News

On March 1, 2024, Judge Liles Burke of the U.S. District Court in Huntsville, Alabama, held that the Corporate Transparency Act — and the beneficial ownership information reporting mandate it includes — is unconstitutional, because it exceeds the powers granted to Congress by the Constitution.

The Financial Crimes Enforcement Network (FinCEN) should pause all enforcement of the Corporate Transparency Act (CTA), P.L. 116-283, and its required beneficial ownership information (BOI) reporting until a legal challenge works its way through the courts, plaintiffs who won the first round of the case said Tuesday.

Mistakes continued to pile up this earnings season in the wake of Lyft Inc.'s market-roiling typo: Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the Securities and Exchange Commission.

To err is human. To seek help is superhuman. Gartner recently asked controllers about how often they or their peers make financial errors, as well as their thoughts on causes. Though survey respondents weren't asked about the significance of the errors cited, 59% acknowledged "several errors per month."

Executive leaders are just like everyone else — aiming to stay current with today's ever-changing workplace.

A SoFi survey indicates stress over personal finances may affect employee productivity, and HR may be underestimating the consequences.

Treasury' Financial Crimes Enforcement Network (FinCEN) released a guide for rules regarding access to beneficial ownership information (BOI) by some financial institutions, including rules regarding customer consent.

CFOs need to incorporate tax analysis as part of their strategic decision-making or find themselves dealing with unexpected financial and operational outcomes.

Changes to email security standards from several large providers could see accounting firm emails that fail authentication marked as spam or rejected outright, unless their settings are correctly configured.

A disproportionate percentage of high-performing employees are likely to consider leaving their jobs in response to return-to-office (RTO) mandates.

A recent survey suggests a combination of changing educational demands and a disproportionate amount of AI upskilling may lead to a knowledge gap among mid-level managers.

Prioritizing privacy protections can be good for business, quite literally. But how can organizations get the greatest return on investment for their efforts?

Stress can be disabling but Lucy Cohen, one of the headline speakers at the Festival of Accounting & Bookkeeping, explains that harnessing the benefits can change you as a leader.

Wire transfer fraud, vendor fraud, and CEO or CFO impersonations were the most frequent, according to a Trustpair survey.

A shift away from fully-in-office jobs continued over the last year, and the trend may well continue, based on research revealing that the large majority of recently formed companies are adopting flexible workweeks.

Employers in a global survey see a significant gap between employee pay expectations and planned pay, fuelling flight risks for companies.

There's a notable shift in the perception and acceptance of artificial intelligence unfolding within the accounting profession, as a growing number of firms explore the various applications of AI and generative AI, and the improved efficiencies and competitive edge to be gained from them.

More than four in five companies in a global study offered ESG-related executive incentives in 2023, up from two in three companies just two years ago.

Inflation adjustments have significantly increased the civil monetary penalties for violating the beneficial ownership information (BOI) reporting rules and for the unauthorized disclosure or use of BOI. The rules requiring the reporting of BOI just went into effect this month.

Prevalent threats range from a contentious presidential election and expectations for a benign end to inflation to the hazards of adopting generative AI.