Accounting News Roundup: CFO Backups (or Lack Thereof); Tax Cut Spoils; Check Your W-4 | 03.02.18

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Most Companies Have No CFO Succession Plan [CFO]
A Korn Ferry survey of 740 CFOs found that only 34 percent of them have a backup.

The JUST Capital Rankings on Corporate Tax Reform [Just Capital via NYT]
Nonprofit research firm Just Capital is collecting data on how corporations’ tax savings are being spent. Boeing, FedEx, JPMorgan, and Apple say they are giving 100 percent to some combination of workers, customers, products, communities, and jobs. Bank of America, Lowe’s, Home Depot, UPS, and Wynn Resorts, meanwhile, are giving at least 98 to 100 percent back to shareholders.

Why Mad Shareholders May No Longer Get a Day in Court [Bloomberg]
A rundown on the SEC’s rumored “warming up to the idea of forced arbitration.”

1 thing every employee should do in 2018 because of the new tax law [CNBC]
I know you’re busy, but consider filling out a new W-4 when you get a chance.

Accountant enters guilty plea for wire fraud, tax evasion [KRISTV]
File to Accountants Behaving Badly: Control yourself, man! Brian Perez, a CPA in San Antonio pleaded guilty to wire fraud and tax evasion. Perez had “defrauded his employer of $162,775 between March 2015 and August 2015.” $27k a month seems like a hasty pace of embezzlement, but maybe that’s just me.

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Previously, on Going Concern…

I revisited #envelopegate.

From the archives: Seasonal Tax Preparers Would Be Wise to Dismiss Drug Trafficking As an Option in the Off-season

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