Latest news with #CFO
Yahoo
8 hours ago
- Business
- Yahoo
Is private equity's pushback on the CPA credential a regulatory issue?
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Amid the growing influence of private equity across business — particularly in public accounting — a quiet but consequential trend is beginning to ripple through the profession. Licensed CPAs who don't work in audit or attest roles are being told to remove CPA from their email signatures, business cards and LinkedIn profiles. In some cases, the directive is not coming from private equity owners, but from state boards of accountancy. It's the regulators who are pressing firms to limit the use of the CPA title among licensed professionals in non-attest roles. State boards have expressed concern that CPAs in advisory or consulting positions may inadvertently mislead clients by signaling regulatory oversight where none applies. Regulators worry the public may assume anyone using the CPA title is providing services under the oversight and standards of a licensed audit practice, even when that's not the case. These interventions are often prompting firms, particularly those with private equity structures, to adopt dual-entity models that separate audit and non-audit functions, thus stripping CPA titles from certain professionals accordingly. Firm leaders often cite regulatory caution and legal risk as justification, concerned that clients may assume all services are being performed by professionals working under the CPA license. But the move is sparking backlash among some accounting leaders and raising broader questions about the long-term value of the CPA designation itself. Many CFOs already feel the CPA has been devalued, whether due to burdensome licensure requirements, changes to the exam structure or the limited appeal of public accounting careers for young talent. Now, the rise of private equity ownership and intensifying regulatory scrutiny is introducing a new layer of complexity for CPAs inside firms and for the finance leaders who rely on them. The practice of splitting CPA firms into the dual entity model — one that performs audit work and another that handles advisory or consulting services — is not new, especially among firms with private equity backing. This structure allows firms to navigate ownership rules that prohibit non-CPAs from owning audit practices. However, according to commentary shared on an Accounting Podcast episode from early last month, at least one state board of accountancy has begun pressuring firms to prevent licensed CPAs on the non-attest side from using the 'CPA' title publicly. Blake Oliver, co-host of the podcast, said a listener of the podcast who works at a private equity-backed firm confirmed the decision to restrict CPA usage came in response to this regulatory scrutiny. State boards, the listener told Oliver, are concerned the public could be misled if credentialed staff appear to be offering services under the CPA umbrella when they are technically working outside the regulated audit entity. Oliver also included a statement from AICPA CEO Mark Koziel, who defended the value of the credential and expressed concern over firms limiting its use. 'We support the use of CPA to everyone who has gone through the process of becoming licensed. As I've heard in my listening tour, the passion behind CPA is evident,' said Koziel. 'The CPA and what goes with it — integrity, accountability, objectivity, competence — is the value that we bring to the market, to our clients and to communities. It's what creates trust in firms of all business models, including alternative practice structures.' Oliver said the decision to have non-audit CPAs drop the title may be a countermove from firms against regulation. 'Private equity is calling [the regulators'] bluff,' he said on the episode. 'Private equity is saying, 'well fine, you give us a hassle, we're just not going to call ourselves CPAs period'.' The implications of this challenge have the potential to go beyond firm branding or regulatory semantics. In a recent op-ed in the Journal of Accountancy, AICPA public accounting CEO Susan Coffey warned that the move could undercut recruiting efforts and damage the pipeline. She delivered a message to private equity-backed accounting firms who are limiting the use of "CPA" saying it sends the wrong message to the next generation of accountants. 'This isn't just an issue for current CPAs,' wrote Coffey. 'There could be unintended consequences for our future talent.' Coffey cited a 2023 study by the Center for Audit Quality that found 82% of accounting majors view the CPA license as extremely or very valuable to their career goals. 'Why would a young professional work hard to acquire the CPA, only to have their employer tell them they can't use it?' she wrote. That disconnect between what firms expect of their staff and how they represent them risks weakening one of the profession's fundamentally vital recruitment and skill-building tools. Not only do many CFOs credit their time in public accounting to learning the intangibles of the job, but for many students and early-career accountants, the license is more than a regulatory hurdle. It can be a symbol of credibility, achievement and long-term opportunity. If firms appear to undervalue the credential, some, like Coffey, worry that fewer students will choose accounting in the first place. And while private equity backers may be focused on risk mitigation and compliance, the oversight leaders say the shift could inadvertently damage the profession's public standing. 'We work with market permission,' Coffey wrote. 'CPA licensure helped build that market permission. And that permission equates to tremendous value for us as individuals, for the businesses we work in and serve clients in and for the CPA profession.' This story is ongoing, and we will publish additional findings as we continue to reach out to CPA society leaders for their input. Recommended Reading How CPA licensure changes are affecting CFOs and accounting talent Connectez-vous pour accéder à votre portefeuille
