FloQast

JANUARY 22, 2025

Precision and adaptability are crucial in todays accounting environment. For finance and accounting professionals, using tools that drive efficiency isnt just helpfulits essential. The team has quarterly check-ins with our team, and really makes us feel like our feedback is being taken into account.

Accounts 52

Accounts Reconciliation Audit Finance 52

PYMNTS

SEPTEMBER 14, 2020

Deloitte will be the first of the “Big Four” auditors to break up its business after selecting a new auditing board to undertake the task, according to a report from The Telegraph. 11), Deloitte revealed it had set up an audit governance board to help to eventually separate the audit division from the rest of the company.

Audit 145

Audit On-Demand Consulting Rules 145

The Payments Association

MAY 12, 2025

Once a customer chooses to pay by bank, the transaction flows directly from their account via the selected provider, and no rerouting is required. This clarity is especially powerful in regulated sectors, where auditability and risk reduction are just as crucial as user convenience.

Regulations 88

Regulations Push-to-Card Instant Payments Non-Bank 88

FloQast

NOVEMBER 20, 2024

Efficient account reconciliations is a cornerstone of modern accounting practices, demanding precision and speed to keep pace with today’s financial landscape. Data Integrity Issues: Ensuring data accuracy and completeness while maintaining audit trails is crucial, yet difficult in a decentralized environment.

Reconciliation 105

Reconciliation AI Transactions Accounts 105

FloQast

SEPTEMBER 10, 2024

From the highest levels to the deepest valleys of hallucination , Gen AI’s potential, and its drawbacks, and, most relevantly here: How we see it impacting the accounting profession — now, and down the road. As Mike put succinctly: “There’s a huge talent shortage in accounting. Here’s a section I found particularly interesting.

AI 105

AI Accounts Audit Compromise 105

The Finance Weekly

NOVEMBER 3, 2021

Account reconciliation is the matching and validating of balances in the general ledger (GL) to internal and external sources or other independent calculations to accurately close month-ends and year-ends. For both internal and external sources, each balance has to match the corresponding account in the general ledger.

Reconciliation 130

Reconciliation Automation Accounts Finance 130

FloQast

SEPTEMBER 4, 2024

For The Joint Chiropractic (NASDAQ: JYNT), 2021 marked a pivotal year as they embarked on a journey to enhance their accounting operations by integrating FloQast into their processes. Enhanced Efficiency: The Joint Chiropractic reported a 13% reduction in their internal audit budget.

Compliance 98

Compliance Automation Accounts Audit 98

FloQast

MARCH 12, 2025

Today, FloQast is proud to unveil its latest innovation, FloQast AI Agents , powered by FloQast Transform, designed to help accounting teams automate workflows and transform their roles from preparers to reviewers. This launch is a key step forward in simplifying accounting and freeing up your teams time for more strategic, impactful tasks.

Automation 52

Automation AI Accounts Audit 52

VISTA InfoSec

MARCH 28, 2024

More importantly, regularly update your software to patch security vulnerabilities and conduct periodic security audits to identify and rectify potential weaknesses in your system. Regular audits of access rights can help ensure that employees only have access as long as needed for their current role.

Data Breach 278

Data Breach Regulatory Compliance Breach Encryption 278

Clearly Payments

JANUARY 15, 2025

Monthly or Annual Fees What It Is: Some processors charge a flat monthly fee for services like payment gateway access or account maintenance. Why Its Hidden: It might be labeled under generic terms like service fee or account fee, making it easy to overlook. Cost Range: Could be $10$40 per month or more.

Process 105

Process Processors Gateways Push-to-Card 105

PYMNTS

JUNE 29, 2020

According to emails seen by WSJ, the auditing firm knew of and had questions about the arrangements and was signing off on Wirecard’s financial results for years anyway. The revenue from those businesses was deposited in trust accounts rather than paid straight to the company.

Audit 130

Audit Risk Management Accounts Risk 130

Fintech News

JANUARY 13, 2025

However, this system is mainly used for accounts receivable, leaving room for the automation of accounts payable too. Singapore-based businesses already acknowledge that AI could enhance audit capabilities and task automation. Automating these processes can benefit SMEs. Undoubtedly, AI can provide succour to finance managers.

