FICO

JUNE 21, 2021

In today’s litigious environment , AI-powered business decisions must be more than explainable, ethical and responsible; we need Auditable AI. Why Auditability Matters. Auditable AI makes Responsible AI real by creating an audit trail of a company’s documented development governance standard during the production of the model.

Audit 116

Audit AI Governance Government 116

Nanonets

AUGUST 1, 2023

In the rapidly evolving world of auditing, innovative technologies have revolutionized traditional practices. Auditors are now increasingly embracing the agile auditing approach previously used in software development. This strategic allocation of resources optimizes auditing efforts, leading to more focused and effective audits.

Audit 52

Audit Risk Assessment AI Assessments 52

Nanonets

AUGUST 1, 2023

The era of automation has brought about a revolution in various industries, and the audit sector is no exception. The integration of Artificial Intelligence (AI), cloud-based data storage solutions, and data analytics tools is set to transform the audit industry, reshaping the way accountants and auditors carry out their tasks.

Audit 40

Audit Automation Risk Assessment Assessments 40

PYMNTS

APRIL 29, 2020

Businesses that borrow money through the federal Paycheck Protection Program (PPP) can expect to be audited before the loans are forgiven, Treasury Secretary Steven Mnuchin told The Wall Street Journal. But Tuesday night, Mnuchin told the paper all loans will be audited.

Audit 141

Audit Request for Comment Payroll Treasury 141

The Fintech Times

DECEMBER 19, 2023

Cryptocurrency exchange and infrastructure provider Binance has completed a comprehensive compliance audit, as part of its commitment to improving security standards within the crypto industry. The audit affirms that an organisation has well-designed controls, has implemented them effectively, and operates them efficiently.

Audit 49

Audit Compliance ISOs Privacy 49

PYMNTS

JUNE 29, 2020

The number of tax audits on corporations plunged amid the pandemic, with the IRS saying in the National Taxpayer Advocate’s “Objectives Report to Congress” report for Fiscal Year 2021 that it began 716 corporate examinations from April 1 to June 1 this year compared to 2,445 during the same time last year, a 71 percent drop.

Audit 69

Audit IRS Tax Refunds Returns 69

Finextra

NOVEMBER 30, 2023

In the world of auditing, professionals are no strangers to an array of difficult challenges that ca.

Audit 52

Audit 52

PYMNTS

JULY 26, 2020

In the latest development, Bundesbank President Jens Weidmann said in an interview published by newspapers that are part of the Funke media organization that auditing should be enhanced, according to a translation to English from German by Reuters.

Audit 83

Audit Central Bank Posting Regulations 83

The Paypers

DECEMBER 11, 2023

The UK National Audit Office (NAO) has expressed reservations about the effectiveness of the FCA in overseeing the cryptocurrency industry.

Audit 45

Audit Cryptocurrency 45

PYMNTS

JULY 6, 2020

The Big Four accounting firms will have to put their United Kingdom auditing and consulting practices in separate business units by 2024, but may keep them within the same parent companies, under regulations announced today by the Financial Reporting Council. The measures by the U.K.’s

Audit 66

Audit Consulting Regulations Accounts 66

PYMNTS

MAY 4, 2020

Despite an audit that raised questions about operations at Wirecard, a publicly traded financial services provider based in Munich, its CEO has ignored calls to resign. The survey by KPMG, a global auditing firm, criticized the company’s lack of transparency and cooperation. The company employs 5,300 workers.

Audit 64

Audit Compliance Rules Transactions 64

PYMNTS

JANUARY 26, 2021

Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. Digitizing and centralizing spend across various departments and workflows is the first step to enhancing the auditing process, said McCrossan.

Audit 75

Audit Continuity Automation Compliance 75

The Paypers

SEPTEMBER 4, 2023

has announced the release of a 100% Proof of Reserves (PoR) audit upgrade plan. Cryptocurrency exchange Gate.io

Audit 45

Audit Cryptocurrency 45

PYMNTS

JUNE 26, 2020

The company was involved in deliberate deceit and had given false statements on escrow while EY was carrying out the 2019 audit of the company, which EY took to the relevant authorities, Reuters reported. billion on its books that may not exist.

Audit 102

Audit Authorization Processors Continuity 102

The Paypers

JULY 19, 2023

The National Audit Office has launched a review on the Financial Conduct Authority ’s effectiveness and its overall ability to manage new responsibilities.

Audit 36

Audit Authorization 36

PYMNTS

MARCH 15, 2020

The Securities and Exchange Commission (SEC) voted last week to ease audit requirements for some small, publicly traded companies, the agency said in a statement Friday (March 13).

Audit 63

Audit Rules Compliance Origination 63

PYMNTS

APRIL 24, 2019

Wirecard has denied claims levied by the Financial Times that its subsidiaries were not audited, according to a report by Reuters. The FT , using a whistleblower as a source, said that Wirecard’s accounts in Card Systems Middle East in Dubai were not audited in 2016 and 2017.

Audit 46

Audit Procedures Origination Digital Payments 46

PYMNTS

JULY 11, 2019

s so-called Big Four accountancy firms — KPMG, PwC, EY and Deloitte — have reportedly failed to reach audit quality standards set by the Financial Reporting Council , Reuters reported this week. Only 75 percent of the audits of the U.K.’s It will review a larger number of the firm’s audits in the coming year. All of the U.K.’s

Audit 49

Audit Accounts Governance Government 49

PYMNTS

DECEMBER 4, 2020

Munich prosecutors have launched an investigation into the Ernst & Young ( EY ) audit of Wirecard AG, compounding the firm’s troubles associated with $2.3 billion that went missing at the payment company.

