The Payments Association

FEBRUARY 14, 2025

Regular audits and compliance checks : Firms will face enhanced monitoring and reporting under the proposed policy. They should implement regular audits and strengthen compliance oversight to uphold safeguarding practices. Engaging external auditors may provide additional assurance.

Stablecoins 88

Stablecoins Payment APIs and Integration Regulatory Compliance Compliance 88

Clearly Payments

NOVEMBER 13, 2024

Building a Strong Business Case : Acquiring banks will assess the payment processor’s business plan, compliance procedures, and financial stability. New processors must be prepared to demonstrate compliance and may need to undergo regular audits to meet these standards. Apply to Card Networks (Visa, Mastercard, etc.)

Process 104

Process Processors Payments Compliance 104

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process. We will also cover how automation helps to streamline the AP audit procedure. What is an AP Audit?

Audit 52

Audit Accounts Procedures Compliance 52

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. Learn more here about top investments and explore their cybersecurity measures.

Cybersecurity 260

Cybersecurity Due Diligence Security Breach 260

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

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

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

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. OCBC declined to comment, the paper reported.

Accounts 116

Accounts Audit Procedures Processors 116

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 Bots Risk Assessment 52

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

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

The Payments Association

DECEMBER 9, 2024

This could involve regular audits of AI systems, rigorous testing procedures, and ongoing monitoring of their performance to identify and address discriminatory patterns. Regular audits of AI systems should be conducted to ensure they operate in line with data protection laws and ethical guidelines.

Privacy 88

Privacy Payment Security AI Security 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

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

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. SOX, a U.S.

Audit 130

Audit Compliance Laws Governance 130

The Finance Weekly

JULY 28, 2022

One of Vena’s customers, , Verra Mobility , claimed that Vena misled them into believing that the Soc 1 Type II report that Verra was given had been audited by an independent auditor. Vena is currently undergoing audits to rectify the situation. SOC reports started in 1992 under the Statement on Audit Standards (SAS).

Audit 130

Audit Compliance Data Security Security 130

M2P Fintech

APRIL 11, 2025

Key Proposals in the RBI’s Draft Guidelines Standardized Gold Valuation Lenders must use a transparent and uniform method for valuing pledged gold, with valuation done by certified personnel and subject to periodic audits. Purity checks must be documented and auditable.

Due Diligence 52

Due Diligence Caps Audit Non-Bank 52

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. Train employees regularly on these policies and procedures Make training available in all relevant languages. We’ve listed out the three main ones: 1.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

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

Neopay

APRIL 10, 2025

A Revolut representative said: Revolut Bank UAB is committed to the highest standards of regulatory compliance and cooperated with the Bank of Lithuania in taking immediate action to address the procedural deficiencies.

Central Bank 52

Central Bank Money Laundering AML Financial Crimes 52

VISTA InfoSec

JANUARY 29, 2024

a Review documented policies and procedures to confirm that a process is established for regular evaluations of any system components that are not susceptible to malware, encompassing all elements specified in this requirement. Audit logs for the anti-malware solution(s) are activated and preserved in line with Requirement 10.5.1.

PCI DSS 130

PCI DSS Phishing Best Practices Procedures 130

PYMNTS

MAY 12, 2017

million — a record for the watchdog, reports said — for misconduct during its audit of Connaught. Reports Thursday (May 11) said the Financial Reporting Council slapped PwC with the fine and issued a separate fine to retired PwC audit partner Stephen Harrison for his role in the 2009 audit. regulator has fined PwC $6.5

Audit 40

Audit Procedures Assessments Regulations 40

Neopay

DECEMBER 16, 2024

Robust processes: Established procedures for report production, involving relevant business areas and governance bodies. Audits and gap analysis : Our audits identify compliance gaps and offer tailored recommendations to improve governance, complaints handling, and RCA processes.

Consumer 52

Consumer Compliance Audit Governance 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

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

NOVEMBER 12, 2024

This includes preparing for potential threats, training staff on response procedures, and regularly testing the response plan ( Requirements 12.10.1 Engage qualified security assessors (QSAs) Work with a QSA to perform a gap analysis, guide you through the compliance process, and conduct formal audits. and 10.2 ).

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

This includes preparing for potential threats, training staff on response procedures, and regularly testing the response plan ( Requirements 12.10.1 Engage qualified security assessors (QSAs) Work with a QSA to perform a gap analysis, guide you through the compliance process, and conduct formal audits. and 10.2 ).

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

The Payments Association

FEBRUARY 10, 2025

Partnering with regional providers, leveraging AI for fraud detection, and conducting regular audits will ensure compliance, transparency, and operational excellence. Strengthening KYC procedures is critical, ensuring that verification extends beyond master account holders to individual vIBAN end users.

IBAN 88

IBAN AML Master Account Due Diligence 88

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

PYMNTS

OCTOBER 9, 2020

By helping firms scope appropriately sized audits and dynamically modify controls, Strike Graph seeks to take away the confusion around cybersecurity audit and certification procedures. The new funding will assist Strike Graph in hiring for more cybersecurity and engineering roles. million through its first round of financing.

Compliance 107

Compliance Automation Audit Cybersecurity 107

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. Requirement and Testing Procedures 3.3 Requirement and Testing Procedures 3.4

PCI DSS 100

PCI DSS Encryption Procedures Authorization 100

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

Fintech Finance

MARCH 3, 2025

Issued by Ernst & Young (EY), a leading independent auditing firm, the SOC 2 Type II certification is a rigorous assessment for operating effectiveness of a service providers internal controls. The audit firm will conduct annual reviews, and Antom will continue its recertification process.

Fraud Prevention 52

Fraud Prevention Fraud Detection AI Risk Management 52

Fintech Finance

OCTOBER 14, 2024

Orbital’s compliance was verified through a rigorous audit conducted by A-LIGN , a globally respected Certified Public Accountant (CPA) firm. This process involved an in-depth examination of Orbital’s internal controls, policies, and procedures across multiple AICPA Trust Services Criteria.

Compliance 95

Compliance ISOs Procedures Audit 95

VISTA InfoSec

FEBRUARY 13, 2024

Audits play a complementary role by ensuring that existing security measures align with both internal policies and external regulatory requirements. In jurisdictions where regulatory compliance is stringent, such as in Singapore, audits are an indispensable part of the cybersecurity framework.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

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

FloQast

FEBRUARY 19, 2025

He brings over 13 years of experience, providing clients with business and technology audits, as well as providing control design assessment and process improvement services. Xavier has led numerous SOX and Internal Audit engagements for clients ranging from start-ups to Fortune 500 companies throughout his career at CFGI.

Advisors 52

Advisors Compliance Risk Audit 52