Connor Group

📣 Connor Group, Boomi, and a cohort of academic researchers collaborated to deliver 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭-𝐞𝐯𝐞𝐫 𝐞𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐫𝐢𝐬𝐤 𝐟𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐟𝐨𝐫 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐈 (𝐆𝐞𝐧𝐀𝐈) ⬇ Connor Group, along with: Boomi David A. Wood (Brigham Young University Marriott School) Scott Emett (Arizona State University W.P. Carey School of Business) Marc Eulerich (University of Duisburg-Essen Mercator School of Management) announce the 𝐆𝐞𝐧𝐀𝐈 𝐆𝐨𝐯𝐞𝐫𝐧𝐚𝐧𝐜𝐞 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤.   Built in collaboration with over 1,000 business leaders, academics, and industry bodies, the GenAI Governance Framework provides a detailed guide and comprehensive methodology for organizations of all sizes to assess their AI readiness, identify and manage enterprise risks associated with GenAI technologies, and move into responsible GenAI adoption. The framework can be easily customized to align with a company's unique objectives, needs, and risk appetite, and empowers those responsible for risk management and governance — such as Internal Audit, IT/CISO, Legal, and Audit Committees — to identify, evaluate, and proactively address high-priority exposures. It also provides a structured approach to pinpointing vulnerabilities and implementing controls, facilitating the secure and responsible deployment of GenAI technologies. “Effective AI adoption will be a massive competitive advantage but many don’t know where to start and how to apply it. A few AI tools exist now with many on the way, and they are coming fast. Having a smart AI adoption strategy with underlying controls, data, and processes that are ready for AI takes time. The most competitive companies are doing these things now," explained Jeff Pickett, Chair and Founder at Connor Group. Provided as a free resource, the GenAI Framework includes comprehensive documentation and a robust set of risk and control considerations. Framework implementation and consulting services offered by Connor Group allow businesses to evaluate their current governance practices, identify areas for improvement, and strategically plan for future enhancements. By assessing maturity levels across various control considerations, companies can gain insights into their own strengths and weaknesses and take targeted actions to bolster their AI governance. “Overall, the GenAI Governance Framework and accompanying Maturity Model serve as essential resources for organizations seeking to navigate the evolving landscape of AI,” said David A. Wood. “By adopting these tools, organizations can enhance their preparedness, resilience, and capability to harness the benefits of AI while effectively managing its risks.” For information about Connor Group AI and Automation services, please comment or send us a DM. To download the GenAI Governance Framework, visit the link in the comments.

How is your team navigating the intersection of 𝗔𝗜 𝗮𝗻𝗱 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲? The Compliance Week AI & Compliance Summit will explore the opportunities and challenges of AI’s growing role in compliance and governance. Connor Group’s AI expert Jason Pikoos will share insights on: ✔️ The importance of GenAI governance and responsible adoption ✔️ Key focus areas of GenAI governance ✔️ Practical steps and experiences If you’re on the East Coast, we hope you’ll join us! Register: https://lnkd.in/dn3sZ-gv. 📅 Jason's session is October 9 at 8:15 AM ET

Catch Niural’s CEO Nami Baral and Head of Data Science Peilu Z. speaking at the AI Panel Discussion at the Operators Guild dinner and mixer in Austin this coming Tuesday, alongside Tech Founder & Author Tiana Laurence, with Samarra Davis moderating. As AI pioneers and industry leaders, they’ll discuss the latest developments and technologies as well as their current and future impact. Huge thank you to Banc of California, Connor Group, and the Operators Guild for making this event possible! To learn more, visit: https://lnkd.in/gZjn-Ysk

What an incredible day at our Klarity Launching with AI conference in San Francisco! 🎉 We brought 250+ leaders in the accounting and operations space together to discuss how to strategically and responsibly incorporate AI into their organizations. Here are some of our key takeaways. * Unlock productivity and drive growth with GenAI by automating repetitive tasks, allowing your teams to upskill and focus on higher-value work. * To strategically plan for AI adoption, create a comprehensive roadmap that prioritizes automation initiatives and aligns with your organization's overall goals. * Engage in transparent discussions with auditors about GenAI early in the process to ensure a smooth implementation. Thank you to our sponsors Bough Consulting, Brex, CBIZ, Connor Group, Deloitte, PwC, Vaco and all of our speakers. 🗽 And with that...we are excited to announce that we are hosting our inaugural NYC Summit on 10/22 at the Classic Car Club! Register here: https://lnkd.in/dQR2WjTe

