Financial News and Analysis | CFO Dive
WEBArtificial intelligence may boost profit margins 2% over next five years: BofA. “Investors frequently overestimate the magnitude of tech disruption in the near term and underestimate it over the longer term,” Bank of America said. CFO Dive provides in-depth journalism and insight into the most impactful news and trends shaping the finance ...
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Auditors say accountant shortage ramps up work pressure: CAQ
WEBDec 6, 2023 — A shortage of accountants has intensified pressure and ramped up workloads for accounting teams at U.S. companies while hindering recruitment and retention, according to 78% of audit partners surveyed by the Center for Audit Quality. In an effort to overcome a talent shortage, about one in three companies are …
Truist pushes ambitious reorganization in $750M cost-cutting plan
WEBNov 6, 2023 — Truist announced its plan to realize $750 million in cost savings over 12 to 18 months during the Barclays Global Financial Services Conference in September. At the time, CEO Bill Rogers said the company would make “sizable reductions” to its workforce over the next three quarters centered around a restructuring that included consolidated ...
Opinion - CFO Dive
WEBAug 16, 2024 — Proposed PCAOB rule risks turning auditors into legal watchdogs. The NOCLAR proposal would impose on auditors greatly expanded responsibilities for identifying — or even preventing — noncompliance with a very wide range of laws, PwC’s Brian Croteau writes. Brian Croteau • April 25, 2024.
KPMG cuts about 1,900 more US jobs - CFO Dive
WEBJun 27, 2023 — New York-based KPMG U.S. is laying off about 1,950 employees — roughly 5% of its 39,000-person workforce — with cuts extending across all of its businesses, including tax, auditing, and advisory services, according to company spokesperson Russ Grote. The layoffs follow an earlier round in February in …
Long-term investor frees new Fender CFO to think bigger than exit
WEBJan 28, 2022 — The privately held company’s orders jumped 29% to $1 billion in 2021 from the year earlier, he said. Based on the 2x-3x revenue multiple that lifestyle brands trade at, that roughly pencils out to peg the company’s valuation at $2-$3 billion, he said. “The company has come a long way, he said, noting it was losing money on $40 million in ...
Citigroup’s Mason tops list of highest-paid bank CFOs
WEBSep 1, 2023 — Citigroup Inc. CFO Mark Mason was the highest-paid finance chief in the U.S. banking industry in 2022, with total adjusted compensation of approximately $15 million, according to an S&P Global Market study released Thursday. Mason, a 22-year veteran of the New York-based bank who has served as its …
Most companies increase spending on diversity training: survey
WEBMay 13, 2021 — Eighty-six percent of financial executives at companies in North America are expanding their budgets for training in diversity, equity and inclusion (DEI), according to a survey by OneStream Software. Seventy-seven percent of financial executives working in finance and 65% of those working in information technology are investing more in DEI ...
SaaS prices jump 12% on average: Vertice - CFO Dive
WEBAug 22, 2023 — SaaS prices increased 12% on average over the past 12 months, the report said. “This spike is very significant compared to previous years,” Joel Windels, vice president of global marketing at Vertice, told CFO Dive, adding that SaaS prices rose 6% on average in 2019, for example. “SaaS companies have traditionally relied on higher usage ...