VISTA InfoSec

JULY 17, 2024

Develop and implement policies and procedures Developing and implementing policies ensures everyone knows what to do to keep data safe, no matter the language they speak. Create a clear policy document that outlines every step of your cybersecurity plan. Outline regular audit processes to check compliance with these policies.

Cybersecurity 231

Cybersecurity Compliance Encryption Best Practices 231

PYMNTS

JUNE 26, 2020

That routine audit procedure could have uncovered the vast fraud at the suburban Munich company, the report said. The accountancy firm, which has audited Wirecard since 2010, has been thrust into the center of the scandal around $2.1 billion) in cash, the Financial Times reported.

Accounts 116

Accounts Audit Procedures Processors 116

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

VISTA InfoSec

JANUARY 22, 2024

Requirement and Testing Procedures 3.2.a Requirement and Testing Procedures 3.2.a Requirement and Testing Procedures 3.1 Minimize cardholder data storage by implementing policies, procedures, and processes for data retention and disposal. Confirm this by examining data stores, system settings, and vendor documents.

PCI DSS 100

PCI DSS Encryption Procedures Authorization 100

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

VISTA InfoSec

JULY 31, 2023

Create a Formal Procedure : Establish a standardized process for restricting network access by configuring rules and criteria for your firewalls and routers. Maintain Documentation of Your Procedures : Keep a record of your process and create visual representations of cardholder data streams between systems and networks.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

Synapse Payment Systems

JANUARY 3, 2023

An important part of any return procedure is collecting data on why customers are bringing the item back. Standardize Procedures While technology makes a difference, so do your employees. Having standardized and consistent procedures in place is vital for any small business. This is where audits come in.

Small Business 130

Small Business Audit Procedures Returns 130

VISTA InfoSec

OCTOBER 26, 2023

SOX establishes regulations around financial reporting, mandates internal control audits, and strengthens corporate governance. The SOC framework includes multiple internal control audit reports. Now let’s examine the key differences between SOC and SOX audits. It applies to all U.S.

Audit 130

Audit Compliance Laws Governance 130

PYMNTS

MAY 16, 2018

SOC 2 was developed by the American Institute of Certified Public Accountants (also known as AICPA) and exists as an auditing process aimed at ensuring that service providers maintain and manage customer data in a safe manner. The onus is on the firm to produce proof that such procedures were followed.

Audit 46

Audit Procedures ISOs Security 46

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

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

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

VISTA InfoSec

FEBRUARY 16, 2024

The requirement mandates that software development procedures must be documented and examined to ensure that all security considerations are integrated into every stage of the development process. This ensures a clear documentation trail of security practices. PCI DSS v3.2.1 PCI DSS v4.0 Requirement 6.5 is now 6.2.2. PCI DSS v4.0

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

Nanonets

JULY 28, 2023

The modern business landscape is characterized by an overwhelming amount of information and documents that organizations must contend with. The global production, capture, copying, and consumption of data from various documents has been experiencing exponential growth. What is document workflow management? zettabytes.

Disaster Recovery 52

Disaster Recovery Automation Compliance Procedures 52

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

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

VISTA InfoSec

FEBRUARY 28, 2024

Specific Requirement - New: Rules for limited shared account use (duration, documentation, approval, auditability). Changes Core Focus Limiting database access to programmatic methods (apps, stored procedures) and database administrators. Interview those in charge: do these accounts follow these strict procedures?

PCI DSS 130

PCI DSS Best Practices Authentication Rules 130

Nanonets

MAY 22, 2023

Financial controls are the procedures, policies, and means by which an organization monitors and manages its revenues, costs, budgets, cash flow, and other financial aspects. These documents provide a holistic view of your business's performance and operations. What are financial controls, and why are they important?

Automation 98

Automation Procedures Audit Process 98

Nanonets

JUNE 27, 2023

Traditional paper-based documents can be cumbersome to handle, store, and retrieve for businesses daily, leading to inefficiencies and productivity bottlenecks. Yet documentation and its management are integral to any company’s workflow. This is where document digitization comes into play. What is document digitization?

Product 52

Product Disaster Recovery Automation Compliance 52

Nanonets

JULY 11, 2023

To ensure the effectiveness of purchases controls, organizations must document and assess their control mechanisms through a comprehensive test of control. Evaluating the effectiveness of purchase controls requires thorough documentation and testing to ensure that they are designed appropriately and operating effectively.

Procedures 40

Procedures Audit Mitigation Assessments 40

VISTA InfoSec

SEPTEMBER 28, 2023

Appoint an Independent Data Auditor: The Significant Data Fiduciary shall appoint an independent data auditor to carry out a data audit. Conduct the Data Protection Impact Assessment (DPIA) and Audits: The Significant Data Fiduciary is responsible for implementing the following measures: (Clause 10 (2) (c), DPDP Act).

