The Payments Association

JANUARY 13, 2025

Central to these changes are new statutory trust requirements, more prescriptive record-keeping, reconciliation standards, and the mandate for external safeguarding audits. Safeguarding audits: Firms are required to arrange safeguarding audits to assess compliance with the rules.

Compliance

Trade Credit & Liquidity Management

MAY 29, 2025

Foster Collaboration Between Legal and Technical Teams: Align tax, legal, and IT departments to manage the end-to-end invoicing process, ensuring invoices meet both regulatory and operational requirements. This collaboration helps avoid discrepancies and audit risks. In Summary.

ISO 20022

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

Nanonets

FEBRUARY 9, 2024

It also applies to accounting firms, audit agencies, and any third party that a publicly traded company uses in its accounting management process. The act requires companies to develop, publish, audit, and actively use their ICFR. A detailed look at specific findings and any issues arising from audit.

Audit

Nanonets

APRIL 2, 2024

Adjusting the Cash Account Balance: Making adjustments based on identified discrepancies to accurately reflect the company's cash balance. Adjusted Bank Balance: The ending balance adjusted for any outstanding deposits or withdrawals not yet recorded by the bank.

Reconciliation

FloQast

MAY 7, 2024

Automated checklist tools offer a significant advantage here: changes to the list can be made instantly, everyone can be notified of delays, and responsibilities or deadlines can be adjusted in a matter of clicks. As a company, we’re growing quickly and need to be audit ready at all times. I feel confident that FloQast helps with that.”

Reconciliation

Nanonets

SEPTEMBER 21, 2023

The essential steps of the accounting cycle include analyzing and recording transactions, posting to the general ledger, preparing a trial balance, making adjusting entries, preparing financial statements, making closing entries, and sometimes making reversing entries.

Accounts