Yahoo
9 hours ago
- Business
- Yahoo
CFOs On the Move: Week ending May 30
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Due to family reasons, will step down as finance chief of Vertiv, a critical digital infrastructure and continuity solutions provider. A search will be launched for Fallon's successor. Fallon, who has been CFO since 2017, will retire once his successor is named and assumes the role, which is expected in the second half of the year. To help with the transition, Fallon will work as a consultant on his retirement date and through Dec. 31, 2026. Athenahealth appointed Tom Cowhey as the health IT company and electronic health record vendor's new chief financial officer, effective June 9. Cowhey was most recently the CFO of the health care company CVS Health. Before that, he was CFO at Surgery Partners, an independent operator of short-stay and ambulatory surgical facilities. He previously held several roles at Aetna, including as chief financial officer of Aetna's U.S. health plan business. Cowhey replaces John Hofmann, who stepped down late last year. The company operated with an interim finance chief while it searched for his successor. will take over as finance chief of Elanco Animal Health on July 7. VanHimbergen is currently CFO of Hillenbrand, a role he has held since March 2022. He earlier spent 15 years at Johnson Controls, where he held several financial leadership positions, including as CFO of its $9 billion automotive interiors business in China, and led the battery division in Asia. He started his career at PricewaterhouseCoopers, where he spent almost 10 years working with multinational companies. VanHimbergen succeeds Todd Young, who will stay with the company as an adviser through Aug. 31. Lyra Health, a workforce mental health benefits provider, named as CFO, effective June 16. Beaver joins the company from the medical aesthetics company Evolus, where she has been finance chief since 2022. Before that, she was senior vice president of finance at Experian. Earlier, she spent 16 years at global gaming company IGT, where she held several roles, culminating in CFO of its North America gaming and interactive business unit. was appointed finance chief of MindMed, a biopharmaceutical company that develops products to treat brain health disorders. Roberts was most recently the chief financial officer of Longboard Pharmaceuticals, where she helped lead it through its IPO and its $2.6 billion acquisition by Lundbeck in 2024. She has earlier held CFO roles at Lineage Cell Therapeutics, REVA Medical and Mast Therapeutics, and held senior finance positions at Alphatec Spine, Artes Medical, Stratagene and Pfizer. Urgently promoted to chief financial officer of the digital roadside and mobility assistance technology and services provider. Port, who was previously senior vice president of finance, will take over as CFO on June 6. Port was previously vice president of finance and controller of electric vehicle manufacturer Lordstown Motors. After that, he consulted with Nu Ride, which was Lordstown Motors' successor company created as part of its emergence from bankruptcy restructuring. He was previously the CFO of LED lighting products manufacturer Energy Focus. Port replaces Timothy Huffmyer, who is stepping down to pursue other opportunities. was promoted to finance chief of Jack in the Box. Hooper has held several positions over her almost 25-year career at the restaurant company, most recently as senior vice president and controller since December 2022. She has also been serving as its interim principal financial officer since October 2024, a role she has previously held two other times during her tenure. She started her career at KPMG, where she worked for seven years, most recently as a senior manager. Omnidian appointed as the solar power servicing company's new chief financial officer. Fein previously held CFO roles at free wireless phone service provider TextNow, continuous automation software provider Chef Software and RFID devices and software maker Impinj, where he guided its 2016 IPO. Fein is the founding chair of the Seattle Tech CFO community and global chair of the senior finance executive network The F Suite. Industrial technology manufacturing company Littelfuse hired as CFO, effective June 18. Khandelwal joins the company from global industrial company IDEX, where he was most recently the chief financial officer. He earlier held chief financial officer roles at packaging services and label solutions provider Multi-Color and global manufacturer CIRCOR International. He started his career at GE Appliances, where he held several positions over almost eight years, including as an FP&A manager and commercial finance manager. Khandelwal succeeds Meenal Sethna, who will stay with the company as a strategic adviser.
