Thu.Jan 12, 2023

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Prioritizing Human Capital — Modern Challenges and the Board’s Role

Harvard Corporate Governance

Posted by Carey Oven, Michael Stephan, and Reem Janho, Deloitte LLP, on Thursday, January 12, 2023 Editor's Note: Carey Oven is National Managing Partner at the Center for Board Effectiveness and Chief Talent Officer, Michael Stephan is US Human Capital national managing partner and Reem Janho is Senior Manager at Deloitte LLP. This post is based on a Deloitte memorandum by Ms.

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Expense Management Tips for CFOs and Controllers

Redpath

CFOs and Controllers do more than crunch numbers, manage a company’s budget, and protect its financial assets. They must capture key performance indicators (KPIs) that can inform the future course of an organization, however, they cannot achieve this without timely, accurate, and complete data.

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SEC Rule 14a-8 Shareholder Proposals: No-Action Requests, Determinants, and the Role of SEC Staff

Harvard Corporate Governance

Posted by Gregory Burke (Duke University), on Thursday, January 12, 2023 Editor's Note: Gregory Burke is a fifth-year accounting Ph.D. candidate at Duke University’s Fuqua School of Business. This post is based on his article forthcoming in the Journal of Accounting and Public Policy. Background. Since 1947, no-action letters under Securities and Exchange Commission (SEC) Rule 14a-8 have allowed SEC staff members to regulate shareholder voice upon management’s request, acting as intermediaries b

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Blaze Bolsters E-Commerce Capabilities With Tymber, Plans Distribution Throughout North America

Benzinga

Blaze , a cannabis software suite and point-of-sale (POS) platform for cannabis dispensaries and delivery services, scooped up cannabis e-commerce provider Tymber for an undisclosed price. Founded in 2017 by tech entrepreneurs and cannabis company operators Blaze builds tools that serve the technology needs of successful dispensaries. "Acquiring Tymber brings its unparalleled online shopping experience into our ecosystem and allows us to meet the cannabis retailer.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Conducting Cybersecurity Risk Assessments Guide: The Complete Introduction

Audit Board

Cybersecurity risk assessments are a means for organizations to assess risks to their information assets and are a core requirement of most cybersecurity frameworks. However, specific guidance on how to conduct these assessments is typically not included in framework requirements. This is often by design, as the intent is to encourage organizations to build a risk management program that is unique to the type of business being conducted and the type(s) of data being processed.

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IRS Proposes Permanent Relief From Physical Presence Requirement for Certain Electronic Signatures

ThomsonReuters

Use of an Electronic Medium to Make Participant Elections and Spousal Consents, Prop. Treas. Reg. Sec. 1.401(a)-21, 87 Fed. Reg. 80501 (Dec. 30, 2022). Available at [link]. The IRS has released proposed regulations that would permanently allow remote witnessing of certain retirement plan and benefit elections, including those involving spousal consent, that are required under the Code to be witnessed by a plan representative or notary public.

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Subway's Potential Sale: Eat Fresh for $10 Billion or More

Benzinga

Sandwich chain Subway is exploring a potential sale that could value the company at more than $10 billion and has retained advisers. "As a privately held company, we don't comment on ownership structure and business plans," Subway said. "We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful.

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Toward a more orderly US energy transition: Six key action areas

Mckinsey and Company

The US drive to decarbonize is at an inflection point. Critical actions could accelerate the transition while enhancing energy affordability and supporting inclusive economic growth.

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GT Newsletter | Competition Currents | January 2023

National Law Review M&A

Greenberg Traurig's International Trade & Investment Practice Jurisdiction: All Federal Mexico Netherlands Poland Italy European Union Japan Type of Law: Global Antitrust & Trade Regulation Financial Institutions & Banking Mergers & Acquisitions Administrative & Regulatory

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New Law Ushers in Major Retirement Changes

Machen McChesney

There's been buzz about new retirement plan provisions for weeks, and now they're final, bringing about changes to various federal rules and adding flexibility for current and future retirees. The Secure 2.0 Act of 2022, part of the Consolidated Appropriations Act of 2023, includes the following modifications, some of which are immediate and others that will take effect in the future.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Rose Thompson Named Recipient of the 2023 St. Louis Titan 100

Butcher Joseph & Co.

