From WSJ: After three decades working as a financial executive for General Electric Co. and the Depository Trust & Clearing Corp., Oscar Raposo took a career break in 2015 to go backpacking in Asia. When it was time to return to work, he decided to move into the nonprofit sector. “I wanted to do something …
Corporate CFOs in High Demand at Charities as Budgets Come Under Scrutiny Read More »
From Cfo.com: The future CFO needs to be a thought leader who fosters an open and collaborative culture to build next-generation practices. “That means empowering the team and giving them more control over the day-to-day finance operations,” says Anthony Coletta, CFO of SAP North America. To succeed in their new leadership roles, senior finance executives need …
By David Schannon and Chuck Miller, Bain & Co. (from Cfo.com) It’s a frustrating scenario at many companies: The procurement chief announces major savings from a new initiative, but the gains never make it to the bottom line. The problem is pretty obvious: two accounting systems that don’t mesh. Procurement departments calculate savings based on …
PwC has failed in a High Court bid to ward off a pending multimillion euro negligence claim against the Big Four firm, reports Accountancy Daily. The firm had asked Mr Justice Fancourt to strike out the claim and grant them summary judgment. However, in a complex judgment running to more than 18,000 words, the judge …
PwC fails to ward off multimillion negligence claim Read More »
From Accountancy Daily: The OECD is consulting on its global anti-base erosion (GloBE) proposal which is designed to prevent multinationals from profit shifting, by developing rules which would effectively create a minimum tax rate worldwide. The proposal forms part of the remaining programme of work under the OECD’s Base Erosion and Profit Shifting (BEPS) framework, which …
OECD consults on global tax rules to stop profit shifting Read More »
The EU is set to tighten VAT rules to improve fraud detection in cross-border e-commerce transactions and simplify requirements for SMEs, says Accountancy Daily. The economic and financial affairs council has reached agreement on the two proposals, which will now go on to be formally adopted. The first reform concerns the detection of tax fraud …
Report-back from the 49th IAFEI World Congrees: The 49th CFO World Congress was recently hosted in Italy. SAIBA is a member of the world CFO organisation and attended the event in the small town of Matera, southern Italy. And with the Springbok’s World Cup Rugby win as background, it provided a new perspective about how …
From Vox: Barry McCarthy, the pioneer behind a novel method to take companies public, is leaving his role as the chief financial officer at Spotify. It’s a major loss for the streaming audio company. McCarthy may not be well known beyond the ranks of Wall Street and Silicon Valley, but the idea he developed last …
The man who tried to disrupt Wall Street’s stranglehold on Silicon Valley is retiring Read More »
From Cfo.com: The use of machine learning technology is spreading across all areas of modern organizations, and its predictive capabilities suit the finance function’s forward-looking needs. Understanding how to work with machine learning models is crucial for making informed investment decisions. Yet, for many finance professionals, successfully employing them is the equivalent of navigating the …
What Kind of Problems Can Machine Learning Solve? Read More »
It’s getting harder and harder to make sense of published financial accounts, and the relentless tweaking of accounting standards has done little to improve the situation. In fact, it has arguably made it worse. If published accounts were a reliable reflection of the commercial health of companies, then trouble at Steinhoff and Tongaat would have …
Why the world no longer believes financial statements Read More »
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