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Sustainability accounting can help companies measure how environmental and social initiatives contribute to financial performance, rather than treating ESG primarily as a reporting and compliance exercise. CPAs and finance teams can improve decision-making by integrating sustainability data with financial systems and tracking both tangible benefits, such as lower energy, water, and waste costs, and intangible benefits, including employee retention, risk mitigation, customer loyalty, and innovation. The NYU Stern Center for Sustainable Business has developed the Return on Sustainability Investment (ROSI) framework to identify, quantify, and monetize these benefits. Its analyses have linked sustainability initiatives to significant financial gains, including a $235m annual EBIT contribution from one automotive company’s waste-management strategies, $34m in annual retention and productivity benefits at REI, and high-margin net returns of $1.8m-$1.9m from circular product offerings at Reformation and Eileen Fisher. However, CPA Journal says companies still lack robust sustainability data, integrated accounting tools, and processes for incorporating the full financial value of sustainability initiatives into investment decisions.

 

CPA Journal

Apple chief executive Tim Cook has stepped down after 15 years in the role. John Ternus takes over as CEO as the company enters a new leadership era. In a final memo to employees, Mr Cook said he had “enormous comfort” in Mr Ternus’s leadership and praised his ability to build products, while reflecting on a tenure that included the launch of the Apple Watch and AirPods and major expansions of the iPhone, iPad and Mac ranges. Mr Cook is remaining at Apple as executive chair, where he will continue to oversee relationships with governments around the world, including the U.S. and China. Meanwhile, Phil Schiller, head of Apple's App Store, has stepped down from his position. Responsibility for the day-to-day operations of the App Store move to Carson Oliver, a 14-year Apple veteran who has spent his entire tenure working within the App Store division. The App Store is also being moved from Apple’s marketing department into its services division, which is headed by Eddy Cue.

 

TechCrunch

Bloomberg

Wall Street Journal

Exelon CFO Jeanne Jones will become executive vice president of finance and strategy on October 5, reflecting the growing strategic responsibilities of finance leaders. Jones, CFO since 2022, will continue overseeing financial activities while helping guide long-term strategy, capital allocation and operational execution. Robert Kleczynski, currently controller and head of tax, will succeed her as CFO. The change comes as Exelon faces rising electricity demand and pressure to invest in grid infrastructure while keeping customer bills affordable.

 

Fast Company

Rivian CFO Claire McDonough will join GE Vernova as finance chief, succeeding retiring CFO Kenneth Parks. McDonough will become a strategic adviser on November 1 before assuming the CFO role on January 1, 2027. Her package includes a $1m salary, $5m sign-on payment and $14.5m stock award. Rivian has named finance VP Derek Mulvey interim CFO while searching for a permanent successor. McDonough helped guide Rivian through its $13.7bn 2021 IPO.

 

Bloomberg Tax

CFO DIve

The SEC has increased examinations of investment firms behind special purpose vehicles (SPVs), asking registered investment advisers to demonstrate that their funds genuinely own, or have exposure to, shares in the private companies they market to investors. The heightened scrutiny follows investor complaints and increased promotion of SPVs around high-profile companies, including SpaceX and Anthropic, amid concerns about whether investors are receiving the exposure they expect. The SEC’s reviews can involve document requests and in-person examinations, and come as problems emerge in the sector, including a fund that promoted pre-IPO SpaceX exposure but later told investors the shares had been sold before public trading began.

 

Reuters

Wall Street Journal

Research from risk-modelling firm Verisk suggests as much as 62% of global losses from natural catastrophes are uninsured, and are expected to cost the world $450bn in a typical year.

 

Financial Times

Amazon has been sued by the Federal Trade Commission (FTC) and 22 states over allegations that it secretly inflated advertising prices for more than 1m advertisers, generating tens of billions of dollars in additional revenue. The lawsuit alleges that since 2018 Amazon has manipulated its real-time advertising auctions by introducing artificial bids that pushed winning prices higher, with further increases during major shopping events including Prime Day and Black Friday. Amazon has denied misleading advertisers and said the FTC “fundamentally misunderstands” its advertising system, arguing that its approach to prioritizing ad relevance saved advertisers more than $8bn between 2021 and 2025.

 

NPR

Reuters

San Francisco Chronicle

Washington Post

President Donald Trump has called on Congress to move quickly to establish a federal production incentive for film and television, backing a bipartisan effort intended to counter the movement of entertainment work to countries including Canada, Australia, and the United Kingdom. A bipartisan group of House members could introduce legislation as soon as September, with Mr. Trump endorsing the initiative being developed by actor Jon Voight and entertainment industry leaders. The proposal has also received support from the Motion Picture Association, entertainment unions, and lawmakers including Rep. Laura Friedman (D-CA) and Sen. Adam Schiff (D-CA), who argue that a national incentive could make the U.S. more competitive for productions and support domestic jobs. Many states already provide their own incentives, including California, which increased its program to $750m annually last year, but industry advocates are seeking a federal measure to address competition from overseas.

