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Organizations are increasingly struggling to manage cybersecurity risk as shrinking teams are tasked with overseeing rapidly expanding digital environments shaped by AI, automation, and cloud technologies. While many companies maintain formal frameworks and compliance structures, the reality is that governance capacity is not keeping pace with the scale and complexity of modern systems, creating a growing disconnect between perceived and actual control. A key shift is the rise of machine-driven risk, with bots, APIs, and AI systems now outnumbering human users and operating with limited oversight. These systems often lack clear ownership and governance, meaning risks can go unnoticed and accumulate over time. At the same time, reliance on dashboards and automated tools can create a false sense of security, masking gaps in accountability and operational control. Aaron Nicodemus argues that this “risk gap” is driven not by negligence, but by structural pressures, as organizations are expected to innovate, reduce costs, and meet regulatory demands simultaneously. Addressing the issue requires more realistic expectations from leadership, clearer accountability for automated systems, and better alignment between resources, risk tolerance, and operational demands.

 

Compliance Week

Most Finance Teams Are Piloting AI But Seeing Little Return  

52% of finance teams are in active AI pilots, yet only 1 in 5 report meaningful integration of AI into core processes. For CFOs, the pressure to move fast is real, but so is the risk of stalling in experimentation mode. A new CFO AI Roadmap outlines a structured path from pilot to practice, covering AI maturity assessment, governance, and prioritizing use cases across planning, forecasting, reporting, and close.  

Get the CFO AI Roadmap

 

BDO USA has announced that chief information officer Russ Ahlers will retire on September 1st after more than a decade in the role, with Jim Maza appointed as his successor following an external search. Mr. Ahlers, who has led the firm’s technology strategy since 2015, is credited with advancing digital transformation, cybersecurity, and data and artificial intelligence capabilities, while Mr. Maza brings over 20 years of experience in enterprise technology leadership as the firm continues to prioritize innovation and IT infrastructure to support growth.

 

City Biz

Salesforce-owned Slack is suing Microsoft in a U.K. lawsuit over alleged anticompetitive practices relating to its Teams app. A ​Slack spokesperson said the lawsuit was "because Microsoft's practices harmed ⁠competition, using tying and bundling of Teams to ​limit customer choice." A Microsoft spokesperson said the case ​lacks merit, adding: "Slack's lackluster growth, compared to Zoom and Teams, was based on inferior capabilities when COVID-19 hit in ​2020, and had nothing to do with Microsoft." ​

 

Reuters

The Supreme Court appears likely to back Cisco's push to dismiss claims it was complicit in China's torture of members of the Falun Gong religious minority. A lawsuit claims the tech firm helped Beijing create an internet censorship program, known as the Golden Shield, that enabled the government to monitor and harm members of the movement, which is prohibited in China. The New York Times says the court’s decision could have broader implications for lawsuits seeking to hold companies liable for international human rights abuses.

 

Bloomberg Law

Export restrictions on critical raw materials have increased fivefold since 2009 despite continuing efforts by advanced economies to diversify their supply chains, according to the annual update of the OECD Inventory of Export Restrictions on Critical Raw Materials. Some minerals essential for energy systems, such as cobalt, manganese, graphite and rare-earth elements, saw particularly high exposure to export restrictions. OECD Secretary-General Mathias Cormann said: “Export restrictions can increase supply chain vulnerabilities in highly concentrated supply chains by limiting export volumes and driving up prices. Improving transparency on these measures is key to promoting more open and diversified markets for critical minerals, incentivising much needed investment to scale up production and promoting mutually beneficial partnerships with producer countries.”

 

Financial Times

OECD

Pernod Ricard and Brown-Forman have ended their proposed merger talks after failing to agree on deal terms, with both parties citing a combination of factors including valuation, debt structure and overall transaction economics. The discussions, which would have combined the world’s second-largest spirits group with the leading American whiskey producer, were mutually terminated in what the companies described as being in shareholders’ best interests. During the process, Brown-Forman also attracted a competing approach from U.S.-based spirits group Sazerac, which has reportedly offered around $15bn, adding further complexity to negotiations. While the proposed Pernod transaction could have allowed the founding Brown family to retain a stake and influence in the combined entity, no agreement was reached.

 

Bloomberg

Financial Times

New York Times

Reuters

Grant Thornton U.S. has agreed to acquire its Australian sister firm, adding a business with $282m in revenue and nearly 200 partners as part of a broader private equity-backed strategy to consolidate its global network. The deal, which will create a combined firm with around 26,500 staff and $4.5bn in revenue if approved by partners, marks the latest move in a growing rivalry with Grant Thornton U.K. to scale international operations and compete more effectively for multinational clients.

