PYMNTS

NOVEMBER 26, 2019

The Prudential Regulation Authority (PRA), the supervisory arm of the Bank of England (BoE), has fined Citigroup a record-breaking $56.3 million for not completing accurate returns between 2014 and 2018, according to a report by Reuters.

Returns 54

Returns Audit Regulations Authorization 54

PYMNTS

JUNE 14, 2017

Brazil, however, is the most complex market in the region, and the second-most complex in the world, thanks to more than 90 taxes, duties and contributions charged by the local authorities. TMF Group noted that other areas, like understanding the local language and currency, “can prove vital in meeting reporting and compliance requirements.”.

Regulatory Compliance 58

Regulatory Compliance Compliance On-Demand Regulations 58

FICO

OCTOBER 26, 2017

As a result, financial institutions had to set up new processes, and most of the software vendors did not enhance their FATCA compliance solutions to cover the CRS reporting requirements. This process has to be audit-proof. CRS reporting is more of a regional topic (e.g., Life did not get easier.

Compliance 53

Compliance IRS Agreements Audit 53

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 52

Audit Risk Assessment Assessments Procedures 52

FloQast

DECEMBER 13, 2023

To protect investors by improving the accuracy and reliability of corporate financial reporting, Michael Oxley, Representative for Ohio’s 4th congressional district, quickly introduced a bill to the House less than two weeks later on February 14.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Stax

JANUARY 31, 2024

Audit your data security measures. Level 3 interchange rates apply to transactions that meet specific detailed reporting requirements, usually for business-to-business (B2B) and government transactions. These rates are often lower than standard rates but require more detailed transaction information.

Credit Cards 88

Credit Cards Push-to-Card Processors Transactions 88

EBizCharge

SEPTEMBER 6, 2024

These reports offer real-time insights and are crucial for financial management, performance tracking, and strategic planning. By automating tax calculations, businesses reduce the risk of errors that can lead to costly penalties and audits.

Accounts 52

Accounts CRM Automation Audit 52

Basis Theory

OCTOBER 1, 2024

So, while you may not need PCI Level 1 compliance, understanding the different levels of PCI compliance and the 12 PCI requirements will certainly help. PCI Levels allow organizations to understand and determine their reporting requirements when processing credit card payments. Learn more about PCI DSS Requirement 6.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Nanonets

APRIL 2, 2024

Updating Internal Records and Bank Statement: Ensuring internal records align with the reconciled figures, facilitating accurate financial reporting, audit compliance, cash flow management, and fraud detection.   This segregation of duties helps mitigate the risk of errors or fraudulent activities going undetected.

Reconciliation 52

Reconciliation Adjustments Automation Regulatory Compliance 52

FloQast

APRIL 12, 2024

You can create a Form ID on the EDGAR website and submit it for authorization to the SEC. Information with respect to the registrant. This section is the meatiest part of the prospectus. You first need to apply for access to the EDGAR system. Once you’re accepted, you will receive a unique Central Index Key (CIK) via e-mail.

Underwriting 52

Underwriting Indemnification Due Diligence Legal 52

Nanonets

AUGUST 1, 2023

This can include individuals responsible for verifying line items, checking for contract compliance, or authorizing payments. Audit Trail and Reporting: Throughout the automated procure-to-pay process, the system maintains a comprehensive audit trail, documenting each action taken on the documents.

Automation 40

Automation Payment APIs and Integration Audit Rules 40

Nanonets

SEPTEMBER 23, 2023

The software can generate crucial documents such as W-2s, 1099s, and sales tax reports, simplifying the filing process and ensuring compliance with reporting requirements. One of the key features of cloud-based accounting software is its ability to centralize data, making it easily accessible to authorized team members.

Small Business 52

Small Business Accounts Automation Compliance 52

Nanonets

AUGUST 2, 2023

Once you've determined whether to file an EEI, you can file it online through the Automated Export System (AES) or by using an authorized agent. Additional details may be required depending on specific regulations. File the EEI through the AESDirect portal or an authorized agent. These may include: 1.

Automation 52

Automation Regulations Compliance Legal 52

Nanonets

JANUARY 17, 2024

Now, you might be thinking, "We've got this covered with our trusty spreadsheets and quarterly audits." Maintaining a thorough and easily accessible audit trail is essential for compliance and transparency. Audits aren't just about compliance; they are about ensuring the integrity of financial reporting.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

Nanonets

SEPTEMBER 23, 2023

Government agencies often have strict rules regarding the allocation and spending of funds, and encumbrances help ensure that all expenses are accounted for and authorized. Encumbrances also facilitate transparency and accountability, allowing for better financial reporting and auditing.

Accounts 52

Accounts Government Governance Payroll 52

Nanonets

MAY 7, 2024

This may include regular review and validation of financial transactions, segregation of duties, approval workflows, and periodic audits. Compliance with regulatory standards and reporting requirements adds another layer of complexity to the expense reconciliation process.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Neopay

APRIL 14, 2025

As the Financial Conduct Authority (FCA) has proposed significant changes to the e-money and payment companies’ safeguarding regime, there are fears among many firms about the effects the new regulations will have on their businesses. Apart from the regulatory changes, businesses are still subject to safeguarding audits.

Audit 59

Audit Due Diligence Compliance Rules 59

Nanonets

APRIL 7, 2025

Regulatory data extraction manages compliance documentation, quality metrics, and reporting requirements for healthcare governing bodies. Regular audits and continuous improvement processes are essential to ensure the tool's accuracy and reliability over time.

Automation 52

Automation Regulatory Compliance Compliance Payment APIs and Integration 52

The Payments Association

APRIL 14, 2025

Legal issue/risk Next steps/action required Related links Legal issue/risk: Non-compliance with the European Accessibility Act may result in enforcement actions by national authorities, including fines, product withdrawal from the market, or restrictions on service delivery within the EU.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88