Leadership
Deloitte: Transforming Internal Audit from 'Overseer' to 'Strategic Partner'
Mike Schor, Deloitte's US internal audit market leader, recently said in an interview with CFO Dive that internal audit should abandon the outdated image of 'fault-finding' or 'saying no,' fostering open dialogue and collaboration with the CFO and key functional departments while maintaining independence and objectivity. He emphasized that modern internal audit must go beyond 'compliance for compliance's sake,' proactively anticipating risks and becoming a driver of enterprise change. Against the backdrop of accelerating AI adoption, internal audit must enhance its skills and secure an 'observer seat' in the enterprise AI governance committee to enable cross-departmental coordination and provide forward-looking insights.
Standard Chartered Group Chief Financial Officer suddenly resigns, moves to Apollo Global Management
Standard Chartered Group announced on Tuesday that Group Chief Financial Officer Diego De Giorgi has left with immediate effect due to "external opportunities." Apollo Global Management subsequently announced his appointment as Head of EMEA. Standard Chartered's share price fell 5.74% on the day.
AI-driven fraud losses surged last year, research reveals industry inflection point
Pindrop's latest research shows that in 2025, AI-driven fraud attack volume surged 1210% year-over-year, with total losses against major US clients reaching approximately $1 billion. Generative AI and deepfake technology are shifting fraud from manual operations to automated supply chains, with retail refund fraud being particularly prominent. A concurrent Trustpair survey also found that 71% of US enterprises experienced an increase in AI fraud.
Vena Enters Merger Agreement with FP&A Software Peer Acterys to Expand Microsoft Ecosystem Presence
Toronto-based fintech company Vena announced plans to acquire Sydney-based FP&A software peer Acterys, with the transaction amount undisclosed. Vena CEO Hunter Madeley stated that the merger will strengthen its presence in the Microsoft ecosystem, particularly in Power BI and Fabric. The deal is pending approval from Australia's Foreign Investment Review Board.
Figure CFO Calls for Stablecoins to Be Included in Cash and Cash Equivalents Accounting
Macrina Kgil, who has experience as a CFO at five companies, is focusing on another potential financial role change this year: stablecoin accounting standards. She hopes FASB will classify stablecoins as cash or cash equivalents rather than intangible assets. Kgil's tenure at Figure gives her a close-up view of related accounting standard changes, as the company merged last year with Figure Markets, which launched the SEC-registered interest-bearing transferable stablecoin $YLDS.
Kyndryl CFO and General Counsel Depart, Company Initiates Accounting Review and Delays Quarterly Report
Enterprise technology provider Kyndryl announced on Monday that CFO David Wyshner and General Counsel Edward Sebold have stepped down effective immediately, appointing Harsh Chugh as interim finance chief, among other changes. The company also disclosed that its 10-Q report for the quarter ended December 31 will be delayed due to an audit committee review of cash management practices. Kyndryl expects to disclose a material weakness in internal controls over financial reporting in that report, but CEO Martin Schroeter stated that financial statements will not be restated and reaffirmed the 2028 financial targets.
SAP Americas CFO on the 'culture of failure' in technology experimentation: How finance teams can embrace AI transformation
In an interview, Sonja Simon, CFO of SAP Americas, shared her views on how AI is transforming finance work. She believes that AI is still a 'fast-moving train,' and finance leaders need to help teams adapt to change. By forming dedicated teams, encouraging employees to share their experiences with AI, and advocating a 'culture of failure,' Simon hopes to drive the finance department to become an early adopter of new technologies. She cited examples where tools developed by her team, though not perfect, significantly improved the analysis process for key metrics.
Toyota Management Reshuffle: CFO Yoichi Miyazaki Promoted to CEO, Koji Sato Becomes Chief Industry Officer
Toyota Motor announced on February 7 that current CFO Yoichi Miyazaki will be promoted to CEO and President, effective April 1; Koji Sato will become Chief Industry Officer. This marks the second CEO change in three years, aimed at addressing profitability pressures and industry transformation.
Alphabet finance team introduces AI agents to accelerate invoice processing and reconciliation
Alphabet's finance team is deploying AI agents to handle invoices and reconciliation. CFO Anat Ashkenazi stated on the Q4 call that about half of the company's internal code is generated by AI. Gartner expects that by 2028, 30% of enterprise software will include agentic AI, but CFOs need to be wary of hype and data risks.
Peloton CFO Departs Amid Continued Subscription Decline
Peloton Interactive announced that Chief Financial Officer Liz Coddington will step down on March 27 to join clean energy company Palmetto as CFO. At the time of her departure, Peloton reported a 7% year-over-year decline in second-quarter subscriptions to 2.6 million, with revenue down 3% year-over-year.