Thu.Jul 25, 2024

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Detroit nonprofit sues ex-CFO over alleged $40M embezzlement

CFO Dive

The former finance chief breached his fiduciary duty and caused “enormous financial devastation,” according to the complaint.

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First Income Tax In GCC Approved By Oman’s Parliament

Global Finance

Oman is on course to become the first Gulf Cooperation Council (GCC) state to introduce a personal income tax as the sultanate ramps up efforts to boost revenue and diversify its economy away from hydrocarbons. The draft law, approved by Oman’s Parliament in July, has been sent to the State Council for final approval, a decision analysts say is highly anticipated.

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Trending Sources

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3 risky ‘surveillance pricing’ practices to avoid

CFO Dive

CFOs should be ready for potentially tougher enforcement actions connected to pricing practices in the future, says Michael Keeley, an attorney with law firm Axinn.

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The Philippines: New Samurai Bond Issue’s Political Backdrop

Global Finance

The Philippines is looking to Japan to partially finance its ballooning debt as Manila moves to strengthen ties between the two countries. The Department of Finance (DoF) says it is exploring issuing yen-denominated, or samurai bonds alongside or in place of conventional US-dollar bond issuance. Government debt has mushroomed in recent years, hitting 15.3 trillion pesos—around $264 billion in May—according to Bureau of the Treasury estimates.

Treasury 119
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Automation, Evolved: Your New Playbook For Smarter Knowledge Work

Speaker: Frank Taliano

Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.

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Flex appoints 20-year company alum as interim CFO

CFO Dive

Longtime company alum Jaime Martinez will step in as interim CFO as Flex looks to execute on a restructuring plan aimed at improving its operational efficiency.

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More Trending

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Budget 2024: CFOs laud measures for infrastructure, skills, sustainability and Viksit Bharat

CFO News

Finance Minister Nirmala Sitharaman's Budget 2024, as garnered widespread approval from CFOs for its focus on infrastructure, sustainability, MSMEs, inclusive growth, and the vision of Viksit Bharat.

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Kitces & Carl Ep 143: Taking Over Clients From An Advisor With A Different Personality And Communication Style

Nerd's Eye View

About a decade or so ago, one of the most pressing issues facing the financial advice industry was the threat of an imminent deluge of advisor retirements coupled with a paucity of succession plans to transition clients to the next generation. While that scenario has yet to materialize as initially feared, the fact remains that transitions do occur on a regular basis, often as older advisors either sell their practices in one fell swoop or gradually offload part of their book while still staying

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Budget 2024 gives push to GST simplification and transparency, say experts

CFO News

The Budget's CGST amendments aim to simplify compliance, enhance transparency, and foster a business-friendly environment, marking a significant refinement in India's GST framework, say tax experts.

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Why Modern Finance Teams Are Choosing Cloud FP&A Over Spreadsheets (hint: It's not just about saving time)

Lime Light

As a CFO, VP of Finance, or Controller at a mid-sized company, you're no stranger to the challenges of financial planning and analysis (FP&A). You likely rely on spreadsheets to manage budgets, forecasts, and reporting. After all, they're readily available, familiar, and seemingly cost-effective.

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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Cross-border instant payment market to rise 223% by 2028, research says

Future CFO

Cross-border instant payment market is expected to jump by 223% globally by 2028, resulting in a 29% share of all global instant payment transactions by 2028, according to a new study from Juniper Research. The change will be driven by the reduction in transaction friction, according to a press release, defining instant payments, or real-time payments, as any payment where funds can be received within 10 seconds.

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Maximizing Efficiency with SaaS Accounting Software for Manufacturing

CFO Plans

“`html SaaS Accounting Software for Manufacturing Businesses Maximizing Efficiency with SaaS Accounting Software for Manufacturing In today’s dynamic business landscape, manufacturing companies face a multitude of challenges in managing their financial operations efficiently. From navigating complex supply chains to adhering to evolving regulations, the demand for robust accounting solutions has never been higher.

