Ex-Girardi CFO sentenced to 10 years in federal prison; Inflation likely to surge to 3.3% this year: NABE survey; Consumer sentiment plummets, inflation expectations soar amid trade war; FASB sets clock for derivatives rules update
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Finding accountants needed to staff finance teams and deliver timely and accurate financial reports has become one of the bigger challenges facing CFOs in recent years.
But an industry initiative tackling the shortage of accounting talent is gaining steam. Lawmakers in a growing band of states are passing new legislation that offers alternative paths to CPA licensure that don’t require 150 hours of college credit, effectively a fifth year of schooling.
In the spirit of tax season, CFO Dive is launching a CPA legislation tracker to help finance leaders and accountants keep up-to-date on the shift, complete with an interactive map as well as ongoing coverage of the state-by-state changes.
State changes to licensing rules are chipping away at a decades-old system that has largely required CPA candidates to complete what effectively amounts to a fifth year of schooling.
The former finance chief was also ordered to pay $8.9 million in restitution after helping to build “a web of deceit and manipulation,” according to the court.
The rise in price pressures will prove short-lived, according to a survey of economists. Still, inflation will likely persist above the Federal Reserve’s 2% target through next year.
“There’s been a sharp decline in consumer sentiment, and business sentiment measures have weakened too,” New York Federal Reserve Bank President John Williams said.
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