Wed.Aug 28, 2024

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Why Held-Away Asset Management Technology Is Being Scrutinized By State Regulators (And How Advisors Can Compliantly Manage Clients’ 401(k) Assets)

Nerd's Eye View

Historically, advisors haven't had many avenues to manage clients' 401(k) plan accounts, since unlike traditional custodial investment accounts, advisors generally lack discretionary trading authority in employer-sponsored retirement plans. Which wasn't necessarily a big issue back when most clients hired advisors after they had already retired and were able to roll over their employer plans into an IRA managed by the advisor; but as advisors have increasingly taken on working-age clients (and t

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Super Micro delays 10-K filing to assess internal controls

CFO Dive

The AI server maker delayed its 10-K as experts partly blame a recent spike in tardy annual reports on the accounting talent shortage and increased regulation.

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Beat your Bot: Building your moat against AI

Musings on Markets

It seems like a lifetime has passed since artificial intelligence (AI) became the market's biggest mover, but Open AI introduced the world to ChatGPT on November 30, 2022. While ChatGPT itself represented a low-tech variation of AI, it opened the door to AI not only as a business driver, but one that had the potential to change the way we work and live.

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SEC charges Navy shipbuilder Austal with accounting fraud

CFO Dive

Austal understated an accounting metric known as “estimate at completion” for the construction of Littoral Combat Ships, according to SEC allegations.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Why Regulators Are Questioning The Use Of Held-Away Asset Management Technology (And What Advisors Can Do About It)

Nerd's Eye View

Historically, advisors haven't had many avenues to manage clients' 401(k) plan accounts, since unlike traditional custodial investment accounts, advisors generally lack discretionary trading authority in employer-sponsored retirement plans. Which wasn't necessarily a big issue back when most clients hired advisors after they had already retired and were able to roll over their employer plans into an IRA managed by the advisor; but as advisors have increasingly taken on working-age clients (and t

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Navigating South Africa’s Reporting Maze: What Every CFO Needs to Know

CFO Talks

Navigating South Africa’s Reporting Maze: What Every CFO Needs to Know Navigating the complex landscape of regulatory reporting in South Africa can be daunting, especially for CFOs who bear the responsibility of ensuring compliance while also driving strategic financial decisions. The requirements are not just a matter of ticking boxes; they have significant implications for the transparency, credibility, and sustainability of an organisation.

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At the Money: Why Fees Matter

Barry Ritholtz

Why Fees Really Matter with Eric Balchunas , Bloomberg Intelligence (Nov 8, 2023) Fees matter more than you think. Over the long term, the difference between a few basis points can turn into real, big money. On this episode, Bloomberg Intelligence ETF analyst Eric Balchunas joins us to discuss how fees can significantly impact your portfolio. ~~~ About this week’s guest: Eric Balchunas is been an ETF Analyst for Bloomberg Intelligence.

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Assessment on AI from an auditor

Future CFO

Jeanne Boillet , EY Global Accounts Committee Assurance Lead, weighs in with her experience as an auditor, on GenAI, cybersecurity, climate risk and data. First published on Youtube. The post Assessment on AI from an auditor appeared first on FutureCFO.

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Revitalizing Bronzeville: growing resilient Black small businesses

Bank of the West

Since the 1920s, Chicago’s historic Bronzeville neighborhood has been a hub of Black culture and commerce. Today, revitalization efforts are creating opportunities for entrepreneurs and championing economic growth. Renowned for… Read more The post Revitalizing Bronzeville: growing resilient Black small businesses appeared first on About BMO.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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1,029: A Unique Advantage: When CEO Experience Informs CFO Leadership | Matt Steinfort, CFO, DigitalOcean

CFO Thought Leader

While most CFOs climb the ranks through finance-related roles, Matt Steinfort’s path ended up taking quite a significant detour—which saw him leading a company as CEO before unexpectedly stepping into its CFO role. Steinfort’s transition from CEO to CFO occurred when he was approached by Dan Caruso, a longtime mentor and successful entrepreneur.

