Compliance
NCC Group's latest report reveals that ransomware attacks rose by 28% month-on-month to 421 in September, the first increase in six months. North America and Europe accounted for three-quarters of the incidents, with the industrial sector suffering 29% of attacks. Despite an overall 5% decline in the third quarter, groups like Qilin and Akira remain highly active.
Against the backdrop of AI increasingly becoming part of corporate operations, CFOs need to ensure that the data fed into models carries the same credibility as financial statements. Usercentrics CEO Donna Dror emphasizes that data should be treated as a financial asset, with privacy and trust serving as governance mechanisms that preserve and enhance value; meanwhile, front-loading compliance can reduce later remediation costs and act as a growth driver.
The Washington State Board of Accountancy has adopted new rules allowing candidates to obtain a CPA license by substituting a bachelor's degree plus two years of work experience for the 150-credit requirement. The change is expected to take effect as early as next month (31 days after the rules are submitted), making Washington at least the 23rd state to relax this requirement.
Rivian Automotive announced on Thursday that it has agreed to pay $250 million to settle a class action lawsuit. The lawsuit alleged that it made false statements regarding material facts related to vehicle pricing during its IPO in 2021. The payment will be made through a combination of directors' and officers' liability insurance ($67 million) and cash on hand ($183 million). The company denied the allegations, stating that the settlement is not an admission of fault and is aimed at concentrating resources on the launch of the R2 model in the first half of 2026.
The Tax Foundation's latest report shows that tariffs imposed by the Trump administration this year have pushed retail prices up by 4.9 percentage points, with imported goods costs rising by 6 percentage points and domestic goods costs by 4.3 percentage points. The report cites research by Harvard economists published this month and quotes the foundation's senior economist Alex Durante, countering the administration's claim that consumers have not borne the burden of the tariffs.
Nearly a decade after issuing the lease accounting standard (ASC 842), the Financial Accounting Standards Board (FASB) found through a post-implementation review (PIR) that the standard's implementation costs are significantly higher than expected, mainly due to the need for companies to adjust systems and processes. Although investors generally recognize the new rules, board members engaged in in-depth discussions on cost-benefit analysis, transition arrangements, and potential impacts on business decisions.
According to EY's latest report, Fortune 100 companies are accelerating the disclosure of AI strategies and related risks, with board oversight rising from 16% in 2024 to 48%, and the proportion of companies listing AI as a risk factor in 10-K filings increasing from 14% to over one-third. Meanwhile, transparency in cybersecurity governance has improved, with over 70% of companies adhering to external security frameworks. Another report from AuditBoard points out that nearly half of companies face risk management challenges in AI implementation.
B&M European Value Retail disclosed on Monday that due to an operating system update, approximately £7 million in overseas freight costs were not correctly included in cost of sales, leading the company to lower its fiscal 2026 outlook, and CFO Mike Schmidt announced plans to step down.
The pregnancy discrimination and retaliation lawsuit filed by former Real Brokerage Chief Financial Officer Michelle Ressler has been granted additional mediation time. Federal Judge Analisa Torres approved the joint request from both parties, extending the mediation period to October 30, with a requirement to report the mediation results to the court by November 6.
Michigan's CPA licensure reform bill (HB 4893) is expected to accelerate after the budget crisis is resolved. Introduced by State Representative Mark Tisdel, the bill proposes adding a new path requiring a bachelor's degree plus two years of work experience while retaining the existing 150-credit-hour path. Supporters believe this will help alleviate the accounting talent shortage, but the bill needs amendments to align with industry standards such as the Uniform Accountancy Act.