Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

The Fintech Times

SEPTEMBER 13, 2024

This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer. So far this month, The Fintech Times has focused on compliance.

Compliance 72

Compliance FinTech Reconciliation Audit 72

Nanonets

JANUARY 1, 2024

In this blog, we'll delve into what invoice audits entail and why they are crucial for the financial integrity of businesses. What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor.

Audit 52

Audit Compliance Automation Verification 52

Stax

DECEMBER 4, 2023

The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. In this article, we’ll discuss everything you need to know about ensuring AML compliance as a payment facilitator (or PayFac). Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

FloQast

NOVEMBER 20, 2023

Internal auditing ensures an organization’s financial integrity, compliance with regulations, and overall operational efficiency. One of the first steps in carrying out an effective internal audit is to perform an internal audit risk assessment. What Is an Internal Audit Risk Assessment?

Risk Assessment 52

Risk Assessment Audit Assessments Risk 52

Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. These audits are essential for ensuring compliance with laws and regulations, as well as maintaining accurate and timely financial reporting and data collection.

Audit 52

Audit Automation Risk Assessment Bots 52

VISTA InfoSec

JULY 5, 2023

In this blog post, we’ll delve into the significance of PCI DSS compliance in healthcare and explore how it helps protect patient data and privacy. The Payment Card Industry Data Security Standard (PCI DSS) is a vital compliance scheme that aims to protect credit and debit card transactions against fraud and data theft.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

FloQast

FEBRUARY 14, 2024

Brands jumped at the opportunity to try out FloQast Compliance Management. Let’s take a look at how FloQast helped the Director of SOX Compliance and Head of Internal Audit at a.k.a Brands , Brandon Peters, optimize processes, streamline compliance efforts, and boost efficiency. Brands’ accounting procedures.

Compliance 98

Compliance Reconciliation Close Processes Automation 98

VISTA InfoSec

MAY 24, 2024

In this blog, we’ll explore what PCI DSS compliance is, its benefits, and how small businesses can achieve it. Benefits of PCI DSS compliance for a small business: Enhanced Security reduces the risk of data breaches, fraud, and unauthorized access to sensitive cardholder data. of PCI DSS. of PCI DSS.

PCI DSS 243

PCI DSS Small Business Assessments Compliance 243

Neopay

JANUARY 2, 2024

In an exclusive interview with Neopay’s Consultancy Manager, Margita Layne, we delve into the pivotal role of internal and external monitoring in ensuring regulatory compliance within the financial services sector. Policies and procedures form a key part of effective governance within any firm.

Regulatory Compliance 59

Regulatory Compliance Compliance Audit Procedures 59

Innovative Payments Association

JULY 8, 2024

Disclosures should include information about fees, error resolution procedures, and consumer rights under Regulation E. Establish Robust Error Resolution Procedures: Develop and implement procedures for handling consumer error resolution requests in accordance with Regulation E.

Reg E 52

Reg E CFPB Error Resolution Boot Camp 52

Nanonets

MAY 8, 2023

If not, it may be time to rework your current accounting policies to implement audit trails. Despite what many business owners believe, audit trails aren’t reserved only for companies that receive an audit. Audit trails can prevent fraud, aid in disaster recovery, and ensure compliance with regulatory agencies.

Audit 52

Audit Procedures Disaster Recovery Reconciliation 52

FloQast

MAY 13, 2024

In ever-changing risk and regulatory landscapes, companies must ensure that their internal compliance processes evolve at the same pace, and that they are always capable of addressing emerging threats effectively.

Compliance 52

Compliance Audit Automation Accounts 52

FloQast

OCTOBER 27, 2023

While it can feel burdensome, compliance management has become a critical risk management feature and is too important to ignore. Unfortunately, compliance management is no walk in the park. The overarching aim of compliance management is to ensure organizations mitigate risk and build a deep-rooted culture of compliance.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

FloQast

FEBRUARY 21, 2024

Bipartisan approval of the Sarbanes-Oxley (“SOX”) Act in 2002 changed the compliance landscape, offering business operation integrity and financial transparency of publicly traded companies. Companies must be prepared for an integrated audit as they grow and expand. Non-compliance costs can be $4M or more.

Compliance 52

Compliance Audit Risk Accounts 52

The Fintech Times

SEPTEMBER 4, 2024

This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer. We asked industry experts to find out. Keeping up with this can be a true headache.”

Compliance 64

Compliance Rules Regulations Cybersecurity 64

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

FloQast

APRIL 8, 2024

Sarbanes-Oxley Act compliance can protect investors by improving internal controls over financial reporting and the accuracy and reliability of corporate disclosures. Identifying deficiencies and material weaknesses in internal controls is an important aspect of SOX compliance. Foster a culture of compliance.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

Stax

JANUARY 15, 2024

Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. for transactions also requires this compliance.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

VISTA InfoSec

OCTOBER 26, 2023

Let’s explore the critical differences between SOC and SOX compliance. In the realm of information security and financial reporting, compliance enables organizations to build trust and transparency with stakeholders. Now let’s look at SOC compliance. The SOC framework includes multiple internal control audit reports.

