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The California man carried out a four-year embezzlement scheme in multiple ways, including by using company credit cards to pay for over $750,000 in personal expenses, according to federal prosecutors.
How did the risk management committee at the US bank not see the collapse coming, wonder Indian experts while also questioning the role of the auditors.
The CFO Leadership Council held an emergency meeting on the Silicon Valley Bank crisis Friday. Meanwhile, some finance leaders are now bracing for broader ripple effects.
Even as high inflation persists, the failure of Silicon Valley Bank and Signature Bank has undercut expectations that the Fed will step up the pace of monetary tightening.
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.
By David Enna, Tipswatch.com I am writing this posting after just arriving in Zadar, Croatia. My time is short, so I will need to be brief this month. The Consumer Price Index for All Urban Consumers rose 0.
With steady CFO leadership now paramount, finance leaders should prioritize cash and keep open their lines of communication with shareholders and employees.
With steady CFO leadership now paramount, finance leaders should prioritize cash and keep open their lines of communication with shareholders and employees.
For the past several decades, platforms for advisors have differentiated with the quality of their technology. The focus on ‘tech’ was a natural evolution for advisor platforms away from their roots – which was originally to differentiate by the quality of their proprietary product shelf, the primary means that brokerage firms and insurance companies attracted advisors to them in the 1960s, 70s, and 80s.
I feel pretty confident in making this call, and I don’t make market calls very often: We have seen the top for 2-year Treasury yields. It’s not going any higher than it’s been because there’s no reason for it to. Financial conditions are now contracting hard due in part to the events of this week but also because monetary policy operates on a lag – and the first Fed Funds hike of the cycle.
Depositors heaved a sigh of relief when news broke Sunday that the Federal Deposit Insurance Corporation was going to make whole all of the accounts held at Silicon Valley Bank. Having full access to bank accounts meant those tech start-ups that make up much of SVB’s depositors would be able to make their weekly payrolls. They were the lucky ones: SVB’s equity investors were wiped out and senior bank management was fired.
The bank’s failure — two weeks after it effectively got a clean bill of financial health — is reigniting some concerns that cozy client-auditor ties may jeopardize audit rigor.
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.
The advent of the direct-to-consumer (DTC) business model meant that companies no longer needed to rely on third-party retailers or platforms. DTC has many benefits, chief among them being higher profits. There is no middleman to split the earnings with since the customer gets the product directly from you.
Programming note: Morning Reads will be in Dallas Thursday and Friday — we will be back on the weekend… My mid-week morning train reads: • Dissecting Goldman’s gory $2.25bn SVB equity issue Well that escalated quickly. ( Financial Times ) • Whose Fault is it Anyway : It has been 872 days since a bank failed in the United States. This was the longest streak on record.
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.
Over the past few decades, enterprise resource planning (ERP) systems have become indispensable tools for modern companies. An ERP solution such as SAP S/4 HANA Cloud Public Edition ensures that a company's financial and operational data are stored in a centralized database and that employees have the data they need to make informed decisions. Because teams across departments can access the exact numbers, it reduces the likelihood of errors and inconsistencies.
I want to start out this week with a big thank you to all our fans, friends, employees and clients who came out to see us in Chicago this week for what can only be described as a whirlwind of productivity and fun. The meetings were meaningful, the catch-ups were long overdue and the food was fantastic. We will be back! If you live in the Chicago area and could use a little help with your portfolio, tax advice or just want.
AI can help CFOs enhance customer service and other key business elements, but CFOs need to understand not only what the technology can do, but what it wasn’t made to do.
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.
The quick and unexpected collapse of the second and third largest bank collapses in US history sent shock waves throughout the markets. Silicon Valley Bank (SVB) collapsed last Friday and it sent both private and public companies scrambling to address what exposures they had with SVB and other banks that might be at risk. To top it off, this occurred on a Friday, meaning many executives and CFOs had to wait all weekend until Monday to take real action.
By David Enna, Tipswatch.com Even though I am now in beautiful but very windy Split, Croatia, this morning, I couldn’t resist the temptation to check in on Treasury Inflation-Protected Securities after an incredibly volatile week.
Apparently it’s news to the whole world this morning that Credit Suisse is some sort of undead Swiss zombie bank worth more dissected and sold off in chunks than alive. Who knew? Oh wait – everyone knew, for a long time now. Open secret. Single digit stock price. Come on. I meet financial advisors at industry events and cocktail parties – I wince when they say they work at Credit Suisse.
The iconic El Segundo, California-based toymaker had a tough 2022 but CFO Anthony DiSilvestro expects the outlook to improve and says parents will always prioritize spending on their children.
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
My Two-for-Tuesday morning train reads: • Bank Runs, Now & Then : The Panic of 1907 would probably be more famous if it wasn’t overshadowed by the Great Depression just a couple of decades later. It lasted 15 months and saw GDP decline an estimated 30% (even more than the Great Depression). Commodity prices crashed. Bankruptcies exploded. The stock market fell 50%.
Finance chief Daniel Beck is among three SVB Financial senior officers who sold company shares worth a combined total of about $4.5 million as of Jan. 1, according to insider trading research firm Smart Insider.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
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