Rose Thompson will be honored as a Titan 100 at the Titan 100 awards on April 6th, 2023, at The Factory, located in Chesterfield, Missouri. The post Rose Thompson Named Recipient of the 2023 St. Louis Titan 100 appeared first on ButcherJoseph & Co.

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Author Talks: A lifelong labor economist shares five steps for making better choices about money and love

Mckinsey and Company

Stanford professor emerita Myra Strober details her experience combatting workplace inequity and outlines the framework she teaches for answering life’s biggest questions—like whether to move, marry, or accept a job offer.

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Warren Calls On FCC To Reject Tegna Go-Private Deal

Law 360 M&A

Sen. Elizabeth Warren, D-Mass., urged the Federal Communications Commission to deny Standard General's bid to take broadcast chain Tegna private, calling the type of commitments they made to tamp down competition and job cut worries "historically ineffective.

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The complication of concentration in global trade

Mckinsey and Company

Concentration in the origins of traded products is widespread, prompting questions about whether to diversify or decouple.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Auditing in Accounting: What it is and how it works

ThomsonReuters

The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . In addition to helping businesses and individuals follow the required accounting standards and tax laws, accountants are increasingly capitalizing on new ways to utilize their knowledge and experience to make a positive impact on the clients they serve. .

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Subway Sandwich's Potential Sale, Walt Disney's CEO Faces New Challenge, Second Day of Flight Delays After System Outage: Today's Top Stories

Benzinga

Wall Street Journal. FAA System Outage Causes Second Day of Flight Delays. Wednesday morning Federal Aviation Administration (FAA) witnessed an outage of the system that sends messages to pilots. The delays persisted into a second day, Thursday. However, airlines moved to resume normal operations after the FAA temporarily paused domestic departures, which led to a backlog of flights and congestion.

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Cooking up extraordinary growth for restaurants during a downturn

Mckinsey and Company

These growth-boosting strategies can help restaurant businesses outperform during a uniquely challenging moment.

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New Norton Rose Partner Class Is 50% Female

Law 360 M&A

Norton Rose Fulbright achieved gender parity with its partner class this year, promoting an equal number of male and female attorneys across its U.S. and international locations.

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The risk is assessed as high. So what?

Norman Marks

While there may be a debate whether risk should be assessed using qualitative or quantitative measures, I believe that is answering the wrong question. Knowing what the level of risk is, even whether it is an unacceptable level of risk, is insufficient information. It doesn’t answer the questions of: Should I take the risk? How […].

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Valuation Multiples for Tire Dealerships

Peak Business Valuation

Demand for tire sales is expected to increase over the coming years. As such, now is a good time to enter the industry or prepare to exit. Whether you plan on buying a tire dealership or selling a tire dealership , understanding the value is important. When valuing a tire dealership, a business appraiser often uses valuation multiples for tire dealerships.

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Post-Acquisition Integration: Culture, Communication, and Operations

Midstreet Blog

If your company is generating more than $1 million in earnings, there’s a chance private equity groups and strategic buyers will express interest in an acquisition. In some cases, this acquisition will require your company to be integrated into another one. Post-merger (or post-acquisition) integration is one of the key factors determining whether an acquisition will succeed or fail.

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Venture capital funding in 2022 significantly decreased compared to 2021

Fox Corporate Finance

The ever-increasing venture capital funding for European life sciences companies halted in 2022. With a roughly EUR 9.6bn volume, the overall financing for European life sciences companies in 2022 decreased significantly compared to 2021 (EUR. Read more. The post Venture capital funding in 2022 significantly decreased compared to 2021 appeared first on FCF Fox Corporate Finance GmbH.

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Regal Investments Acquires Wall Street VPN for $12 Million

Benzinga

NEW YORK, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Regal Investments announced today that it has completed its acquisition of Wall Street VPN for $12 million. The VPN, which provides high frequency trading networks, has been a popular choice among online traders with around 2,000 monthly users in December 2022. According to CEO Roble Regal, the acquisition of Wall Street VPN is a strategic move that will add disruptive technology and techniques to the firm's portfolio. "We are excited to bring

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Mapletree, PAG Partner Buy Hong Kong Office For $713M

Law 360 M&A

Singapore-based real estate development company Mapletree and international investment firm PAG partnered to purchase an "iconic" Hong Kong office building for $713 million, the companies announced Thursday.

