March 26 - TikTok hires first CFO | Fraud expected to remain high post-pandemic
March 26, 2021
Fraud expected to remain high even as pandemic eases; House panel flags $84 billion in potential fraud in PPP, other coronavirus crisis loans; A winning agenda for the CFO's first 90 days; Federal watchdog warns of potential crisis in post-pandemic U.S. fiscal health
Fraudulent loans under the PPP and another coronavirus aid program may total nearly $84 billion, with less than 1% recovered so far, according to a U.S. House panel.
Explore the consequences of improperly recognizing revenue and how finance execs can work with other departments to ensure positive business outcomes in this Trendline.
Best-in-class finance functions’ total costs are consistently in the range of 0.3% to 1.0% of sales, a benchmark for CFOs as they compare their finance function with that of peers on the basis of head count and costs.
The Government Accountability Office said U.S. debt, pushed up by $6 trillion in pandemic rescue spending, will hit a record high in 2028, increasing the odds of fiscal crisis.
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