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FEI Releases “AI Framework: Internal Control Over Financial Reporting” to Help Finance Leaders Adopt AI

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4 months ago

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Practitioner-built, principles-based guidance from FEI’s Committee on Corporate Reporting on how AI impacts Internal Control Over Financial Reporting (ICFR)

MORRISTOWN, N.J., June 25, 2026 /PRNewswire/ — Financial Executives International (FEI) today announced the release of the AI Framework: Internal Control Over Financial Reporting, a new whitepaper developed by FEI’s Committee on Corporate Reporting (CCR) to help companies integrate artificial intelligence (AI) into financial reporting while maintaining effective internal control over financial reporting (ICFR).

The framework was authored by a cross-industry group of corporate controllers, chief accounting officers, and accounting leaders from Fortune 100 and large public companies, with input from academia. It is intended to be a living document that will evolve alongside AI technology and regulatory expectations.

“As finance leaders race to capture the value of AI, they are being asked to do so without disrupting the reliability of financial reporting that markets depend on. This framework reflects exactly what FEI does best: convening the most respected practitioners in the profession to translate an emerging challenge into practical guidance. It gives finance teams a credible, principles-based starting point to adopt AI responsibly while protecting the integrity of their internal controls.”
— Andrej Suskavcevic, CAE, President and CEO, FEI

“AI doesn’t change management’s fundamental responsibility for effective internal controls — but it does change how we earn comfort over them. By focusing on validating outcomes, the framework gives companies practical control approaches they can put to work today, and a path to scale automation responsibly as their AI systems prove reliable over time.”
— Aaron Anderson, contributing author and CCR member

As AI moves rapidly from experimentation into core finance and accounting processes, management teams face a dual challenge: capturing AI’s efficiency and analytical benefits while preserving the reliability of financial reporting that capital markets depend on. The framework provides a practical, principles-based approach for identifying, scoping, and managing AI systems used in financial reporting — whether AI is embedded in a process or relied upon as a control — consistent with the Sarbanes-Oxley Act (SOX) and the COSO Internal Control – Integrated Framework.

Rather than attempting to audit the inner workings of “black box” AI systems, the framework emphasizes human oversight and outcome-based validation, and offers four business control approaches that companies can deploy individually or in combination:

Human-in-the-Loop (HITL): Integrating human intervention at strategic decision points to validate system outputs and manage model uncertainty.Performance Testing: Leveraging curated test data sets to compare AI system outputs against known “ground truth” results to ensure ongoing mathematical and logic accuracy.Multi-Model Validation: Using a systematic comparison between the primary AI system and an independent “challenger” model to identify variance and confirm reliability.Data Analytics: Employing advanced monitoring techniques to analyze system trends, identify anomalies, and ensure the AI operates within established guardrails.

The framework also addresses AI-specific risks such as hallucination, model drift, and algorithmic bias; provides guidance on SOX scoping and risk assessment; and outlines an outlier management and resolution process.

The AI Framework: Internal Control Over Financial Reporting whitepaper is not intended as legal guidance or advice, and it should not be relied upon for decisions that may raise liability concerns. FEI is not responsible for how companies or individuals use the AI Framework: Internal Control Over Financial Reporting. Where questions exist concerning possible legal ramifications, readers of the whitepaper should consult with appropriate legal counsel.

The complete Framework is available for $195.00 on the FEI website here.

About FEI’s Committee on Corporate Reporting (CCR)
The Committee on Corporate Reporting (CCR) is a high-powered, multi-industry committee of Financial Executives International composed of highly engaged Corporate Controllers and Chief Accounting Officers from Fortune 100 and large public companies. CCR focuses on engaging accounting standard setters and regulators and has a positive impact through comment letters and other advocacy, including direct engagement with the SEC, FASB, PCAOB, and the Big 4 accounting firms.

About Financial Executives International (FEI)
Financial Executives International (FEI) is the leading association and advocate for the views of corporate financial management. Its Members hold policy-making positions as chief financial officers, chief accounting officers, controllers, treasurers, and tax executives at companies in every major industry. FEI enhances Member professional development through peer networking, career management services, conferences, research, and publications. Members participate in the activities of local Chapters in the U.S. FEI is located in Morristown, NJ. Visit www.financialexecutives.org for more information.

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SOURCE Financial Executives International

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Club Offers for Travel Enthusiasts in Canada

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10 minutes ago

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October 23, 2026

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TORONTO, Oct 23, 2026 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO), the club for travel enthusiasts, announces three of many new Club Offers for Club Members in Canada.

Rigorously vetted and negotiated for us travel enthusiasts:

$799—COSTA RICA WEEK WITH FLIGHTS & CAR
We think fall is an ideal time to visit Costa Rica; the scenery is lush and the crowds are gone. Drive between volcanic Arenal and the idyllic beaches of Tamarindo on this seven-night trip. Since it’s not as busy, we were able to negotiate a price that saves members up to $648 on departures through mid-December.

$899—BARCELONA: 5 NIGHTS WITH FLIGHTS
Explore Barcelona’s world-class museums and architectural masterpieces in the quieter winter months to pack more into your trip. You won’t waste hours in lines and can access top restaurants that are fully booked in summer. We save $300 on travel this January and February, when temperatures are still spring-like. Roundtrip flights from Toronto, hotel and daily breakfast are included.

$999—ST. KITTS GETAWAY FOR 2, REG. $2083
Most visitors to St. Kitts book months in advance, but when we pointed out that travel enthusiasts are more spontaneous, this resort gave us a terrific rate for stays this November and December. Spend four nights in Frigate Bay and get an upgraded Oceanview room, too.