Audit 75

Audit Rules Breach Legal 75

PYMNTS

AUGUST 19, 2019

Firms auditing expenses through manual processes and outdated technologies risk missing the chance to flag erroneous or fraudulent submissions from vendors and employees. Deploying technology — especially artificial intelligence (AI) — can streamline the auditing process and boost cost savings significantly.

Audit 56

Audit AI Regulatory Compliance Duplicate 56

PYMNTS

APRIL 29, 2020

Any small business getting an emergency coronavirus loan from the Small Business Administration (SBA) greater than $2 million will be subject to an audit, Treasury Secretary Steven Mnuchin said. Conducting audits of so many businesses could prove to be a near-impossible undertaking.

Audit 61

Audit Small Business Payroll Treasury 61

PYMNTS

JULY 2, 2020

The former chair of the London Stock Exchange is calling for a thorough overhaul of audit standards in the wake of the $2.1 Auditors should be required “to find fraud rather than stumble over it,” Donald Brydon , appointed last year to overhaul audit standards in the United Kingdom, told the Financial Times.

Audit 56

Audit Law Enforcement Mitigation Settlement 56

PYMNTS

MAY 1, 2020

Before the forgiveness … comes the audit. And audits, as we all know, strike fear into the hearts of, well, pretty much everyone, whether financial wrongdoing has been in the cards or not. As recorded, PYMNTS found that 43.2

Audit 71

Audit Payroll Small Business Treasury 71

PYMNTS

JUNE 6, 2019

auditing giant to overhaul operations amid growing regulatory scrutiny on the industry. PwC is reportedly planning to ramp up its auditing operations by hiring 500 more auditors across the U.K., The company will also deploy a digital audit team, strengthen training operations and review existing clients. .”

Audit 46

Audit Consulting Returns Regulations 46

PYMNTS

APRIL 26, 2020

Accounts receivable (AR) platform SurePayd is responding to the coronavirus pandemic by reducing the costs for its remote migration audit services for the next two months for companies that need to go on the cloud during the crisis, according to a press release.

Audit 56

Audit Automation Accounts Transactions 56

PYMNTS

JUNE 5, 2020

The new announcement will bring together CaseWare PBC Requests, CaseWare ReviewCompTax, CaseWare Audit and CaseWare AnalyticsAI as one product suite, allowing accountants to take their services entirely to the cloud in bulk. And errors are done away with through automatic updates of information, the press release states.

Audit 52

Audit Accounts Duplicate Risk 52

PYMNTS

OCTOBER 29, 2020

A number of large accounting groups have turned down requests to audit Greensill Capital as the SoftBank -backed firm mulls a stock market listing, the Financial Times (FT) reported. The United Kingdom-based organization has become one of the most highly valued private finance firms in the nation as of its 2011 establishment.

Audit 52

Audit Accounts On-Demand Participant 52

PYMNTS

OCTOBER 25, 2019

Treasury Inspector General for Tax Administration is calling into question the Internal Revenue Service’s corporate auditing performance. But according to the report, the IRS rarely uses this new method and is not examining past audits in order to more efficiently prioritize which cases to more closely examine, Bloomberg said.

IRS 40

IRS Audit Treasury Compliance 40

The Paypers

SEPTEMBER 5, 2022

Europe-based digital banking platform Revolut has reportedly been under pressure from its auditors to improve internal controls after UK-based regulators found flaws in the bank’s auditing accounts.

Audit 36

Audit Regulations Accounts 36

Payments Source

OCTOBER 21, 2019

in Germany after saying it had commissioned KPMG to conduct an independent audit of the digital payments company, its latest effort to calm investors rattled by reports of accounting irregularities. Wirecard AG gained as much as 6.6%

Audit 63

Audit Digital Payments Accounts Payments 63

Payments Source

JUNE 5, 2017

Audits and advanced regulatory technology can help companies keep up, writes Performline CEO Alex Baydin. As payments get more complex, money laundering and other risks increase.

Audit 80

Audit Risk Money Laundering Technology 80

The Paypers

DECEMBER 17, 2021

Germany-based blockchain auditing company SolidProof has finalised the development of its auto audit tool and plans to launch the solution soon.

Audit 48

Audit Blockchain 48

The Paypers

MARCH 31, 2021

Payoneer , a global payment and commerce-enabling platform, has filed its full year audited 2020 financial results with the SEC in Amendment No. 1 to the Registration Statement.

Audit 50

Audit Global Payments Payments 50

PYMNTS

SEPTEMBER 10, 2019

In a statement, Coatue Management Senior Managing Director Thomas Laffont said that artificial intelligence (AI) enables AppZen to deploy more sophisticated analytics and automation within its expense management solution, which allows businesses to assess expenses, automate expense report audits, and identify savings opportunities. “AI

Audit 43

Audit AI Automation Assessments 43

PYMNTS

NOVEMBER 13, 2018

Parliament will commence an inquiry into the nation’s corporate auditing market, which is currently dominated by the Big Four accounting firms Deloitte, PwC, EY and KPMG, adding new pressure on an industry already being probed by other policymakers. Reports in Reuters on Sunday (November 11) said the U.K.

Audit 49

Audit Accounts Small Business Regulations 49

CB Insights

NOVEMBER 9, 2021

Laika , a compliance and security audit platform for software companies, has raised $35M in a Series B. New York-based Laika helps businesses obtain audits and security certifications as well as remain compliant with regulations. The round drew participation from Bain Capital Ventures, Canapi Ventures, JPMorgan & Co.,

Audit 61

Audit Compliance Security PayPal 61

PYMNTS

OCTOBER 21, 2019

21), following news of an independent audit by KPMG. Wirecard said the auditing company will have “unrestricted access to all information on all levels of the group.” The audit follows a report in the Financial Times that accused the company of accounting irregularities.

Audit 40

Audit Laws Procedures Accounts 40