Mobile, Alabama-based shipbuilder Austal USA and its Australian-based parent company, Austal Limited, have agreed to a $24 million civil penalty to settle fraud charges by the Securities and Exchange Commission. The SEC alleged that, from at least January 2013 to July 2016, the Austal companies artificially reduced the estimated cost
Mike Lynch, the British tech tycoon missing after his luxury yacht sank off the coast of Sicily, had only recently fended off a U.S. criminal fraud case over the sale of his software company to Hewlett Packard Co. Lynch, 59, and his wife were aboard the yacht, named Bayesian after
As businesses navigate turbulent economic waters, CFOs face mounting challenges in their mission to manage costs, optimize resources and maintain financial resilience. These challenges are made even more urgent by a well-documented global shortage of talent across many industries, including an accounting talent shortage that’s been building for several years.
The shortage of accounting talent continues to plague the profession and appears to be getting worse. As the pipeline dries up, 83% of senior leaders report a talent shortage this year, up from 70% in 2022, with 10% this year saying it’s worsening, according to a CFO Pulse report released
The Financial Accounting Standards Board released a new chapter of its Conceptual Framework on the measurement of items recognized in financial statements, while also drawing that long-running project to a close Friday. The Conceptual Framework offers a set of interrelated objectives and fundamentals that provides FASB with a useful tool
By now, you will probably have heard that Barry Melancon, the longtime president and CEO of the American Institute of CPAs, will be retiring at the end of this year, after 30 years of leading the accounting profession through the greatest period of change and disruption it has ever known.
Brazilian Federal Police carried out their most extensive operation yet to punish those responsible for a massive fraud carried out at retailer Americanas SA with arrest and search warrants issued in Rio de Janeiro. While the police didn’t identify the two people targeted with detention, they were ex-chief executive officer
The Institute of Management Accountants held its annual conference this week in San Antonio, Texas, where it discussed ways to attract more people to join the profession. One of those ways is with new credentials. Earlier this year, the IMA launched a Financial and Managerial Accounting Associate certification. “It’s gotten
CFOs remain divided on the prospects for the economy and continue to see risks from inflation, cybersecurity, generative artificial intelligence and talent shortages, according to a new survey from Deloitte. The Big Four firm’s quarterly CFO Signals survey, found no clear majority expressing optimism or pessimism regarding their own companies’
Almost two-thirds (63%) of companies say they are confident they will be ready to report under the European Union’s new Corporate Sustainability Reporting Directive, but their optimism is stymied by several obstacles to implementation. PricewaterhouseCoopers’ 2024 Global CSRD Survey, released Thursday, surveyed more than 500 senior executives and business professionals.