Latest news
The Wisconsin Senate passed SB732 on Wednesday by unanimous voice vote, establishing a third pathway to CPA licensure in the state: holding a bachelor's degree, two years of experience, and passing the exam qualifies for certification, without the 150-credit requirement. The state House had passed the companion bill the previous day. The bill takes effect immediately upon signing by Governor Tony Evers, expected in March or April. Nationwide, approximately 26 states have implemented CPA pathway reforms, with another 19 states advancing related legislation.
The audit industry is entering an era of fundamental transformation driven by artificial intelligence. Trullion CEO Artie Minson points out that in 2026, AI will reshape five core aspects of audit work: manually extracting data from client documents, reformatting data across workpapers, searching emails for audit evidence, using sampling as a constraint, and coping with time compression caused by client closing delays. These changes are expected to improve profit margins, enhance client experience, increase accuracy, and create more meaningful work content for young professionals.
The New York Fed released a report on Thursday stating that in 2025, U.S. businesses and consumers bore nearly 90% of tariff costs, refuting the Trump administration's claim that foreigners bear the tariff burden. The report noted that the 'Liberation Day' tariffs in April raised the average tariff rate from 2.6% to 13%, with imported goods prices rising more than untaxed goods. Research from the Kiel Institute, the Tax Foundation, and the Yale Budget Lab also supports this conclusion.
In an interview with CFO Dive, Hewlett Packard Enterprise (HPE) CFO Marie Myers stated that the 2026 finance transformation will focus on the scaled application of agentic AI, covering scenarios such as predictive analytics and accounts receivable processing. The internal tool "Alfred," co-developed by HPE and Deloitte, has already shortened the financial reporting cycle by approximately 40%.
The latest report from Russell Reynolds Associates shows that the number of CFO appointments globally reached 316 in 2025, a seven-year high and a 10% year-over-year increase; the CFO turnover rate among S&P 500 companies rose by 19%. The report attributes the wave of departures to heavier workloads, expanded scope of responsibilities, pressure from boards and investors, as well as retirement and role burnout. The proportion of female CFOs fell from 26% in 2024 to 21%.
The U.S. unemployment rate fell to 4.3% in February, with nonfarm payrolls adding 130,000 jobs, far exceeding expectations. The healthcare sector added 82,000 jobs, the largest increase since 2020. However, the financial services industry cut 22,000 jobs, and the average monthly job growth for last year was revised down to 15,000, indicating lingering concerns in the labor market.
Tax experts say that thanks to major tax law provisions effective January 1, 2026, the U.S. corporate tax outlook is clearer than in recent years. The One Big Beautiful Bill and the 2017 Tax Cuts and Jobs Act together establish a stable tax system, allowing companies to develop multi-year tax strategies. However, the complexity of the new rules also requires companies to strengthen tax modeling to address potential risks.
JM Smucker announced on Tuesday a restructuring of its senior leadership, eliminating the Chief Operating Officer role, creating a new Chief Technology Officer position to oversee AI strategy, and adjusting the duties of five executives to drive growth and profitability.
U.S. retail sales were unexpectedly flat in December, following a 0.6% increase in November. Census Bureau data aligns with recent surveys, showing consumers entering the new year with subdued sentiment. Several Federal Reserve officials expressed divergent views on the economic outlook, while household debt delinquency rates climbed to their highest level since 2019.
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.