Is an 𝗜𝗣𝗢 𝗦𝗽𝗿𝗶𝗻𝗴🌱 in our future? Our survey data suggests that the recent IPO Winter may be ending. Here’s what we found ⬇️ In our recent private survey, we identified 81 active clients preparing and planning for IPO transactions in 2025 or 2026! This is a 𝗿𝗲𝗺𝗮𝗿𝗸𝗮𝗯𝗹𝗲 𝟯𝟰% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 📈 in IPO intention from our previous survey in January 2024. This meaningful increase is likely driven by 👉 improving stock market conditions, a building pipeline of deals, and positive feedback from investors and bankers. ------- PROFILE OF COMPANIES SURVEYED • Companies Reporting Plans to IPO:  81 • Total Capital Raised: $33B ($400M average) • Average Company Age: 10 years • Average Number of Employees: 700 This sample size is significant, representing one-third of the IPOs in a typical year (an average of 250 IPOs in the US over the last 20 years). -------- INDUSTRY BREAKDOWN 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆: 𝗠𝗮𝗰𝗵𝗶𝗻𝗲 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴, 𝗔𝗜, 𝗦𝗮𝗮𝗦, 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 💡 36% of all IPO intentions 💡 $13.4B in capital raised to date 𝗛𝗲𝗮𝗹𝘁𝗵𝗰𝗮𝗿𝗲: 𝗟𝗶𝗳𝗲 𝗦𝗰𝗶𝗲𝗻𝗰𝗲𝘀, 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗛𝗲𝗮𝗹𝘁𝗵, 𝗛𝗲𝗮𝗹𝘁𝗵𝗧𝗲𝗰𝗵 🧬 28% of all IPO intentions 🧬 $9.4B in capital raised to date 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗮𝗻𝗱 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 🛍️ 16% of all IPO intentions 🛍️ $3.5B in capital raised to date -------- Looking for support on your 𝗜𝗣𝗢 𝗷𝗼𝘂𝗿𝗻𝗲𝘆? We can help you ring the bell! 🔔 • Attend Connor Group IPO Summits • Visit the Resources page on our website for IPO guides • Connect with a Connor Group IPO Partner – reach out to info@connorgp.com, comment or DM

Is an 𝗜𝗣𝗢 𝗦𝗽𝗿𝗶𝗻𝗴🌱 in our future? Our survey data suggests that the recent IPO Winter may be ending. Here’s what we found ⬇️ In our recent private survey, we identified 81 active clients preparing and planning for IPO transactions in 2025 or 2026! This is a 𝗿𝗲𝗺𝗮𝗿𝗸𝗮𝗯𝗹𝗲 𝟯𝟰% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 📈 in IPO intention from our previous survey in January 2024. This meaningful increase is likely driven by 👉 improving stock market conditions, a building pipeline of deals, and positive feedback from investors and bankers. ------- PROFILE OF COMPANIES SURVEYED • Companies Reporting Plans to IPO:  81 • Total Capital Raised: $33B ($400M average) • Average Company Age: 10 years • Average Number of Employees: 700 This sample size is significant, representing one-third of the IPOs in a typical year (an average of 250 IPOs in the US over the last 20 years). -------- INDUSTRY BREAKDOWN 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆: 𝗠𝗮𝗰𝗵𝗶𝗻𝗲 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴, 𝗔𝗜, 𝗦𝗮𝗮𝗦, 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 💡 36% of all IPO intentions 💡 $13.4B in capital raised to date 𝗛𝗲𝗮𝗹𝘁𝗵𝗰𝗮𝗿𝗲: 𝗟𝗶𝗳𝗲 𝗦𝗰𝗶𝗲𝗻𝗰𝗲𝘀, 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗛𝗲𝗮𝗹𝘁𝗵, 𝗛𝗲𝗮𝗹𝘁𝗵𝗧𝗲𝗰𝗵 🧬 28% of all IPO intentions 🧬 $9.4B in capital raised to date 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗮𝗻𝗱 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 🛍️ 16% of all IPO intentions 🛍️ $3.5B in capital raised to date -------- Looking for support on your 𝗜𝗣𝗢 𝗷𝗼𝘂𝗿𝗻𝗲𝘆? We can help you ring the bell! 🔔 • Attend Connor Group IPO Summits • Visit the Resources page on our website for IPO guides • Connect with a Connor Group IPO Partner – reach out to info@connorgp.com, comment or DM

📈 The IPO market is showing signs of recovery as 𝙞𝙣𝙫𝙚𝙨𝙩𝙤𝙧 𝙞𝙣𝙩𝙚𝙧𝙚𝙨𝙩 𝙞𝙣𝙩𝙚𝙣𝙨𝙞𝙛𝙞𝙚𝙨. How can you prepare your company NOW for a successful public debut? Join us at the 𝟮𝟬𝟮𝟰 𝗕𝗮𝘆 𝗔𝗿𝗲𝗮 𝗜𝗣𝗢 𝗦𝘂𝗺𝗺𝗶𝘁 for exclusive insights from industry leaders on the latest trends, strategic planning, and actionable steps to ensure your IPO readiness. Key topic sessions will include: ⚡Capital Markets Update ⚡Public Company Readiness ⚡AI Adoption and Its Transformation of Business ⚡Navigating the IPO Landscape: Protecting Your Board & Executive Team 𝗥𝗘𝗦𝗘𝗥𝗩𝗘 𝗬𝗢𝗨𝗥 𝗦𝗣𝗢𝗧: bit.ly/4glFEge We hope to see you next month!

