AI-curated news for your industry

The Pennsylvania and Delaware legislatures each passed CPA licensure pathway bills on Thursday, becoming the latest states to ease requirements for obtaining a certified public accountant license and alleviate the industry's talent shortage. The Pennsylvania bill has been sent to the governor for signature, and the Delaware bill also passed the Senate unanimously. At least 22 states nationwide have now passed similar legislation.

According to US Labor Department data, continuing jobless claims increased by 37,000 to 1.97 million for the week ending June 14, the highest level since November 2021. Both hiring and layoffs have declined, indicating a cooling labor market. Fed officials are divided on the employment outlook, with some indicating they may support a rate cut at the July meeting if inflation is under control.

Research released by KPMG on Thursday shows that about one-third of enterprises have fully deployed agentic AI, a threefold increase from 11% in the previous two quarters. 57% of enterprises are piloting agents, down from 65% last quarter; 10% are exploring potential uses, down from 25% last quarter. KPMG notes that technology skill gaps, employee resistance to change, and system complexity are major deployment barriers. Gartner, meanwhile, predicts that by the end of 2027, over 40% of agentic AI projects will be canceled.

The North Carolina House of Representatives passed the Accounting Workforce Development Act by a vote of 109 to 0, and the Senate by 45 to 0, allowing candidates with a bachelor's degree and accounting background, two years of work experience, and who have passed the CPA exam to obtain licensure without completing 150 credit hours. The bill still requires the signature of Governor Josh Stein and is expected to take effect on January 1, 2026.

Vince Tejada, the new head of finance and strategic finance at stablecoin infrastructure provider Bastion, said stablecoins are expected to serve as a bridge connecting traditional finance and digital assets, unlocking potential in treasury and cross-border payments.

Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee that the central bank will keep its benchmark interest rate unchanged to assess whether the impact of tariffs on inflation is short-lived or lasting. He noted that most policymakers still expect room for rate cuts this year, but emphasized the need to proceed cautiously.

The PCAOB announced fines totaling $8.5 million against Deloitte, Ernst & Young, and PricewaterhouseCoopers' Dutch member firms for improperly sharing answers on internal training exams by hundreds of professionals, including partners, between 2018 and 2022. The penalty amount was lower than expected due to firm cooperation and far below the record $25 million fine imposed on KPMG Netherlands last year.

Amid the hype around generative AI, CFOs need to rationally assess the actual role of AI in financial processes. Written by John Parkinson, Senior Director of Emerging Technologies at FreeClimb, this article analyzes the deterministic advantages of extractive AI and the innovative potential of generative AI, and recommends a hybrid approach to balance accuracy and creativity, driving the transformation of financial functions.

In congressional testimony, Fed Chair Powell stated that the central bank is in no hurry to adjust the benchmark interest rate, emphasized the inflationary impact of tariffs, and acknowledged that if inflationary pressures remain under control, a rate cut could come 'sooner rather than later.'

Against the backdrop of an still-unclear global macroeconomic environment, Remote CFO Michiel Boere draws on his early investment experience at Uber Eats, adopting a 'risk-appetite' strategy by directing R&D focus toward non-core businesses, and emphasizes that financial leaders must flexibly switch between strategy and operations. Leveraging ample funds from the company's $150 million Series B funding round in 2022, he makes long-term plans while closely monitoring the impact of AI, remote work trends, and geopolitics on the global talent market.