Are you a travel enthusiast? Join the club today: https://travelzoo.com

Who are we?
We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travellers. Club Members receive Club Offers negotiated and rigorously vetted by our deal experts around the globe. Our relationships with thousands of top travel companies give us access to irresistible deals. Our club and its benefits are built around the lifestyle of a modern travel enthusiast.

Media Contact: 
Amanda Ieraci – Toronto
+1 437 866 8540
aieraci@travelzoo.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/club-offers-for-travel-enthusiasts-in-canada-302918543.html

SOURCE Travelzoo

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Howard Hughes Holdings Set to Join S&P SmallCap 600

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1 hour ago

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October 23, 2026

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NEW YORK, Oct. 23, 2026 /PRNewswire/ — Howard Hughes Holdings Inc. (NYSE: HHH) will replace Arcosa Inc. (NYSE: ACA) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, October 28. S&P 500 constituent CRH plc (NYSE: CRH) has acquired Arcosa in a deal that closed today, October 23.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date

Index Name  

Action

Company Name

Ticker

GICS Sector

October 28, 2026

S&P SmallCap 600

Addition

Howard Hughes Holdings

HHH

Real Estate

October 28, 2026

S&P SmallCap 600

Deletion

Arcosa

ACA

Industrials

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/. 

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/howard-hughes-holdings-set-to-join-sp-smallcap-600-302918511.html

SOURCE S&P Dow Jones Indices

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Chelsea FC announces multi-year sleeve partnership with Sokin, the business payments and FX platform

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2 hours ago

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October 23, 2026

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Chelsea FC name fast-growing fintech platform as Principal Partner

LONDON, Oct. 23, 2026 /PRNewswire/ — Chelsea Football Club has today announced a multi-year partnership with Sokin, the embedded finance and payments company used by businesses worldwide. Sokin will be named a Principal Partner and Official Business Payments and FX Partner of Chelsea FC and Chelsea FC Women.

As a Principal Partner, Sokin will be represented on the sleeves of the Chelsea FC men’s, women’s and academy home, away, and third kits from the 2026/27 season.

The partnership brings together two ambitious London-headquartered organisations with worldwide reach – a club with millions of fans across the world and a fintech platform through which businesses move more than $11 billion a year. A club of Chelsea’s scale works in many currencies every day, with partners, competitions and supporters around the world, and needs a financial partner built to handle that.

Sokin gives finance teams business payments, multi-currency accounts, foreign exchange, checkout and treasury in one place, so they spend less time juggling banks and providers and keep more of what they move.

As Official Business Payments and FX Partner, Sokin will simplify how Chelsea FC sends, receives and manages money in the currencies the club operates in.

The Sokin logo will feature on the sleeve of the Chelsea shirt for the first time [when the men’s team host Tottenham Hotspur at Stamford Bridge on Saturday 24th October.]

Jason Gannon, President at Chelsea FC said:

“At Chelsea, we seek to partner with organisations that share our ambition and innovative mindset. Sokin’s expertise in business payments, and their focus on making both simpler for the businesses they serve, makes them a natural fit for the Club. We are pleased to welcome Sokin to the Chelsea family and look forward to working together in the years ahead.”

Vroon Modgill, CEO and founder at Sokin said:

“Chelsea plays on the biggest stage in world football, and its business runs in dozens of currencies. Sokin was built for that with regulated, multi-currency payments and foreign exchange for organisations that operate internationally. We’re proud to be the platform behind the business payments and FX of one of the most iconic teams in football. Sokin’s platform serves businesses in more than 170 countries. We’re thrilled to be partners for the season ahead. An organisation as sophisticated as Chelsea doesn’t leave its finances to chance.”

About Sokin

Sokin is the financial layer global business runs on. Businesses can transact, convert and hold money in 70+ currencies across 170+ countries. Some businesses use Sokin to manage global finance in-house. Others build it into their products to power financial experiences for their customers. Businesses move more than $9 billion a year on licenses Sokin holds in 36+ countries and infrastructure Sokin owns. Founded in 2019, Sokin has raised over $100 million from investors including Morgan Stanley Expansion Capital and Prysm Capital.

About Chelsea Football Club

Chelsea Football Club is one of the biggest, most successful football clubs globally and our men’s team are reigning world champions, having won the four-yearly FIFA Club World Cup in 2025. Our women’s team, Chelsea Women, are also multiple trophy winners.

Founded in 1905, Chelsea is London’s most central football club, based at the iconic 40,000-capacity Stamford Bridge stadium. Nicknamed the Blues, the club lifted the Champions League for the first time in 2012 and domestically has won the Premier League five times, the FA Cup eight times, the Football League Cup five times and the Football League Championship once, in 1955.

The Chelsea Women’s team have enjoyed a huge amount of success and in 2025 won the FA Women’s Super League for a sixth consecutive year and the eighth time overall. The Women’s FA Cup has been won on six occasions. We have also captured the FA Women’s League Cup four times as well as reaching the UEFA Women’s Champions League final in 2021. In two seasons, 2020/21 and 2024/25, a domestic treble of trophies was secured.

The Chelsea Foundation boasts one of the most extensive community initiatives in sport, helping to improve the lives of children and young people all over the world.

Media Contacts:

Taina Biggs
taina.biggs@sokin.com 

Nerissa Chesterfield
nerissa.chesterfield@chelseafc.com 

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