Insight

Voice of the CFO highlights

KPMG convenes Fortune 250 CFOs to share experiences, exchange insights, and discuss leading practices.

Carl Carande

Carl Carande

Global Head of Advisory & U.S. Vice Chair, Advisory, KPMG U.S

+1 212-909-5650

Voice of the CFO highlights

CFOs are approaching forecasting with agility and, increasingly, Artificial Intelligence

March 2023

CFOs conversed about current economic realities, the complexities of forecasting, and how technology and talent strategies can help alleviate some of the pressures.

Featured speakers: Sanjay Sehgal, Advisory Principal, Head of Markets; Ken Kim, KPMG Senior Economist; and Brianne Lumley, Managing Director, Human Capital Advisory.

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From talent to taxation, CFOs have a lot on their minds

November 2022

Ongoing concerns about the economy and potential recession were top of mind for CFOs.  Efforts to align with economic realities include aggressive cost-cutting, especially in the supply chain; new recruiting and retention strategies; and intensive preparation for imminent climate change reporting and taxation requirements. Regarding to the latter, they are focused on bond depreciation and research and development expenses. 

Featured KPMG speakers: Carl Carande, U.S. Vice Chair and Global Head of Advisory and Jennifer Acuna, Tax Principal from the KPMG Washington National Tax office.

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Volatility at home and abroad

October 2022

From ongoing staffing challenges to geopolitical instability, CFOs are faced with volatility on all fronts.  In regard to workforce pressures, KPMG Chief Economist Diane Swonk shared that, although there has been some movement toward pre-pandemic levels of participation, the U.S. still ranks 9 to 10 percentage points lower than Canada. A deep dive into the geopolitical arena focused on the long-term impacts of the Russia/Ukraine conflict and China’s tenuous position in the global economy.

Featured speakers: Carl Carande, U.S. Vice Chair and Global Head of Advisory; KPMG Chief Economist Diane Swonk; and Alex Kazan, Chief Commercial Officer, The Eurasia Group.

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Besieged by the dual threat of price and wage inflation

September 2022

CFOs are struggling to deal with the push/pull between price inflation and upward pressure on wages. On the one hand, consumers are curtailing their spending on everything from gas to discretionary items, struggling to pay their utility bills, and paying an average of ~$500 a month more for typical goods and services.  At the same time, the Great Resignation continues, and employees continue to have high expectations for compensation and work/life balance. CFOs are responding by implementing creative compensation arrangements and paying closer attention to insights gleaned from exit interviews.

Featured speakers: Carl Carande, U.S. Vice Chair and Global Head of Advisory; KPMG Chief Economist Diane Swonk; and Sanjay Sehgal, Advisory principal/head of markets.

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Staying on track in a tumultuous economy

June 2022

Even with over-the-top headlines on potential recession, CFOs noted that the job market and low unemployment are still favorable to consumers. At the same time, economists cautioned that inflationary pressures would likely not subside until labor shortages, production constraints, and shipping delays are resolved.  CFOs are hyper-focused on evolving their approach to financial planning and analysis to deal with increased expenses and potentially take advantage of pricing opportunities.

Featured speakers: Carl Carande, U.S. Vice Chair and Global Head of Advisory; KPMG Chief Economist Diane Swonk; KPMG Senior Economist Tim Mahedy; and Sanjay Sehgal, Head of Markets, Advisory.

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Inflation-driven uncertainty abounds; many firms largely unprepared for the SEC’s ESG reporting requirements

May 2022

Ongoing wage pressures and employee retention challenges took a back seat this month to concerns about the SEC’s proposed climate reporting requirements. CFOs expressed deep concern about the amount of time and effort required to comply with SEC reporting rules given that most aren’t yet prepared from an operations or resource perspective.

Featured speakers: Sanjay Sehgal, Head of Markets, Advisory; Tim Mahedy, KPMG Senior Economist; and Maura Hodge, IMPACT audit leader.

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SEC’s proposed ESG rules are here; U.S. recession not on the horizon

April 2022

At the midway point of 2022, CFOs were focused on the SEC’s new and potentially burdensome reporting requirements regarding greenhouse gas emissions, cybersecurity policies, and controls. Many expressed the need for guidance on how to apply the new rules regarding aggregation and disclosure of individually immaterial cybersecurity incidents. The overall perception is that the U.S. economy remains firm and that warnings about recession are overstated.

Featured speakers: Carl Carande, U.S. Vice Chair and Global Head of Advisory; Maura Hodge, IMPACT audit leader; Erin McCloskey, Audit Partner; and Ken Kim, KPMG Senior Economist.

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Russia-Ukraine war disrupts supply chains, raises cyber threats

March 2022

CFOs are closely watching the Russia-Ukraine war and its potential impact on their businesses this month. There are widespread concerns about supply chain disruption, elevated energy and raw material prices, and potential cyber-attacks targeting companies and their suppliers. On the humanitarian front, CFOs are seeking ways to ensure the safety of local employees in Ukraine, help with refugee evacuation efforts, and deliver humanitarian aid where it is needed. Some indicated that they are considering temporary closures of operations in Russia or complete divestitures.

Featured speakers: Carl Carande, U.S. Vice Chair and Global Head of Advisory; Ken Kim, KPMG Senior Economist; and Kyle Kappel, Principal, Cybersecurity Services.

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Beyond COVID-19, inflation, labor, and supply chain challenges remain

February 2022

In the first CFO exchange of 2022, CFOs expressed a desire to put the biggest challenges of the pandemic behind them and focus on longer-term strategic investments in innovation, including automation and robotics.  At the same time, they continue to deal with fallout from the pandemic that includes inflation, labor shortages, and supply chain disruptions. Regarding the latter, some are working more closely with vendors and even venturing into “gray markets.”

Featured speakers: Carl Carande, U.S. Vice Chair and Global Head of Advisory; Ken Kim, KPMG Senior Economist; and Brian Higgins, Strategy and Operations Principal.

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Balancing long-term positivity with near-term reality

November 2021

KPMG hosted a cross-industry group of chief financial officers (CFOs) to discuss their most critical issues heading into 2022: the continued impact from the pandemic and new reporting requirements related to environment, social, and governance (ESG) matters. Carl Carande, U.S. Vice Chair and Global Head of Advisory, led the discussion; Constance Hunter, Chief Economist, and Rob Fisher, U.S. National IMPACT Leader, provided subject matter insights.

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Evolving legislation and resulting impacts to the U.S. environment

October 2021

KPMG hosted a cross-industry group of CFO to discuss the impact of the two major spending bills, investor guidance in the era of COVID-19 and how to comply with federal vaccine mandates. Carl Carande, global head of Advisory, hosted the call and was joined by Manal Corwin, principal in charge of Washington National Tax, and Mike DiClaudio, Advisory principal and workforce transformation leader. 

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Future landscape of business and how it has changed over the last several months

September 2021

KPMG hosted a cross-industry group of chief financial officers CFO to discuss uncertainty across the economic landscape, particularly in the areas of labor and wage inflation. Carl Carande, global head of Advisory, hosted the call and was joined by Robert Kahn, Eurasia Group’s director of Global Strategy.

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