Privacy 130

Privacy Audit Data Breach Breach 130

Neopay

MARCH 14, 2024

This includes proposals on firms’ systems and controls and improving FCA oversight through improved reporting and independent audit of firms safeguarding arrangements. Identification of Funds Auditors will be expecting to see documentation covering how and when relevant funds arise in your business, including transaction flows.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

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

Neopay

JANUARY 2, 2024

Why are internal controls, such as policies and procedures, critical for organisations in ensuring compliance with financial regulations? Policies and procedures form a key part of effective governance within any firm. Equally, documented internal processes are crucial to ensuring that all activities are streamlined and up to date.

Regulatory Compliance 59

Regulatory Compliance Compliance Audit Procedures 59

Fintech Review

JUNE 18, 2024

Common hedge fund back office tasks include trade execution, reconciliation to NAV calculations, investor reporting, preparing tax documents, and ensuring compliance with federal and state regulations. Standardize portfolio management procedures and segregate duties to minimize operational risk. Foster a culture of compliance.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

FICO

MARCH 24, 2021

Trade finance has traditionally been a resource-intensive manual process because global trade still depends on paper documents, making it susceptible to documentary fraud. Document, document, document! (In Conducting internal monitoring and auditing. million SARs filed overall during the same period.

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98

Stax

JANUARY 8, 2024

To establish an effective risk management program as a PayFac, you must establish a dedicated risk management team, utilize the right tools and technology, develop proper risk management policies and procedures, conduct regular risk audits, and stay up-to-date with the latest industry regulations.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

VISTA InfoSec

OCTOBER 21, 2024

Develop and implement policies and procedures Developing and implementing policies ensures everyone knows what to do to keep data safe, no matter the language they speak. Create a clear policy document that outlines every step of your cybersecurity plan. Outline regular audit processes to check compliance with these policies.

Cybersecurity 135

Cybersecurity Compliance Encryption Best Practices 135

The Payments Association

OCTOBER 23, 2024

In addition to updating policies and procedures, many firms may need to make significant operational changes, including to their funds flows. Enhanced reconciliation, audit, and reporting requirements will create additional administrative burdens and could increase the risk of supervisory and enforcement action.

Rules 88

Rules Payments Institute Authorization Reconciliation 88

PYMNTS

APRIL 15, 2019

In a statement on Friday (April 12), the Danish Business Authority said it came to an “assessment that EY, in connection with its audit of Danske Bank’s reports for 2014, was made aware of information” and that “EY ought to have conducted a closer investigation, and informed the Financial Intelligence Unit.”.

Money Laundering 70

Money Laundering Audit Authorization Procedures 70

Nanonets

JUNE 15, 2023

Introduction Documents are the lifeblood of business communication. They allow for the transfer of information, the tracking of decisions, the formalization of procedures, and the documentation of business transactions, among many other things. Why are Document Workflows essential?

Automation 40

Automation Payment APIs and Integration Audit Process 40

FloQast

FEBRUARY 14, 2024

Let’s take a look at how FloQast helped the Director of SOX Compliance and Head of Internal Audit at a.k.a Brands’ accounting procedures. “FloQast provided us with a centralized platform to manage all our SOX controls, making tracking, monitoring, and documenting control activities easier,” he said.

Compliance 96

Compliance Reconciliation Close Processes Automation 96

Fintech Finance

JUNE 13, 2024

The adoption of procedures like this makes EBANX and its technology even more secure and reliable, and this is even more important for a company that has operations in 29 countries, teams across Latin America, Africa and Europe, in the United States, China, Singapore and other countries in Asia, and serves merchants around the world.

ISOs 81

ISOs Privacy Best Practices Compliance 81

Nanonets

MAY 10, 2023

This article will show how workflow management solutions can automate routine procedures, minimize repetitive jobs and operator mistakes, detect bottlenecks, and simplify communication across all departments. Workflows are used to define the procedure that is required before the task is considered complete. What is workflow automation?

Automation 98

Automation Rules Procedures Process 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

AUGUST 5, 2024

Effective safeguarding training covers the policies, procedures, and regulations that must be adhered to in order to minimise risks and maintain compliance with regulatory standards. Detailed records of all safeguarding training should be maintained for audit purposes.

Compliance 52

Compliance Procedures Audit Risk Management 52

VISTA InfoSec

JULY 5, 2023

This widely accepted set of policies and procedures is designed to enhance the security of credit, debit, and cash card transactions, while also protecting cardholders from the misuse of their personal information. A PCI QSA audit can provide assurance that you’re on the right track. Let’s find out together!

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130