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In 2001, Enron's spectacular collapse stunned Wall Street, wiping out more than $40 billion in shareholder value and devastating thousands of employees. At the center of the scandal was the company's former chief financial officer, Andy Fastow, who later pleaded guilty to securities fraud and served six years in prison. More than 20 years later, Fastow is sharing his story with a stark warning to corporate leaders. Enron's fate was not an outlier, but a warning about the dangers of loophole thinking and ambition.”How is it possible that someone who was named 'CFO of the Year' could end up in…

Today's sports world is indistinguishable from the past. Gone are the days when your only hope of watching your favorite player play was from a nosebleed seat. Now you can catch them live on social media, use a microphone in a game, or even meet them face-to-face in an AI alternate reality.Change is occurring at a similar pace for the financial leaders supporting these businesses. “We're not just selling tickets, we're not just selling sponsorships, we're not just selling television rights in bundles,” said the four-time Olympic champion and founder and former CEO of Sports Innovation Lab. Angela Ruggiero spoke…

In many industries, the pace of the workplace is becoming increasingly faster due to a combination of broad technological advances, expanding infrastructure, and societal imperatives. In these environments, we strive to maintain influence and actionability and be aware of macro variables, but seemingly trivial tasks and details are often overlooked internally, including day-to-day interactions between personnel and leaders. Sometimes it slips through the cracks in functionality. For better or worse, these so-called micro-interactions can have a huge impact on a company's culture, utility, and overall success. Therefore, leaders must keep these interactions in mind when balancing social dynamics with employee…

Show us your new technology. Then I will show you the unexpected results. At this week's Finance & Accounting Technology Expo, we learned about the daily struggles of CFOs and their teams. Established industry players, startups, and CFOs had a lot to say about current challenges. Here are three of the most important for the future of finance and accounting technology.data overGuy Virgil, Product Manager at Safebooks AI, a new financial data governance platform, said: The startup's existing customers are looking to Safebooks to help them build robust data governance processes and help them through audit season. Participants like Stephen…

CEO “successes” at global brands happen as often as unicorn sightings. In fact, the term may be as much of an oxymoron as “jumbo shrimp” or “military intelligence.”Just ask Nike.The past two CEO appointments (both external hires) have successfully steered the sports giant down a path that would be difficult for even the most technologically advanced sneakers to gain traction. Nike has a new CEO and the internet is buzzing with optimism. This is good news for the company, which has been in an alarming decline. Naturally, having studied and coached successors for over 16 years, I am equally optimistic.I…

“There is no difference between you and me,” Daymond John told a standing-room-only crowd at the opening ceremony of the inaugural Finance and Accounting Technology Expo held this week at the Javits Convention Center in New York. Ta. “I call you shark friends.”John was referring to the fact that the CFOs and their teams assembled are all focused on “how do we improve our people, our investments, and a variety of other things…” You are the people who help me with all the crappy things I shop for. shark tank”But John, whose penniless-to-riches story filled with hip-hop legends captivated audiences,…

Every CEO change is a high-stakes gamble for the board and the company. Effective succession planning can reduce disruption and ensure progress, but if poorly executed, it risks cascading failures throughout the organization. At a recent Board Summit, Verisk CEO Lee Shavel and DDI SVP of Leadership Insights Matt Paese revealed what it takes to make succession planning a lasting success. Mr. Shavel, a CEO with diverse experience in the financial and data analytics industries, shared his journey through Verisk's succession process and highlighted three key lessons that directors can apply to their own processes.1. Please avoid nominating candidates. One…

For large public companies, the December 1, 2023 deadline to comply with the SEC's final clawback rules was not unusual from a corporate governance perspective. Prior to the effectiveness of this requirement, many companies voluntarily adopted provisions that substantially meet, or in some cases exceed, the financial restatement clawback policies required by the Dodd-Frank Act. In fact, a recent study by F.W. Cook reported that 80% of large-cap companies have clawback provisions that exceed those set by the SEC.The SEC's clawback rules are prescriptive and narrow in scope, requiring companies to maintain a policy of recovering excess incentive payments from…

To understand how artificial intelligence is dramatically reshaping the cybersecurity risk landscape, consider the sources of fraud that most of us are most familiar with: from family, friends, and colleagues. However, in reality, just checking such emails is sufficient. A ruse to defraud a company or gain access to its systems. Timothy Howard, a partner at Freshfields, said such scams have become steadily more sophisticated over the years, and that using AI to create more convincing communications and scammers will make them less likely to occur at all. It's reaching a new level, he told directors gathered at a recent…

Alexandra BeteshChief Customer Officer, Visual Lease, a maker of accounting and lease management software based in Woodbridge, New Jersey.So why are you here today? What’d you come looking for?I came to learn to see what the finance persona that we interact with so much is really learning for their next year, what their focuses are, what their challenges could be, to make sure that I can better understand them and better speak to them with our product, our services, things like that.When you talk to people in finance and accounting, what are they asking for, what’s the vibe out there…