CFO Dive

1 day ago | cfodive.com | Jim Tyson

Pessimism among audit partners surged this quarter on concerns that the U.S. economy will fall into recession, with 44% of top audit professionals holding a gloomy view of the outlook compared with 10% last fall, the Center for Audit Quality said Thursday. Sixty percent of audit partners identified a downturn as one of the largest risks for businesses, and optimism plunged to 15% from 38% during the period, the CAQ said, describing results of a quarterly survey.

2 days ago | cfodive.com | Jim Tyson

U.S. companies slowed hiring last month and activity in the service industry fell, according to data released Wednesday, signaling that the initial bite from Trump administration tariffs may have begun harming core components of the economy. An index for service sector prices rose in May and new orders declined, as both gauges recorded levels unseen since late 2022, the Institute for Supply Management said in a report on its services index.

2 days ago | cfodive.com | Grace Noto

Tesla CFO Vaibhav Taneja made two sales of company stock this week in his latest offloading of company shares, selling approximately $2 million on June 2 before selling $342,690 in shares on June 3, according to company filings.

3 days ago | cfodive.com | Jim Tyson

Imposition of the highest U.S. tariffs since the 1930s will stoke inflation as uncertainty from other Trump administration policies slows U.S. economic growth to 1.6% this year from 2.8% in 2024, the Organization for Economic Cooperation and Development forecast Tuesday. A big decline in immigration and large cuts to the federal workforce will also inhibit growth, the OECD predicted in a quarterly report on the world economy.

3 days ago | cfodive.com | Grace Noto

Connecticut lawmakers passed legislation providing alternative pathways for certified public accounting licensure in the state, with the state’s House passing House Bill No. 7020 on April 28 with no opposition and the Senate passing the measure May 29, according to the Connecticut General Assembly. The bill now awaits a signing by Connecticut Governor Ned Lamont.