functional strategy to identify, acquire and develop AI skills.” #AI https://lnkd.in/e2hB7Ghz
CFOs scramble for new AI talent amid fierce competition, report says
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Stripe CFO Steffan Tomlinson has been appointed to the board of directors for AI start-up Vercel. Tomlinson’s appointment comes as the San Francisco, California-based Vercel — which provides cloud infrastructure and other tools for software developers — looks to continue building out its technology suite following the close of a $250 million Series E funding round in May, giving it a valuation of $3.25 billion, according to a company announcement at the time. “Steffan’s financial expertise and leadership experience come at a pivotal moment for Vercel as we scale our enterprise presence and build on our momentum,” Vercel CFO Marten Abrahamsen said in a statement sent to CFO Dive. “I’m excited to welcome Steffan to Vercel’s Board of Directors as we accelerate Vercel’s growth journey.” #CFO #AI https://lnkd.in/g-tUu5cH
Stripe CFO joins board of $3B AI start-up Vercel
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The Federal Reserve Board trimmed the main interest rate by a quarter percentage point Wednesday in its third straight reduction since September, while indicating that it may slow the pace of easing in 2025 compared with its prior projection. Policymakers cut the federal funds rate to a range between 4.25% and 4.5% after weighing signs of a cooling labor market against data showing robust retail sales, strong economic growth and persistent inflation. In a median forecast, Fed officials estimated that they would reduce the main rate to 3.9% by the end of next year, a half percentage point higher than their September forecast. #Fed #interestrates https://lnkd.in/evbYk7bV
Fed trims main interest rate, signals prospect of less easing in 2025
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