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

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

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

Innovative Payments Association

AUGUST 29, 2024

Develop Written Policies and Procedures Clear and comprehensive written policies and procedures are essential for a strong compliance program. All staff members should be educated on anti-money laundering laws, regulatory requirements, and the company's policies and procedures.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 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

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

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

VISTA InfoSec

MAY 24, 2024

Develop and document security policies and procedures tailored to business operations. Information Security Management System (ISMS) Internal audit under section 12.1.1 It is a set of policies and procedures for systematically managing an organization’s sensitive data. Conduct PCI DSS training for all employees.

PCI DSS 202

PCI DSS Small Business Assessments Compliance 202

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 Government 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. Governance You should have documented policies and supporting operational evidence to show your governance of safeguarding procedures and framework.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

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

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

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

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

FEBRUARY 25, 2024

And painful account recovery procedures await all users who must reset passwords across potentially dozens of breached websites. Conduct audits periodically post-partnership. Worse yet, there is irreparable reputation damage and loss of customer trust that destroys brands after high-profile incidents.

Data Breach 223

Data Breach Breach Multifactor Authentication Cybersecurity 223

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. Neopay typically engages with the firms to acquire key documentation, such as policies and procedures.

Regulatory Compliance 59

Regulatory Compliance Compliance Audit Procedures 59

Stax

DECEMBER 4, 2023

TL;DR An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

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

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

FEBRUARY 9, 2024

Remember that internal controls are procedures and processes management emplace to ensure accounting integrity and financial transparency. In this case, the referee (actual control measures and checks) uses the playbook (company procedures built on accepted accounting principles) to manage the game (financial reporting).

Audit 52

Audit Risk Assessment Assessments Procedures 52

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

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

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 215

Cybersecurity Due Diligence Security Risk Management 215

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 Compliance 130

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. Verification involved examining software-development procedures and interviewing personnel. . The updated requirement of PCI DSS v4.0

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

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

Fintech Review

JUNE 18, 2024

Standardize portfolio management procedures and segregate duties to minimize operational risk. Ensure auditability and the future success of the fund by keeping detailed records of transactions, valuations, and investor communications. Best Practices for Hedge Fund Operations Implement strong governance and oversight.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

Nanonets

JULY 11, 2023

Receipt and Inspection of Goods: Purchases controls include procedures for receiving and inspecting goods to ensure that they meet the organization's specifications and quality standards. Photo by Austin Distel / Unsplash What are Test of Control Procedures? How can a Test of Control Procedure Evaluate Purchase Controls?

Procedures 40

Procedures Audit Mitigation Assessments 40

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 186

Cybersecurity Compliance Encryption Best Practices 186

Neopay

JUNE 27, 2024

Compliance policies and procedures: Develop comprehensive compliance policies and procedures that address key regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) obligations (see below). Staff training: Provide regular training to your staff on AML obligations, red flags, and reporting procedures.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

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. Setting up regular financial audits Regular financial audits are essential for ensuring that the financial controls in place are working as intended.

Automation 98

Automation Procedures Audit Process 98

FloQast

APRIL 8, 2024

This can impact the company’s stock price and ability to secure financing and increase external audit costs. This includes identifying key controls, establishing clear lines of authority and responsibility, and ensuring that policies and procedures are well-documented and communicated. Regular internal audits.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

NFCW

JULY 17, 2024

To comply with the same industry standard-specifications as developers of HCE payment apps and to protect confidential information obtained in the context of an audit. Moreover, Apple offered additional independence and procedural guarantees for the monitoring trustee. To shorten deadlines for resolving disputes.

Payment Service Provider (PSP) 77

Payment Service Provider (PSP) Use Case Legal Agreements 77

Nanonets

APRIL 3, 2024

The vendor reconciliation process is the systematic procedure of verifying and aligning the financial records of a company with those of its vendors. Compliance and Audit Readiness: Vendor reconciliation plays a crucial role in ensuring compliance with regulatory requirements and audit standards.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

FloQast

OCTOBER 27, 2023

Write clear internal policies and procedures : Staff at all levels must understand the rules. For this reason, policies and procedures should be simple, clear, and concise. Provide training to all accounting staff : Train all Accounting Staff on the company’s compliance policies and procedures.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Global Fintech & Digital Assets

MARCH 5, 2024

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

Authorization 59

Authorization Product Due Diligence Procedures 59

EBizCharge

OCTOBER 12, 2023

Compliance with auditing procedures An accurate and up-to-date ledger amount, along with credits and debits, is required for compliant bookkeeping and accounting. Ledgers are used for internal audits and quarterly and annual taxes. Therefore, maintaining compliant ledger practices will simplify the IRS audit process.

Available Balance 52

Available Balance Audit Accounts Procedures 52