CFOs are in a pickle. The efficiency side of their brains wants to incorporate AI, but the risk side is flashing red.

A new survey from Kyriba, a finance AI platform, interviewed 1,000 CFOs and found 96% are prioritizing integrating AI—even though many still have major concerns about doing so.

AI often functions like a “black box,” creating uncertainty about how it arrives at its final outputs. Additionally, there are concerns around data privacy and security, as well as whether AI complies with regulatory standards.

But even with these risks, it seems like the promise of improved efficiency is winning out; according to the study, 86% of CFOs are already using AI in some or most aspects of their job.

So how should companies and CFOs prepare for AI adoption to mitigate risk?

Black box. According to Bob Stark, global head of enablement at Kyriba, there are ways to combat these concerns that could ease CFOs’ discomfort with integrating AI.

So how are CFOs balancing AI risk and efficiency?—JK

Connecticut is set to become the latest state to scrap accounting’s maligned 150-hour rule.

Legislators approved a bill in late May that would create additional pathways for accounting students to obtain their CPA licenses. The bill awaits the governor’s signature to become law. (Some of you may remember the old School House Rock jingle.)

If signed into law, the new requirements will become effective Oct. 1.

According to a legislative analysis, the bill would allow Connecticut CPA hopefuls to obtain their license in a few ways. One is by obtaining a Bachelor’s degree with “an appropriate accounting concentration” and logging two years of work experience. Another option is to complete an additional 30 college credit hours on top of that degree and work for one year. The third way is to earn a postgraduate degree and obtain a year of work experience.

Current law requires an additional 30 credit hours (hence the term “150-hour rule”) plus two years of work experience.

Continue reading here.—AZ

The US trade deficit shrank by a near-record 55% in April, data from the Commerce Department shows.

But there are a couple of huge “buts” there.

The trade deficit grew to a record monthly high of $138.3 billion back in March, as companies rushed to import goods ahead of the Trump administration’s tariffs. Seen in that light, April’s results appear more like a correction of a spending spree rather than a lasting change.

In fact, this April’s trade deficit is 65.7% higher than it was back in April 2024. And so far, 2025’s trade deficit is wider than 2024’s. During January to April last year, the trade deficit was $273 billion. During that same period this year? It was $452 billion.

Pharma, auto, and industrial pullbacks: Imports of goods and services shrank by 16% in April. US companies slashed their spending on imported consumer goods by nearly a third, to $69.9 billion. In particular, they imported far fewer pharmaceutical preparations, or finished drugs, which the Commerce Department classifies as consumer goods. Imports of those drugs were down by $26 billion.

Spending on imported industrial supplies and materials fell $23.3 billion, while imports of autos and auto parts dropped by $8.3 billion.

For more on trade imbalances, click here.—CV