Wed.Apr 10, 2024

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PCAOB levies record $25M fine on KPMG Netherlands for exam cheating

CFO Dive

The $25 million penalty is the largest fine of any type imposed by the auditor watchdog since it was created in 2002 following the Enron accounting scandal.

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In The Long Run, Stocks Outperform Bonds… Or Do They?

Nerd's Eye View

Financial advicers are intimately familiar with the phrase, "Past results are not indicative of future performance." Every document that considers the facts around any particular asset class will invariably include that disclaimer, but constructing a portfolio consisting of a mix of equities, fixed income, and other assets requires investors and advicers to make some fundamental assumptions around long-term expected returns and correlations between assets. 3 common assumptions that have driven a

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Inflation outruns forecasts, prompting market bets on fewer Fed rate cuts

CFO Dive

Futures traders cut from 56% to 17% the odds that the Fed will conclude 2024 having trimmed the main rate by more than a half percentage point.

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March inflation sets I Bond’s new variable rate at 2.96%

Tips Watch

Inflation again rose higher than expected in March, probably putting Fed rate cuts on hold. By David Enna, Tipswatch.com Non-seasonally adjusted inflation rose 0.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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KFC names new CFO amid push to boost sales

CFO Dive

The finance leadership change comes as KFC struggles with dwindling traffic in a dicey economic environment.

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APAC retail organisations opt Workday Financial Management to drive profitability

Future CFO

Retail organisations in the Asia-Pacific region are selecting Workday Financial Management to drive greater profitability, according to a recent press release from the system software company. Retailers across the APAC region including Aesop, Charles & Keith, Kolmar Korea Holdings Co., Ltd, Mondelez, MUSINSA Co., Ltd, PUMA SE, MGM China, and Osotspa Thailand are using Workday to gain real-time visibility into financial and operational data across the front, middle, and back offices for impro

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Govt ends easy tax relief for Mauritius-based FPIs

CFO News

This limitation on third-party countries will be a concern, along with the new requirement to demonstrate that tax relief is not one of the principal purposes of the investment, said experts.

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Protected: How CFOs Can Use Parkinson’s Law of Time Management

Beacon CFO Plus

This content is password protected. To view it please enter your password below: Password: The post Protected: How CFOs Can Use Parkinson’s Law of Time Management appeared first on BeaconCFO Plus.

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Chain reaction: Apple jobs in India set for 3x jump in 3 years

CFO News

Cupertino-based Apple is looking to increasingly distance itself from China. It also aims to increase local value addition from its Indian suppliers in line with the approach that it has adopted in China.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Invesco plans to exit MF business in India

CFO News

IIHL - the Mauritius-based investment company of the mobility-to-chemicals conglomerate that owns IndusInd Bank and Anil Ambani-promoted Reliance Capital, which it bought recently in a bankruptcy resolution - has valued Invesco Asset Management India at Rs 2,100-2,500 crore.

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Wipro became IT's CXO nursery under Thierry Delaporte

CFO News

During Delaporte's four years at Wipro, four Wipro former executives went on to become CEOs outside the company, while three became CFOs even as other senior leaders joined smaller and larger firms in top CXO roles.

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Red Sea Crisis: RBI and IRDAI asked to help limit impact on exports

CFO News

In a letter, which was also addressed to state-run export finance institution Exim Bank, the finance ministry last month told the RBI and Insurance Regulatory and Development Authority of India (IRDAI) to monitor and look into the concerns raised by exporters with the commerce ministry about these disruptions potentially inflating India's export costs, officials said.

Finance 52
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ADB raises India's GDP growth forecast for FY25 to 7 pc on robust investment, consumer demand

CFO News

Asian Development Bank raised India's GDP growth forecast to 7% for the current fiscal, driven by robust investment and improving consumption demand. Growth moderates in FY2024 and FY2025, with support from monetary and fiscal policies.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Federal Reserve officials signal concern over stalling inflation progress, minutes show

CFO News

Federal Reserve officials expressed concern last month about a potential stall in inflation progress, suggesting a prolonged period of stringent monetary policy might be necessary to control rising prices.

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Global trade to pickup in 2024: WTO

CFO News

India clocked $451 billion goods export in FY 23 and $394.99 billion in April-February FY24. In its latest Global Trade Outlook and Statistics report, India’s share of global goods exports was 1.8% in 2023 and imports was 2.8%. In digitally delivered services, India’s share rose to 6% in 2023 from 4.4% in 2019. In global commercial services, India’s share in exports is seen 4.4% in 2023 at $344 billion, up 11% on-year whereas imports were flat at $247 billion.

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Next-level tax & GST reforms, Rs 1 lakh cr to make India a global innovation hub: New govt's economic agenda for 100 days

CFO News

The cabinet secretary has convened a meeting on Friday with officials from key economic ministries to outline the economic agenda for the initial 100 days of the incoming government following the general election. Discussions may encompass streamlining the goods and services tax (GST) rate structure, amendments to the Insolvency and Bankruptcy Code (IBC), and immediate economic challenges.

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Next-level tax & GST reforms, Rs 1 lakh cr to make India a global innovation hub: New govt's economic agenda for 100 days

CFO News

The cabinet secretary has convened a meeting on Friday with officials from key economic ministries to outline the economic agenda for the initial 100 days of the incoming government following the general election. Discussions may encompass streamlining the goods and services tax (GST) rate structure, amendments to the Insolvency and Bankruptcy Code (IBC), and immediate economic challenges.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Musk, Ambani on a drive? Tesla likely seeks JV with Reliance for Indian EV manufacturing

CFO News

Reliance-Tesla: Tesla is making strides towards entering the Indian automobile market, with talks of a potential joint venture with Mukesh Ambani's Reliance Industries to establish a manufacturing facility. The move aligns with India's push for electric vehicles, with attractive land proposals from states like Maharashtra and Gujarat.

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India, EU launch initiative for EV start-ups

CFO News

EU and India launch a matchmaking event for startups in EV Battery Recycling Technologies to enhance circularity and carbon-neutrality. The event promotes sustainable innovation and economic relations, fostering collaborations for a green and circular economy.

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Adani Group acquires 25 acres from Finolex in Pune to set up data center

CFO News

In February 2021, Adani Group’s flagship company Adani Enterprises entered a 50:50 joint venture with EdgeConneX to develop and operate data centers throughout India. The joint venture will focus on building a network of hyperscale data centers across the country, starting with Chennai, Navi Mumbai, Noida, Vizag, and Hyderabad markets.

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KPMG, Deloitte affiliates hit with US penalties for exam cheating

CFO News

Exam cheating has plagued the auditor industry for years. KPMG in 2019 agreed to pay $50 million to the U.S.

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.