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The Power Of Instant Payments And Data

Global Finance

Mark Monaco, head of Global Payments Solutions at Bank of America (BofA), explains the importance of payments, instant data and communication for effective treasury. Global Finance: Why bring Global Transaction Banking and Enterprise Payments together under the new name Global Payments Solutions? Mark Monaco: In July of last year, the bank combined GTB and EP, bringing all the payments activity within the bank under one roof.

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The Mentoring Round | Steve Vintz, CFO, Tenable

CFO Thought Leader

Inside The Mentoring Round, CFO Steve Vintz of Tenable shares key career insights, emphasizing his passion for growth companies and entrepreneurship. Early on, he realized the appeal of smaller, venture-backed companies over large corporations, leading him to a career focused on growth-oriented businesses. Vintz discusses a critical acquisition decision where he advocated against proceeding with a deal, highlighting the importance of discipline and listening to one’s intuition.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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Putting Customers First

Global Finance

FAB managing directors Gautam Dutta, head of GTB Cash Management Product Innovation, and Tariq Hoodbhoy, head of Treasury Advisory Services, explain how technology helps create an exceptional user experience. Global Finance: How are you improving the user experience utilizing application programming interfaces [APIs] and microservices architecture?

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Feasible & prudent to have three GST slabs: CBIC chief

CFO News

India's GST structure is set to move towards three tax rate slabs, according to CBIC chairman Sanjay Kumar Agarwal. The GST Council will finalize the plan in its next meeting. Customs duty overhaul is also planned, aiming for simplification and fewer disputes. The online gaming sector’s GST contribution is growing.

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The Power Of Instant Payments And Data

Global Finance

Mark Monaco, head of Global Payments Solutions at Bank of America (BofA), explains the importance of payments, instant data and communication for effective treasury. Global Finance: Why bring Global Transaction Banking and Enterprise Payments together under the new name Global Payments Solutions? Mark Monaco: In July of last year, the bank combined GTB and EP, bringing all the payments activity within the bank under one roof.

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Escorts Kubota to appeal INR 10.35 lakh GST penalty for clerical error in e-way bill

CFO News

The penalty confirmation was received on July 24, 2024. Escorts Kubota has expressed its intention to appeal against the order, citing the penalty as a result of an unintentional clerical mistake. The financial impact of this penalty is significant.

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Forecasting Failures Are Costly: Heres How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Putting Customers First

Global Finance

FAB managing directors Gautam Dutta, head of GTB Cash Management Product Innovation, and Tariq Hoodbhoy, head of Treasury Advisory Services, explain how technology helps create an exceptional user experience. Global Finance: How are you improving the user experience utilizing application programming interfaces [APIs] and microservices architecture?

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RBI issues draft liquidity coverage ratio norms

CFO News

LCR is a liquidity requirement for banks to maintain at all times a certain proportion of high-quality liquid assets (HQLA), including cash, reserves with central banks, and federal government bonds, which can easily be converted into cash.

Banking 40
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The IFSCA lens on the transition finance

CFO News

The GIFT-IFSCA is akin to the Hercules pillars serving as the gateway for India linking her to the global economy and the new hotspot for foreign investment. In furtherance of its efforts towards the challenging task of mobilizing climate finance (currently estimated to be USD 10 trillion) for achieving its net-zero goal by 2070, India seeks to establish Gift City as the global climate finance hub.

Finance 40
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Banks need to focus on their core business: Nirmala Sitharaman

CFO News

Finance Minister Nirmala Sitharaman in an interview with ET has emphasized that banks must refocus on their primary roles of mobilizing deposits and providing loans, especially amid concerns about slowing deposit growth. Sitharaman reiterated the need for banks to prioritize their core functions—mobilizing deposits and lending—while still being free to pursue other activities.

Banking 40
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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R