The big leadership stories of the year, House to revote today, and how AI will change finance forever.
House to Vote on GOP Tax Plan
In a vote in the early Wednesday morning hours, the Senate approved the final version of the first overhaul of the US tax code in more than 30 years. The House passed the bill earlier Tuesday, but technical changes were made to it in the Senate, and the bill will go back to the House on Wednesday for a revote, where it is expected to pass again. It will then head to the President's desk for his signature before the Christmas holiday.
Steinhoff Tells Lenders It Didn't Know Cash Flow of Operations
Steinhoff International Holdings NV said lenders are starting to cut off support after an accounting scandal swept out its leaders and destroyed most of its value in a matter of days. In a presentation to lenders on Tuesday, the retailer said it isn’t yet able to assess the magnitude of financial irregularities disclosed two weeks ago. The presentation shows that the company is still grappling with the task of getting to the bottom of the crisis.
The Link Between Low Tax Rates and C-Suite Firings
Because CFOs are often held accountable for the corporate tax function, they’re more likely to be fired when the company’s tax rate is significantly higher than those of their peers, according to a new study of the relationship between corporate tax rates and their job risks for the c-suite. The study also found that boards tend to reward CFOs and CEOs who deliver lower tax rates.
4 Ways AI Will Change Finance
Director of Finance
Digital assistants, automated forecasts, error-free data entry and automated analytics continue to penetrate the finance function and new data analysis skills must be part of the development and acquisition of finance talent. The more transactional roles will become less common, as the need for strategic thinkers with cross-functional knowledge and technology mastery goes up.
The Biggest Leadership Stories of 2017
Sexual harassment in the workplace, the exit of Federal Reserve Chair Janet Yellen, the disbanding of Trump business advisory council, and missteps at Uber all captivated our interests and provided lessons in leadership this year.