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

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

The Fintech Times

FEBRUARY 14, 2024

Crucial for organisations worldwide, this transformation rewrites the rules and offers a seamless alternative to tedious data entry, high processing costs, and lost invoices, promising a new era of financial agility. What is AP automation? Current trends in AP automation The current AP automation market is dynamic.

Automation 102

Automation Process Duplicate Compliance 102

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

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

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

Nanonets

APRIL 3, 2024

Guide to the Vendor Account Reconciliation Process Running a business involves collaboration with various vendors who provide different kinds of products and services. Vendor reconciliation , a crucial part of this process, involves scrutinizing purchase-related documents to ensure accuracy in all vendor transactions.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

Stax

JANUARY 15, 2024

Are you struggling with resource constraints caused by soaring credit card processing costs? Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. It offsets the card processing costs, transferring the financial obligation to the latter.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

FloQast

OCTOBER 21, 2024

For accounting professionals, implementing a solid automated bank reconciliation process can change the way they approach financial operations within their business. Plus, monitoring the progress of your new procedures can help you gain insights to further optimize your reconciliations.

Reconciliation 52

Reconciliation Automation Process Best Practices 52

VISTA InfoSec

MAY 24, 2024

Establish processes for ongoing monitoring, vulnerability scanning, and penetration testing to identify and address security vulnerabilities promptly. Establish processes for ongoing monitoring, vulnerability scanning, and penetration testing to identify and address security vulnerabilities promptly. of PCI DSS. of PCI DSS.

PCI DSS 243

PCI DSS Small Business Assessments Compliance 243

Nanonets

SEPTEMBER 25, 2024

For businesses processing thousands of bank statements daily—from insurance companies to financial institutions, bank statement processing presents a challenge and an even bigger opportunity for automation. In this article, we’ll explore applications of AI and automation for bank statement processing.

AI 52

AI Process Best Practices Reconciliation 52

Stax

SEPTEMBER 17, 2024

Each requirement plays a critical role in building a secure environment for payment processing. These include penalties, legal repurcussions, and the revocation of credit card processing privileges. Each requirement plays a critical role in building a secure environment for payment processing. What is PCI Compliance?

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Nanonets

SEPTEMBER 27, 2024

According to a recent study by Datos Insights , the insurance industry lags in terms of digitisation, with only 20% automation in underwriting and less than 3% automation in claims processing across sectors. Underwriting and claims processing are two key insurance processes that are still handled manually.

Process 52

Process Underwriting Automation Database 52

Nanonets

SEPTEMBER 23, 2023

The  requisition order  process is an integral aspect of these functions, allowing businesses to manage orders, track expenses, and maintain inventory records. In this guide, we will explore the  requisition process  and its role in accounting, as well as discuss best practices for managing and optimizing the process.

Process 52

Process Best Practices Compliance Procedures 52

Fintech Finance

NOVEMBER 18, 2024

Leading audit, tax and consulting firm RSM UK is encouraging payment providers and other interested parties to respond to the FCA consultation which closes on December 17 th. This phase will put more onus on payment providers to implement better record keeping, reporting and monitoring processes.

Consulting 83

Consulting Payments Regulations Reconciliation 83

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

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. Verify secure data deletion processes. PCI DSS v3.2.1 PCI DSS v4.0

PCI DSS 100

PCI DSS Encryption Procedures Authorization 100

Synapse Payment Systems

JANUARY 3, 2023

Inventory management software automates the process of monitoring your stock and can help you discover trends. As for cost, a Clover POS is free when you choose a processing plan with Synapse Payment Systems. An important part of any return procedure is collecting data on why customers are bringing the item back.

Small Business 130

Small Business Audit Procedures Returns 130

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. Senior management must also receive training to understand safeguarding processes and risks.

Compliance 52

Compliance Procedures Audit Risk Management 52

Global Fintech & Digital Assets

JANUARY 12, 2024

Long , Parag Patel , Barrie VanBrackle , Pia Naib , and Deric Behar On December 14, 2023, a bipartisan group of senators introduced the Fair Audits and Inspections for Regulators’ Exams Act (FAIR Exams Act), which seeks to increase transparency in the bank examination process.

FFIEC 52

FFIEC Process FRB Consumer Financial Protection Bureau (CFPB) 52

Clearly Payments

JANUARY 8, 2024

In the rapidly advancing world of payments and eCommerce, merchants find themselves navigating a landscape of risk in payment processing. In this guide, we go into the topics of risk management in payment processing, equipping merchants with the knowledge and strategies needed to secure their transactions.

Risk Management 66

Risk Management Risk PCI DSS Process 66

EBizCharge

MAY 24, 2024

Businesses can also incorporate embedded payments for more efficient and integrated transaction processing in Sage. Instead, payment processing is woven into the natural flow of the application, website, or platform service that the user is already utilizing. What are embedded payments?

Embedded Payments 52

Embedded Payments Process PCI DSS Payments 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

JANUARY 29, 2024

Defined and understood processes and mechanisms are in place to safeguard all systems and networks from malicious software. 5.2 Anti-malware processes and mechanisms are active, regularly maintained, and monitored. 5.4 OR -> Carries out continuous behavioral analysis of systems or processes. Regular scans are carried out.

PCI DSS 130

PCI DSS Phishing Best Practices Procedures 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. The due diligence process for third parties, which include authorised credit institutions, custodians or insurance providers, needs to be available and evidenced.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

VISTA InfoSec

SEPTEMBER 28, 2023

Notify and Obtain Consent Before Data Processing: Under the DPDP Act, it is mandatory for a data fiduciary to notify and obtain consent from the data principal before processing personal data (Clause 5, DPDP Act). These measures ensure lawful, transparent processing of personal data while maintaining privacy.

Privacy 130

Privacy Audit Data Breach Breach 130

Nanonets

MARCH 4, 2024

Expense reimbursement is a fundamental aspect of business operations, encompassing the process by which employees are paid back for expenses they've incurred on behalf of the company. However, managing this process is fraught with challenges. leveraging the right technology to streamline your expense reimbursement workflow.

Process 52

Process Compliance Automation Audit 52

Neopay

JANUARY 2, 2024

Maintaining a robust oversight and monitoring program, whether internal, external, or a combination of both, is crucial to ensuring the business operates in accordance with regulatory requirements and internal processes. Policies and procedures form a key part of effective governance within any firm.

Regulatory Compliance 59

Regulatory Compliance Compliance Audit Procedures 59

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 84

Compliance ISOs Procedures Audit 84

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

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

MAY 8, 2023

Reconciliation is a mandatory process for businesses of all sizes. Let’s look at the reconciliation processes and how reconciliation software simplifies reconciliation for your finance department. The manual process involves Matching documents manually or using different excel sheets. How do reconciliation manually?

Reconciliation 52

Reconciliation Automation Process Adjustments 52

Nanonets

MAY 31, 2023

 While there are two participants in a procurement process – the buyer and the seller, it is the act of procurement by the buyer that is referred to as the procurement process. Let us see what the procurement process is and why digitizing the process offers advantages. What is a procurement process?

Process 52

Process Automation Product Third Party Vendors 52

The Payments Association

OCTOBER 11, 2024

Firms must prepare for these changes by improving their internal processes, conducting audits, and adapting to new compliance requirements to ensure seamless implementation of the FCA’s reforms. What’s next?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

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

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. This process involves a thorough review of security policies, access controls, and other safeguards to ensure they meet the highest standards.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130