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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.
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
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.
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.
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.
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.
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Foreign law firms getting a foot in the Indian legal door will also be a wake-up call for the domestic law firms, which are not professionally managed, Saraf said.
The bank's chief risk officer seat was left vacant for much of 2022, raising questions about how such responsibilities are distributed and to whom in the modern C-suite.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Financial acumen or leadership style; social impact, emotional quotient or crystal ball gazer -- finance chiefs need to be analytical, creative, and empathetic but are these enough ingredients to become a successful leader?
The Crisil report also predicted that over the next five fiscals, India’s GDP will grow at 6.8% annually, driven by capital and productivity increases.
China’s policy, including its reopening and policy measures that refocus on growth rather than regulatory tightening, will likely drive a recovery of private consumption and stabilisation of the property market from a low base, said Moody’s recently. At annual meetings of China's (A1 stable) top legislative and advisory bodies, policymakers set an economic growth target for 2023 of 5%, which Moody’s said is in line with its growth forecast.
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
This week was one such week for the global financial markets and economy when two US banks - Silicon Valley Bank and Signature Bank - went belly-up and the storied 'too big to fail' Credit Suisse came on a brink of collapse.
Are you looking for guidance as you grow your business? Fractional CFOs are emerging as a valuable resource for companies looking to enhance their financial management and planning capabilities. We're excited to see Fortune highlighting the benefits of this model in their recent article, Secrets of a Fractional CFO, but as a leading provider of fractional CFO services, we have over 20 years of first-hand experience with these benefits!
What does it mean to "reinvest in the business"? We've all heard that term. But there's a better term for that cash, right? And what's it called when you report on those investments? They're called retained earnings. And the statement of retained earnings is what you send over when you report on them. In this blog post, we're going to tell you exactly what retained earnings are, what affects them, why they're important, and even how to calculcate them.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
The Swiss-headquartered bank has reported an $8 billion loss in 2022, which led to its stock dropping 30 per cent to an all-time low on Wednesday and many to draw a parallel with Lehman Brothers which was the biggest bank to collapse during the 2008 financial crisis.
In the last one year, amid a churn and reduced competitive hiring in the rest of the tech cohort, the global capability centres (GCCs) of MNCs met 46% of their talent needs by absorbing employees from IT and new-age companies, shows a survey conducted by staffing services company Xpheno for ET. As much as 32% of the hiring was from IT services alone.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
It is examining the claims of all the manufacturers that had claimed incentives under Phase II of the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, senior government officials and top industry executives told ET.
Are you looking for guidance as you grow your business? Fractional CFOs are emerging as a valuable resource for companies looking to enhance their financial management and planning capabilities. We're excited to see Fortune highlighting the benefits of this model in their recent article, Secrets of a Fractional CFO, but as a leading provider of fractional CFO services, we have over 20 years of first-hand experience with these benefits!
"Reports appearing in a section of the media indicating the possibility of deferment of IDBI Bank disinvestment are misleading, speculative and baseless. The transaction continues to be on track as per the defined process in post-EoI stage following receipts of multiple EoIs," Secretary, Department of Investment and Public Asset Management tweeted.
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