Audit 130

Audit Compliance Laws Government 130

VISTA InfoSec

MARCH 6, 2024

Changes Access Controls "Limit viewing of audit trails" to those with a need. Testing Procedures Broad testing, looking at system settings, monitored files, etc. audit log security principles are mostly unchanged. Testing procedures align with updated access language. Similar emphasis on policies and procedures.

PCI DSS 130

PCI DSS Procedures Best Practices Risk Assessment 130

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

FloQast

DECEMBER 13, 2023

In this comprehensive guide, we cover all you’ll need to know about SOX compliance. SOX compliance is structured to be two-pronged and encompasses guidelines regarding corporate responsibility for financial reports and adequate internal financial controls.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Stax

SEPTEMBER 17, 2024

TL;DR PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust. What is PCI Compliance? Why Is PCI Compliance So Important? PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust. That’s where Stax comes in.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

VISTA InfoSec

JUNE 26, 2024

For instance, you can look at the company’s history of data breaches and their responses, the robustness of the cybersecurity infrastructure, and the presence of comprehensive security policies and procedures. The consequences of non-compliance extend beyond immediate financial penalties. 5 / 5 ( 1 vote )

Cybersecurity 260

Cybersecurity Due Diligence Security Risk Management 260

Nanonets

AUGUST 1, 2023

Over the years, the auditing landscape has undergone remarkable transformations, and among the most significant advancements has been the advent of audit automation software solutions. Computer-Assisted Audit Tools and Techniques (CAATTs) have been available to auditors since the early 1990s. The situation has changed now.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

Fi911

NOVEMBER 7, 2023

Why is it non-negotiable for financial institutions across the globe, and how can you ensure that your institution is compliant with all AML procedures? This framework encompasses a series of regulations, policies, and procedures. As the name implies, the primary focus is on stopping money laundering.

AML 52

AML Compliance Money Laundering OFAC 52

FloQast

NOVEMBER 27, 2023

SOX Section 404: Overview of Compliance Requirements SOX, or the Sarbanes-Oxley Act of 2002 , isn’t just another piece of financial legislation. SOX Section 404 isn’t just another line item on the compliance checklist. The Critical Role of Internal Audits Ever heard the saying, “Two heads are better than one”?

Compliance 52

Compliance Risk Assessment Audit Risk Management 52

Core

MARCH 19, 2024

Here’s what compliance managers and auditors need to know to strengthen internal fraud prevention and safeguard public funds. Manual payment processing typically lacks sufficient controls when it comes to documentation or audit trails, making it challenging to detect fraudulent transactions.

Fraud Detection 52

Fraud Detection Governance Government Compliance 52

VISTA InfoSec

JULY 31, 2023

After completing all the applicable requirements and steps mentioned in the PCI DSS checklist, businesses may engage a Qualified Security Assessor (QSA) to perform a formal assessment of their compliance with the PCI DSS. If any areas of non-compliance are identified during the assessment, the QSA will report their findings to the business.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. However, there are numerous issues due to poor compliance. What’s next?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Neopay

OCTOBER 3, 2024

As regulatory expectations rise, companies must ensure they have robust compliance frameworks in place, particularly when scaling rapidly. Compliance must keep pace with growth Starling’s rapid growth, from 43,000 customers in 2017 to 3.6 million in 2023, is impressive, but their compliance measures did not keep pace.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

Stax

JANUARY 8, 2024

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. They must also ensure that sub-merchants are compliant with the regulations set by card companies, e.g. PCI compliance.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

VISTA InfoSec

SEPTEMBER 28, 2023

Under the DPDP Act, ‘ Data Fiduciaries ’ – entities that handle personal digital data in India – are primarily responsible for compliance (Clause 2 (i), DPDP Act). 8 Steps to Achieve DPDP Compliance: Key Obligations for Data Fiduciaries 1.Notify The DPIA manages risk to these rights and addresses other related matters.

Privacy 130

Privacy Audit Data Breach Breach 130

Fintech Review

JUNE 18, 2024

However, what is often overlooked or regarded with disdain is the amount of compliance and account reconciliations needed in back-office operations. Advanced software and innovative tools make back-office tasks like compliance checks and account reconciliations more efficient and accurate. Foster a culture of compliance.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

FloQast

MARCH 1, 2024

The Sarbanes-Oxley Act addressed several themes, including increasing oversight of the accounting profession with the Public Company Accounting Oversight Board (PCAOB), establishing new standards to preserve auditor independence, reconfiguring audit committees, and requiring enhanced financial statement disclosures.

Audit 52

Audit Compliance Assessments Procedures 52

Neopay

OCTOBER 10, 2024

This includes both the technical aspects, such as transaction monitoring, and the human elements, such as staff training and procedural reviews. How Neopay can help At Neopay, we specialise in helping firms strengthen their compliance frameworks, ensuring that they meet and exceed regulatory expectations. Why does this matter?

Due Diligence 52

Due Diligence Fraud Prevention Financial Crimes Compliance 52