Financial News and Analysis | CFO Dive
WEBApple taps insider to succeed longtime CFO Luca Maestri. The Cupertino, California-based tech giant said Kevan Parekh — its VP of financial planning and analysis — would become CFO as part of a “planned succession.”. CFO Dive provides in-depth journalism and insight into the most impactful news and trends shaping the finance industry.
Bolstering the CFO-CRO relationship to ensure AI investment returns
WEBAug 13, 2024 · Mark Khavkin is the CFO of cloud storage company MinIO, based in Redwood City, California. Views are the author’s own. Companies face rising pressure to show a r eturn on investment when it comes to artificial intelligence software spending, which is projected by Gartner to surge to $297.9 billion by …
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.
Regional bank execs push back on CRE risk fears | CFO Dive
WEBMar 8, 2024 · The $222 billion-asset bank allocated 10.2% of its office portfolio as a loan loss reserve, a set-aside amount for a worst-case situation, according to Richard Stein, Citizens chief risk officer. “That’s a scenario that looks like the great financial crisis,” said Stein. “You just have to understand that general office is going to be a ...
Microsoft rolls out Copilot AI tool to finance teams - CFO Dive
WEBFeb 29, 2024 · For every $1 companies invest in AI, they are realizing an average of $3.50 in return, according to a 2023 study conducted by research firm IDC and sponsored by Microsoft, as previously reported by CFO Dive. Generative AI in particular could enable automation of up to 70% of business activities across almost all …
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 …
FASB backs off bigger software accounting revamp | CFO Dive
WEBMar 21, 2024 · Dive Brief: The Financial Accounting Standards Board on Wednesday backed away from pursuing a more substantial revamp of its existing accounting standards that would have created a single model to account for software, instead voting to keep the current optionality and to pursue a more incremental, “targeted” approach to …
Citigroup is actively investing to improve automation, says CFO
WEBJul 18, 2022 · Citigroup’s technology spend shot up 14% this quarter as the bank continues its “transformation” plans, moving forward with several key initiatives designed to bolster automation, improve its data governance and organization and make capital planning more agile, CFO Mark Mason said July 15, during the bank’s second quarter earnings call.
Pitney Bowes CFO exit brings more C-suite churn - CFO Dive
WEBMar 19, 2024 · Chadwick’s departure adds more leadership churn at the top of the more than one-century old company that has sought to expand beyond its postage meter roots into shipping and e-commerce services. A former GE Capital exec, Chadwick joined Pitney Bowes in 2021. In a 2022 interview, she told CFO …
FASB targets new cash flow statement rules for banks
WEBNov 13, 2023 · Dive Brief: The Financial Accounting Standards Board is adding a project to its high-priority technical agenda that is poised to set new accounting requirements for how banks must report their statements of cash flow.; The proposed changes to standards that underpin Generally Accepted Accounting Principles would include a requirement that would make banks disclose cash interest received on the ...