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How to create a remote work policy for your audit team

ThomsonReuters

Historically, auditors spent weeks out in the field holed up at the headquarters of the company undergoing an audit. However, sparked by the onset of the COVID-19 pandemic, which forced many companies to go remote essentially overnight, a growing number of firms are opting to remain remote , or at least hybrid. . Thanks to advancements in technology — such as cloud-based solutions, teleconferencing, data-sharing platforms, and drones with cameras — remote audits are possible as long as the righ

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All in the Family Limited Partnership

Auto Dealer Valuation Insights

In this week’s Energy Valuation Insights post, we share a recent piece from our Family Business Director blog on the topic of Family Limited Partnerships. While the post speaks directly to family-owned businesses, the content is applicable to many because the individual estate tax exemption reverts to $6 million in 2026 from its current level of $12 million.

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Why isn’t auditing automated? It is, and here’s the tech behind it.

ThomsonReuters

If you work in the professional services sector, you’re well aware of the rise of automation. For those of us in the tax and accounting profession, we’ve witnessed the amazing time savings and efficiency automation can bring—and audit is no exception. . Not so long ago, auditing in accounting meant spending long hours manually entering taxpayer data, sifting through loads of paperwork, and scrutinizing spreadsheets line-by-line.

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Deadpool's Ryan Reynolds' Mint Mobile in T-Mobile's Acquisition Crosshairs

Benzinga

T-Mobile US, Inc (NASDAQ: TMUS ) weighed acquiring " Deadpool" star Ryan Reynolds -backed budget wireless provider Mint Mobile. Reynolds owns about 25% of the company, Bloomberg reported. Mint Mobile offers budget cell phone plans on the T-Mobile network starting at a monthly plan of $15. Reynolds became a. Full story available on Benzinga.com.

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How do you audit crypto? It starts with understanding how to report on it.  

ThomsonReuters

When it comes to cryptocurrency, there are many unknowns around accounting, audit and assurance. With a lack of universal guidance, crypto assets can easily be over or understated, making risks much higher. Adding to the complexity is the fact that most taxpayers are unaware of the potential tax consequences of crypto. . With more than 50 million taxpayers answering ‘Yes’ to the IRS Virtual Currency question on the front page of the 1040 form on their 2021 tax returns, there is a pressing need

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Benchmark International Successfully Facilitated the Transaction Between Herrington Consulting Limited and Environmental Protection Services Ltd

Benchmark Report

Benchmark International is pleased to announce the acquisition of Canterbury-based Herrington Consulting to Cambridge-based Environmental Protection Services ( EPS ). Established in 2005, Herrington Consulting offers a comprehensive service offering with expertise across four areas: flood risk management, surface water and drainage management, daylight and sunlight impact assessments, and coastal engineering and risk management.

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Understanding ESG audits: Checklist and best practices

ThomsonReuters

Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. One of these specialties is ESG audits. . What is ESG? Environment, Social and Governance (ESG) is a framework for evaluating risks and opportunities related to a company’s operational impact on the environmental, social issues, and governance factors. .

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FTC Orders Mastercard to Stop Using eWallet Tokenization to Avoid Pro-Competitive Routing Rules

Mogin Rubin M&A

Mastercard has entered into a consent order with the Federal Trade Commission following the Commission’s investigation into the payment network’s refusal to provide token conversion services to competing debit networks for online and in-app eWallet transactions. The Durbin Amendment to the 2010 Dodd-Frank Act sought to inject competition into the debit network market by requiring issuers to enable debit cards for at least two unaffiliated debit networks.

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Secure 2.0 Act of 2022 Introduces Key Changes for Workplace Retirement Plans

Trout CPA

The Consolidated Appropriations Act, 2023 ( Public Law No. 117-328 ) that was signed into law on December 29, 2022 by President Joe Biden includes the SECURE 2.0 Act of 2022, which introduces over 90 changes to the federal rules governing workplace retirement plans.

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Can an ERISA Plan Limit the Time a Claimant Has to File a Lawsuit for Plan Benefits?

ThomsonReuters

QUESTION: Can our ERISA employee benefit plans impose a deadline for participants or beneficiaries to file a lawsuit if they wish to challenge a final administrative determination under our plans’ claims procedures? ANSWER: Yes, plans can impose a deadline for filing lawsuits, if certain conditions are met. As background, essentially all legal claims must be filed within a certain period of time, referred to as a limitations period or, when established by law, a statute of limitations.