AI 123

AI Finance Automation SWIFT 123

VISTA InfoSec

FEBRUARY 25, 2024

User Account Details Usernames, passwords, security questions, login timestamps, failed login attempt logs, password reset tokens, multifactor authentication details, and session IDs. And painful account recovery procedures await all users who must reset passwords across potentially dozens of breached websites.

Data Breach 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

Clearly Payments

NOVEMBER 13, 2024

Supporting High-Risk Merchant Accounts : For high-risk industries , BIN information can be especially important. Verification and Approval : The issuing bank reviews the transaction, confirms the cardholder’s account details, and assesses if there are sufficient funds or available credit.

Process 104

Process Processors Payments Compliance 104

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. If AI systems are not transparent or auditable, it becomes difficult for regulators to assess whether the systems are operating in a manner that protects consumers privacy.

Privacy 88

Privacy Payment Security AI Security 88

FloQast

JUNE 10, 2024

Accounting thrives on precision and efficiency. Scratch that: Accounting cannot operate without precision and efficiency. The unsung heroes behind the scenes in every business, accountants ensure the smooth operation of this intricate system. But that doesn’t make things easy.

Addressing 104

Addressing AI Accounts On-Demand 104

The Payments Association

FEBRUARY 14, 2025

This includes setting up dedicated safeguarding accounts, ensuring proper segregation of customer funds, and maintaining accurate records. Regular audits and compliance checks : Firms will face enhanced monitoring and reporting under the proposed policy.

Stablecoins 88

Stablecoins Payment APIs and Integration Regulatory Compliance Compliance 88

Clearly Payments

APRIL 17, 2025

In payments, it involves checking your internal recordssuch as your accounting or sales dataagainst records from other sources, like banks, payment processors , credit card companies, or financial institutions. For example, a business may sell 100 items online and expect $10,000 to be deposited into their account.

Reconciliation 52

Reconciliation Payment Reconciliation Processors Payments 52

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. The primary focus on monitoring master accounts leaves an oversight gap that can be exploited for illicit financial activities. Previous slide Next slide What are vIBANs?

IBAN 88

IBAN AML Master Account Due Diligence 88

FloQast

MAY 15, 2024

Overview In the face of mounting workloads, technological fragmentation, and a talent shortage, the accounting profession is at a critical juncture. Embracing technological advancements is imperative for ensuring the sustainability and efficiency of accounting teams. Accounting thrives on precision and efficiency.

Accounts 105

Accounts AI Automation On-Demand 105

FloQast

JANUARY 10, 2024

So, the team set a November deadline — pretty aggressive considering the shift to remote work and everything that needs to be handled from an accounting perspective in order to do so. But Cricut’s small, but mighty, accounting team rose to the challenge. Streamlining the Month-End Close With 8.4

Accounts 105

Accounts Reconciliation Compliance Close Processes 105

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

FloQast

MARCH 27, 2024

For a profession that digests a volume of data that many others might not think possible, the onus on accountants to ensure accuracy consistently can seem daunting. This is, of course, precisely why reconciliations are so core to the accounting function. Remember those last few words: They’re foreshadowing.

Reconciliation 105

Reconciliation Audit Accounts Best Practices 105

FloQast

MAY 9, 2024

Amidst these challenges, the recent enhancements to FloQast’s Compliance Management solution offer a beacon of hope for finance and accounting teams. The Accountability Challenge: Challenge : Ensuring clear instructions and responsibilities for control execution is vital.

Compliance 105

Compliance Audit Risk Assessment Assessments 105

Clearly Payments

APRIL 8, 2025

Operations: Streamlining Payment Processes to Reduce Friction Payments touch nearly every part of an enterprise: finance, accounting, customer support, compliance, IT, and beyond. This leads to technical debt, fragmented customer experiences, and difficulty integrating new technologies.