National Post
a day ago
- Business
- National Post
Canada Goose Announces Participation in the Baird 2025 Global Consumer, Technology and Services Conference
Article content TORONTO — Canada Goose Holdings Inc. (NYSE, TSX: GOOS) today announced that it will participate in the Baird 2025 Global Consumer, Technology and Services conference being held at the InterContinental New York Barclay in New York, NY on June 3, 2025. We will host a fireside chat presentation at 3:45 pm ET and participate in one-on-one meetings. Neil Bowden, Chief Financial Officer will attend the conference. Article content Article content The fireside chat presentation will be webcast live on our investor relations website, An archived webcast will be available after the conclusion of the presentation. Article content Article content Article content Article content Article content
Globe and Mail
a day ago
- Business
- Globe and Mail
Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) (" Group Eleven" or the " Company") is pleased to announce the appointment of Jasmine Lau, CPA, as Chief Financial Officer (" CFO") of Group Eleven, replacing Jeannine Webb, effective May 30, 2025. Jasmine is a Vancouver-based Chartered Professional Accountant with over 16 years' experience in the resource sector, having served as the Chief Financial Officer for several mineral exploration companies. She is currently the CFO of Minaurum Gold Inc, Forte Minerals Corp., and Cascadia Minerals Ltd. Prior to that, Jasmine also served as CFO to a various number of other private and public mineral exploration companies. "On behalf of Group Eleven and its Board of Directors, I am very pleased to welcome Jasmine to the team," stated Bart Jaworski, CEO. "Jasmine's appointment brings a wealth of relevant experience and skills to the Company. I would also like to sincerely thank Jeannine Webb for her valuable contributions and dedication to the Company over the past three years." About Group Eleven Resources Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland. Additional information about the Company is available at ON BEHALF OF THE BOARD OF DIRECTORS Bart Jaworski, Chief Executive Officer E: | T: +353-85-833-2463 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Yahoo
a day ago
- Business
- Yahoo
Directorate change
LONDON, May 30, 2025--(BUSINESS WIRE)-- Next 15 Group plc ("Next 15" or the "Company") Confirmation of director changes Next 15 Group plc, the tech and data driven growth consultancy, today announces that with effect from 30 May 2025 Peter Harris will cease to be a Director. This follows the announcement on 30 January 2025 that Peter Harris had informed the Company of his intention to step down from the Board and from his role as CFO. As announced on 26 March 2025, Mickey Kalifa will become CFO of the Group and be appointed to the Board with effect from 1 June 2025. For further information, please contact: Next 15 Group plc Tim Dyson, Chief Executive Officer Via MHP Deutsche Numis (Nomad & Joint Broker) Mark Lander, Hugo Rubinstein +44 (0)20 7260 1000 Berenberg (Joint Broker) Ben Wright, Mark Whitmore +44 (0)20 3207 7800 MHP (Investor Relations) Simon Evans, Eleni Menikou, Veronica Farah Next15@ +44 (0)7812 590 682 View source version on Contacts Next 15 Group plc Sign in to access your portfolio
