Five Things You Should Read

December 6, 2017

PCAOB releases staff guidance on the new audit reporting standard, and Bill Gates’ favorite books of the year.

Aetna's CEO to Move to CVS Board

WSJ - Paywall

Aetna CEO Mark Bertolini is set to pocket roughly half a billion dollars when he leaves his company if it successfully merges with CVS Health Corp. CVS CEO Larry Merlo has been tapped to run the combined company, and Mr. Bertolini won’t have an operational role but will have a seat on its board of directors.

Top CFO Objectives for 2018

CFO

Disruption, price increases, strategic plans focused on data, and increasing margins are all top priorities for CFOs in the coming year. Six CFOs from diverse industries reveal their top business objectives and how they got there.

Steinhoff CEO Resigns Amid Accounting Irregularities

Bloomberg

Steinhoff International Holdings NV CEO Markus Jooste quit as the company appointed auditor PwC to investigate auditing irregularities.The retailer has indefinitely delayed the release of financial results, which had been scheduled for Wednesday.

PCAOB Releases Staff Guidance on Audit Reporting Standard

Accounting Today

The guidance describes changes to the auditor's report required this year, such as the form of the auditor's report, disclosure of auditor tenure, a statement on auditor independence, and a required explanatory paragraph on internal controls over financial reporting in certain circumstances. The new standard take effect for audits for fiscal years ending on or after Dec. 15, 2017.

Bill Gates' Favorite Books of the Year

Fox Business

Bill Gates reads around 50 books each year and releases the titles of his 5 favorites on his blog. “The Best We Could Do,” by Thi Bui, “Evicted: Poverty and Profit in the American City,” by Matthew Desmond, and “Energy and Civilization: A History,” by Vaclav Smil are among them.