FEI Weekly

November 15, 2017

EY, Deloitte and PwC are embracing AI, GE cuts board members, and a leadership lesson from LinkedIn.

How Did Sexual Harassment Become a Fixture of Work Life on Capitol Hill?

New York Times - Paywall

In more than 50 interviews, lawyers, lobbyists and former aides told The New York Times that sexual harassment has long been an occupational hazard for those operating in Washington politics. Those coming forward are putting pressure on the Office of Compliance, the legislative branch’s in-house adjudicator.

GE to Shrink Board

TheStreet

GE said at its investor day presentation that 12 directors will be on the slate at the April 2018 shareholders meeting, including three new directors, meaning that nine current directors will be departing. A company with fewer directors tend to outperform their peers as small boards "foster deeper debates and more nimble decision-making," according to a 2014 study. The move may also save GE some money on directors' fees.

Early Revenue Recognition Adopter Alphabet Gives Update

Compliance Week - Paywall

Amie Thuener, vice president and chief accountant at Alphabet, the parent company of Google, reported little differences in timing and pattern of revenue recognition after adopting the new-five step method. Early adopters of the new standard tend to be big companies with little change to their reported revenue numbers, but more substantial change to disclosures.

How AI is Transforming the Tax and Auditing Business

Forbes

At a meeting earlier this month, the committee agreed to schedule a legislative fly-in this spring to influence Congress on the need to address the tax treatment of private companies and raise awareness of FEI as the voice in Washington for financial executives. Committee members will meet face-to-face with representatives, senators and their staff involved in tax legislation on Capitol Hill.

LinkedIn CEO's Leadership Lesson Will Surprise You

Inc.

When a LinkedIn employee realized she'd miss an in-person meeting with her CEO while on vacation, she tacked a picture of herself to her computer and left a note expressing her regret that she missed the opportunity to chat with him about her role. CEO Jeffrey Weiner noticed the note and sent her a snap of himself at her desk. The image went viral and many are applauding a CEO for recognizing the value of time away to unplug and recharge.