 

Accountants Daily

Financial Times

President Donald Trump is seeking to introduce new import taxes after the U.S. Supreme Court rejected a previous tariff measure, in an effort to preserve a core element of his trade policy agenda. The ruling effectively halted the administration’s earlier approach, forcing officials to reconsider how to apply levies on foreign goods without running afoul of legal constraints. In response, Trump and his advisers are examining alternative frameworks that could achieve similar economic and political objectives while complying with the court’s decision, including restructuring how the taxes are defined or justified under existing law. The push underscores the importance of tariffs and trade barriers within Trump’s broader economic strategy, particularly as tools to protect domestic industries and exert leverage in international trade relationships. However, any new measures are likely to face continued scrutiny, both legally and politically, as courts, lawmakers, and trade partners assess whether the revised approach addresses the issues identified in the Supreme Court’s ruling.

 

US News and World Report

U.S. consumer confidence has risen slightly in April, supported by strong tax refunds and improved views on jobs and income, although concerns about inflation and geopolitical tensions remain. The Conference Board’s consumer confidence index increased to 92.8 from 92.2 in March, driven by a rise in expectations for the economy, while views on current conditions dipped marginally. Optimism was boosted by perceptions of a stronger labor market and household income prospects, even as higher oil prices linked to Middle East tensions continued to weigh on sentiment. Inflation expectations eased slightly but remained elevated, with consumers still facing high living costs influenced by tariffs and global conflict. Confidence trends varied by demographic and political groups, with younger consumers more optimistic than older cohorts, while overall sentiment remains fragile despite continued consumer spending resilience.

 

Reuters

US News and World Report

Canada has announced the creation of a C$25bn ($18.4bn) sovereign wealth fund, the “Canada Strong Fund”, aimed at financing major infrastructure and national projects while generating returns for citizens, as part of efforts to strengthen the economy amid U.S. trade tensions. The fund will partner with the private sector and support long-term investment, with plans to grow through reinvestment and asset recycling, marking a shift toward a more active industrial strategy under Prime Minister Mark Carney.

 

Financial Times

Reuters

Toronto Star

Lululemon has disclosed that its founder and major shareholder Chip Wilson has provided advice to rival athleisure brands Alo and Vuori, highlighting tensions in his ongoing dispute with the company’s leadership. Mr Wilson, who is pushing for board changes and has criticized management, said competitors had sought and adopted his guidance, while his spokesperson clarified he is neither a paid advisor nor investor in those firms. The revelation comes as Lululemon faces slowing growth, rising competition and investor concerns, with recent leadership changes and product issues adding to pressure on the business.

 

Bloomberg

The Boston Globe

The FASB has added a project to its technical agenda, allowing insurance companies to utilize the portfolio layer method (PLM) for hedge accounting on financial liabilities. The initiative aims to align financial reporting with risk management practices. The PLM enables entities to designate a portion of a closed portfolio of financial assets as the hedged item in a fair value hedge, effectively ignoring prepayment risk. The American Council for Life Insurers (ACLI) emphasized that this method would help mitigate interest rate risk and provide a clearer depiction of financial statements. FASB chair Richard Jones said: "One of the appeals of the portfolio approach . . . is it takes 'breakage' out of the equation." The board is considering whether these changes should apply solely to financial liabilities or extend to other types.

 

Accounting Today

KPMG has announced it will exit its U.S. federal government audit business following the loss of a major Pentagon contract, previously worth up to $64m annually, and will redeploy more than 450 staff to other roles within the firm. The move comes as the Department of Defense restructures its audit approach amid ongoing difficulties in securing a clean audit opinion for its roughly $840bn budget. A new auditor is set to take over broader responsibilities as part of efforts to meet a 2028 deadline.

 

Financial Times

International Accounting Bulletin

Forvis Mazars has laid off around 3% of its U.S. workforce, or approximately 250 employees, across audit, tax, and advisory functions as part of a restructuring to align staffing with lower-than-expected employee attrition. The firm said the cuts follow a review of business demand and talent needs, as it adjusts capacity after a period of overhiring across the accounting sector during the pandemic. The move comes two years after the creation of the Forvis Mazars global network, which reported $5.7bn in revenue for the year to August 2025, up 11%, with $2.2bn generated in the U.S.

 

International Accounting Bulletin

Wall Street Journal

The United Arab Emirates has announced it will leave OPEC and OPEC+ from 1 May 2026 to prioritise national interests, delivering a significant setback to the oil cartel during heightened global energy disruption caused by the Iran conflict. The departure removes a major producer with capacity of around 4.8 million barrels per day, potentially weakening OPEC’s ability to manage supply and stabilise prices, while Gulf exporters already face logistical challenges shipping through the Strait of Hormuz.

 

Al Jazeera

Financial Times