Consulting 89

Consulting Payments Cross-Border Due Diligence 89

VISTA InfoSec

DECEMBER 19, 2024

Promoting Accountability: Encouraging financial institutions to take responsibility for securing their local environments and ensuring compliance through independent SWIFT CSP assessments. Assign clear accountability for implementing and maintaining SWIFT security controls. Disable unused or unnecessary accounts promptly.

SWIFT 173

SWIFT Cybersecurity PCI DSS Compliance 173

The Fintech Times

JANUARY 31, 2025

B Corp is a rigorous assessment that verifies companies have met high standards of social and environmental performance, transparency, and accountability: theres absolutely no room for mere box-ticking. “To hold fintechs accountable, they need to be clear in their communication about algorithms, lending terms, and fees.

FinTech 64

FinTech Audit Financial Inclusion Advisors 64

Basis Theory

NOVEMBER 12, 2024

Today, we can tokenize anything from credit card primary account numbers (PAN) to one-time debit card transactions or social security numbers. Completing audits and other non-value-generating work consumes resources, timelines, and funds. Tokenization, however, has reframed the conversation, leading to an explosion in its usage.

Encryption 157

Encryption Payment APIs and Integration PCI DSS Returns 157

FloQast

JANUARY 17, 2024

The consultation set out proposals for a range of legislative and governance reforms to be implemented in the Code in 2024, including the introduction of a new regulatory body, known as the Audit, Reporting, and Governance Authority (ARGA), which would replace the FRC. New malus and clawback arrangement disclosures.

Government 102

Government Governance AAP Audit 102

Fintech News

FEBRUARY 10, 2025

Regulators need clear guidelines on accountability, particularly in cases of erroneous or harmful AI-driven decisions, such as wrongful fraud detection or unfair credit scoring. Regulators risk being left behind if they fail to create forward-thinking policies that account for the complexities and risks of AI in financial services.

AI 82

AI FinTech Fraud Detection Fraud Prevention 82

Neopay

MARCH 6, 2025

These charges stem from accusations that between 2014 and 2023, Dance misappropriated over 64 million from client accounts of WealthTek and Vertus. regular compliance audits: Proactive audits help in identifying gaps before they escalate into major regulatory breaches.

Money Laundering 52

Money Laundering Audit Due Diligence Compliance 52

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

The Fintech Times

NOVEMBER 13, 2024

Family features With Pocket, Family’s dedicated self-custody account service, users can set up a wallet using their email or phone and a passkey or password. Avara places a special emphasis on security and has ensured the Family wallet has been thoroughly audited before release by top security firm Zellic.

Encryption 109

Encryption Transactions Credential Audit 109

FloQast

APRIL 30, 2024

Organizational Chaos : Compliance documents managed in spreadsheets often lead to version control issues and synchronization challenges, hindering effective control implementation and audit processes. But we’re finance and accounting professionals, and professional sports was likely never a real option. Audits in general are a pain.”

Compliance 105

Compliance Addressing Audit Risk 105

Fintech Review

JANUARY 30, 2025

With recurrent checks of counterparties and providers, as well as ongoing audits; Information exchange. Only the specifics of the work of regulators are important, which must be taken into account in each of the new markets, Artem Lyashanov summarizes. Theres no clear requirement on this point.

Regulations 98

Regulations Risk Management Participant Cybersecurity 98

FloQast

AUGUST 22, 2024

Centralized Reconciliation: Comprehensive account reconciliation and completeness reporting. Enhanced Accuracy: Improved completeness and audit readiness with detailed reconciliation reports. Enhanced Accuracy: Improved completeness and audit readiness with detailed reconciliation reports.

Reconciliation 86

Reconciliation Audit Close Processes Compliance 86

Finovate

JANUARY 8, 2025

FINBOA’s technology has produced up to a 90% reduction in dispute intake effort and up to an 80% reduction in audit prep time. ” Lumin Digital offers digital solutions for retail banking, commercial banking, and account opening to help financial institutions better maximize efficiency and engage customers and members.

Disputes 59

Disputes Credit Union Audit Non-Bank 59