CFOs can be valuable allies for CEOs as they lead companies through digital transformation. CFOs already have many important attributes, including visibility into organizational data and experience with capital allocation.
The Tax Court has held that it did not have jurisdiction under Sec. 6330(d)(1) to determine the amount and order the credit or refund of a taxpayer's overpayment when reviewing a Collection Due Process case.
Many recruiters expect the hiring process to become even more competitive in the coming 12 months, according to a Jobvite survey. Here is a look at several trends that might shape the hiring market, including a focus on the reputation of companies and job candidates.
Securities and Exchange Commission officials, including the chairman and chief accountant, stressed the importance of having a strong corporate control environment and robust internal controls at a recent event. Chairman Jay Clayton said the SEC is more likely to act when there is a cyberbreach at a company that doesn't have a strong tone or controls, noting that "if our sense is that the tone was good, we're much more sympathetic to remediation, resolving and going forward for the company."
Audit committees and the internal audit team are part of the shared responsibility of maintaining a healthy corporate culture, according to Cindy Fornelli, executive director of the Center for Audit Quality. Audit committees and boards should also think hard about what culture really means to the company, she says.
The Securities and Exchange Commission is weighing President Donald Trump's proposal to change the quarterly reporting system to a biannual one. SEC Chairman Jay Clayton said the president was right to raise the issue, and the agency's chief accountant, Wesley Bricker, said the SEC had been considering dispensing with quarterly financial reports for years.
Companies should not be complacent and should vigilantly monitor cyberattacks, natural hazards, and fires and explosions, says Tom Lawson, CEO of FM Global. Fire is the biggest cause of loss with its clients.
With a new slate of board members and a new chairman, the Public Company Accounting Oversight Board is planning extensive changes with its strategic plan. Areas of focus include improved quality in audit services, emerging technologies, enhanced transparency and the inspection process.