🧬 Join the ACS virtual conference THIS WEEK for an update on the latest Life Science technical accounting developments! ➡️ Aleks Zabreyko, Randa Ghantous, CPA and Matt Lepley will explore recent accounting trends in the Life Science industry ➡️ Jason Pikoos will share key GenAI use cases in accounting and finance REGISTER TODAY: bit.ly/3XLH7VC

📣 ASU 2023-07: 𝗡𝗲𝘄 𝘀𝗲𝗴𝗺𝗲𝗻𝘁 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝘀𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 – ARE YOU PREPARED?    The new standard introduces significant changes in segment reporting, aligning it more closely with internal management perspectives. Public companies with calendar year ends MUST apply this standard for their 2024 financial statements.    KEY IMPACTS    1️⃣ 𝗦𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗘𝘅𝗽𝗲𝗻𝘀𝗲 𝗗𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲: Public entities must disclose significant segment expenses provided to the Chief Operating Decision Maker (CODM) and included in each reported segment profit or loss measure.    2️⃣ 𝗔𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 𝗜𝘁𝗲𝗺𝘀: Companies must disclose additional segment items by reportable segment and explain their composition, ensuring transparency beyond significant expenses.    3️⃣ 𝗜𝗻𝘁𝗲𝗿𝗶𝗺 𝗣𝗲𝗿𝗶𝗼𝗱 𝗗𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲𝘀: Disclosures about a segment’s profit or loss and assets must be provided in interim periods for calendar year public companies, not just annually.    4️⃣ 𝗠𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝗠𝗲𝗮𝘀𝘂𝗿𝗲𝘀 𝗼𝗳 𝗣𝗿𝗼𝗳𝗶𝘁 𝗼𝗿 𝗟𝗼𝘀𝘀: If the CODM uses multiple measures of segment profit or loss, at least one must align with GAAP. Additional measures may also be disclosed if used by the CODM for decision-making.    5️⃣ 𝗖𝗢𝗗𝗠 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗨𝘀𝗲: Public entities must disclose the title and position of the CODM and explain how they use the reported measure(s) of segment profit or loss in decision-making.    6️⃣ 𝗦𝗶𝗻𝗴𝗹𝗲 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴: Entities with a single reportable segment will also be impacted by the revised disclosure requirements.    --------------    HOW DOES THIS AFFECT YOU? ⚙️ 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 ⚙️ - Update reporting packages for CODM to reflect key decision-making information - Ensure ERP and financial systems capture segment data accurately; revise data collection and analysis processes - Train finance and accounting teams on new requirements 👩💻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 👩💻 - Reassess operating segments and CODM conclusions for accuracy - Identify significant expenses per segment; review methods for revenue, expense, and asset allocation - Ensure interim reporting aligns with new requirements - Validate data accuracy and integrity across systems impacted by ASU 2023-07 📊 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 📊 - Familiarize the team with ASU 2023-07 disclosure requirements; plan for restating comparative periods and updating accounting policies - Enhance internal controls around segment reporting for compliance - Evaluate measures used by CODM for segment performance and determine key information for financial statement users    --------------    ⌛ 𝗗𝗢𝗡’𝗧 𝗗𝗘𝗟𝗔𝗬! Review your segment reporting practices now to ensure compliance.    𝘞𝘢𝘯𝘵 𝘵𝘰 𝘦𝘯𝘴𝘶𝘳𝘦 𝘺𝘰𝘶 𝘥𝘰𝘯’𝘵 𝘮𝘪𝘴𝘴 𝘢𝘯𝘺𝘵𝘩𝘪𝘯𝘨? Comment below or DM us for expert guidance on a seamless transition.

It was another great week for our team at SuiteWorld! ✅ Connor Group Director Justina Brown, CPA co-led an insightful session exploring strategies for 𝗰𝗼𝗻𝘁𝗿𝗼𝗹𝗹𝗶𝗻𝗴 𝗮𝗻𝗱 𝗮𝘂𝘁𝗼𝗺𝗮𝘁𝗶𝗻𝗴 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀 with Ramp. 𝘋𝘪𝘥𝘯’𝘵 𝘤𝘢𝘵𝘤𝘩 𝘩𝘦𝘳 𝘴𝘦𝘴𝘴𝘪𝘰𝘯? Comment below or send us a DM to connect with Justina and learn more ⏬ We’re already looking forward to next year’s gathering!