 

The Hollywood Reporter

NBC News

New York Times

Politico

The IRS collected a record $5.3tn in federal tax revenue in fiscal 2025, up 13.2% from fiscal 2023, even as enforcement activity weakened amid substantial workforce reductions, according to TIGTA. Examination and collection staffing fell from 27,217 employees at the end of fiscal 2024 to 19,612 at the end of fiscal 2025, contributing to a 30% decline in individual examination starts, while examinations of taxpayers earning more than $400,000 fell 27%. Enforcement revenue declined from a record $98.7bn in fiscal 2024 to $93.8bn in fiscal 2025, while proposed additional taxes from examinations fell to $26.8bn from $31.9bn in fiscal 2023. TIGTA warned that the effects of workforce reductions could become more apparent over time, with the IRS also exhausting its remaining Inflation Reduction Act enforcement funding at the end of 2025.

 

Bloomberg Tax

Accounting Today

Journal of Accountancy

New York Times

U.S. Treasury Secretary Scott Bessent has pushed back against concerns over rising government debt and bond market turbulence, arguing that the U.S. bond market has been the best-performing among global peers this year and that continued economic growth puts the country in a stronger position than many other advanced economies. The benchmark 10-year Treasury yield ended Friday at around 4.73%, with Mr. Bessent attributing recent upward pressure on yields partly to higher energy prices and inflation stemming from the Iran conflict, which he expects to ease over time. He has also defended plans to at least double buybacks of longer-dated Treasury debt to $4bn per operation from September 10th, saying the measure is designed to reduce volatility and prevent disorderly market moves, rather than influence bond prices.

 

Reuters

Core Scientific has secured $600m in senior secured credit facilities, which include a $100m revolving credit facility and a $500m letter of credit facility. The revolving credit facility will support general corporate purposes and working capital, while the letter of credit will provide credit support for specific project obligations. The facilities are guaranteed by certain wholly owned domestic subsidiaries and secured by a first-priority lien on the company's assets. Jim Nygaard, chief financial officer, said: “The facilities are expected to release approximately $300m of restricted cash, meaningfully improving our capital efficiency and financial flexibility as we pursue opportunities in a dynamic and rapidly evolving industry.”

 

ABL Advisor

Catherine Shakespeare, the newest member of the FASB, emphasizes the need to address the “pain points” in U.S. financial reporting. With a focus on corporate and investor feedback, she aims to simplify complex accounting rules, particularly in areas like cryptocurrency and private credit. Shakespeare's appointment comes at a pivotal time as the board seeks to refresh its agenda in response to public concerns about the opacity of existing guidelines.

 

Bloomberg Tax

Ernst & Young’s U.S. division will invest $100m in employee rewards during the current fiscal year to recognize skills including adaptability, innovation, judgment, and effective experimentation with artificial intelligence (AI). Employees can receive spot awards of up to $500, while individuals and teams making major contributions can earn between $10,000 and $25,000, five times the previous award maximum. The initiative forms part of a broader effort to reshape training and development as AI changes professional services, with EY emphasizing the critical thinking and human capabilities needed to complement the technology. The firm has also expanded AI training and career development programs, while reporting that its AI-related revenue increased 30% year over year in 2025.

 

CBS News

Wall Street Journal

Procter & Gamble chief executive Shailesh Jejurikar’s pay rose 94.5% to $17.9m in the year ended June, following his promotion to CEO in January, while median employee compensation fell 13.7% to $68,600. The company’s CEO-to-worker pay ratio increased to 278-to-one from 276-to-one as P&G continued a restructuring program that has cut 5,000 jobs, reducing its workforce by 4.6% to 104,000. P&G reported annual profit of $16bn on sales of $87bn, while organic sales growth slowed to 1% from 2% in the prior year.

 

Cincinnati Enquirer

AICPA is reviewing proposed changes to its independence rules for accounting firms using alternative practice structures, as private equity investment and growing reliance on third-party technology reshape the audit profession. Christina Ho, a former PCAOB member and current chief assurance officer at Oath Verified, has warned that the proposals remain unclear about when licensing artificial intelligence (AI) audit technology could create an independence conflict, potentially disadvantaging smaller firms and technology startups that cannot develop tools in-house. AICPA’s ethics task force has revised its proposal to consider whether outside investors have significant influence or control when assessing independence, and it plans to re-expose updated guidance in October or November before expected adoption next May. Ms. Ho has called for greater participation from technology companies to ensure new rules protect auditor independence without creating unintended barriers to AI adoption and external investment.

 

Accounting Today

Unions representing nearly two-thirds of U.S. memory-chip maker Micron's Taiwan staff in Taoyuan and Taichung may strike unless the company overhauls its bonus system and shares more of its profits with workers. Taiwan is Micron's largest manufacturing base, and any stoppage could disrupt chip supply. Unions representing workers in the two cities say that they had nearly 10,000 members among Micron's roughly 15,000 employees there. More than 80% of surveyed members backed strike action, the unions said.

 

Reuters