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How Leading KPIs Can Help Keep Your Business On Track

Focus CFO

At FocusCFO, we are big believers in the EOS (Entrepreneurial Operating System) and have seen firsthand how it can transform businesses. Our fractional CFO services are designed to work hand-in-hand with EOS, helping clients identify and track the right metrics to drive growth and success.

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Staying Ahead of Changes in Accounting

CFO Selections

Executive Summary: Changes happen. Sometimes they come quickly and abundantly. Business executives rely on their Finance Teams to be in front of changes, especially when the impact is big. By proactively preparing for GAAP changes, CFOs can position their business for success. Staying informed, collaborating with experts, assessing the impact, and effectively implementing changing standards are essential to maintaining a smooth-running business operation.

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CFO and COO roles merging as finance leaders expand responsibilities

CFO News

This evolution has been accelerated by the COVID-19 pandemic, which highlighted the growing need for CFOs to take on broader strategic and operational responsibilities.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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States are also cautious on GST rate cuts: FM Sitharaman

CFO News

Finance Minister Nirmala Sitharaman remarked that states are cautious about implementing GST rate cuts, aiming to protect revenue without imposing additional burdens on people. Discussions on revising GST rates are expected to begin in the GST Council's meeting on September 9.

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Sebi issues notice to Religare Ent's Rashmi Saluja

CFO News

The investigation centres on trades conducted by Saluja last year on September 21 and 22, days before the Burman family's open offer for Religare Enterprises was announced on September 25, 2023.

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Gautam Adani replaces Mukesh Ambani as the richest Indian on Hurun list; Check full list here

CFO News

With a wealth of Rs 11.6 lakh crore, Gautam Adani (62) and family replaced Mukesh Ambani and clinched the no.1 spot in the 2024 Hurun India rich list. The report says India minted a new billionaire every 5 days last year.

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Blinkit seeing growth in smaller cities: Zomato CFO Akshant Goyal

CFO News

Zomato's quick commerce platform, Blinkit, is expanding into smaller cities while continuing its focus on large metropolitan areas. Quick commerce platform’s growth in FY24 was primarily on account of addition of dark stores and products, Zomato chairman said.

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Bringing AI to Finance: How to Leverage Technology for Efficiency and Control

Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.

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Bangladesh operations stabilised, people rejoin factory: Emami CFO

CFO News

The company does not see a big impact on its overall business from the Bangladesh operations.

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NFRA and ICAI at odds over plan to sync audits with global norms

CFO News

The National Financial Reporting Authority and the Institute of Chartered Accountants of India are at odds over proposed changes to domestic audit standards. ICAI fears the changes could concentrate audit work among large firms, impacting smaller practitioners. Meanwhile, other regulatory bodies have backed the new norms aimed at preventing corporate frauds.

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SBI should become the best banker to Indians: New chief Challa Sreenivasulu Setty

CFO News

State Bank of India chairman Challa Sreenivasulu Setty, appointed for three years, urges employees to elevate the bank into the most valued financial institution. He succeeds Dinesh Khara and aims to reinforce SBI's status as the 'Banker to Every Indian' and achieve service excellence. Under Setty's leadership, SBI aims for new milestones and strategic growth.

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Reliance Retail awards Rs 351 crore worth of ESOP to leadership team ahead of IPO

CFO News

Reliance Retail awarded ESOPs to director V Subramaniam, chief executive for grocery retail Damodar Mall, president and chief executive of fashion and lifestyle business Akhilesh Prasad, president and chief business officer of electronics retail Kaushal Nevrekar, group chief business operations Ashwin Khasgiwala and chief executive of fashion ecommerce platform Ajio Vineeth Nair.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Reliance AGM: 2 big bangs and other issues that loom over RIL AGM

CFO News

Reliance Industries' Annual General Meeting, scheduled for August 29, is highly anticipated. Investors are keen on updates regarding IPOs for Jio and retail businesses, along with announcements on the new energy sector. Key focus areas include earnings growth, operational efficiencies, and financial strategies that mark a significant transition phase for the conglomerate.

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HBD Financial Services CFO confident of IPO by September 2025, focuses on balanced profitability

CFO News

HBD Financial Services, under CFO Jaykumar Shah, is preparing for an IPO before September 2025. The HDFC Bank owned company focuses on sustainable growth and balanced profitability to attract investors.

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