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This Week in Fintech: TFT Bi-Weekly News Roundup 10/05

The Fintech Times

Shejoins Fintilect having recently served as a specialist fintech go-to-market executive consultant. FloQast , an accounting transformation platform, has unveiled a strategic partnership with PwC Belgium focused on ‘revolutionising’ accounting close automation solutions.

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Master SOX Compliance: A Comprehensive Guide for 2023

FloQast

It was known as the Corporate and Auditing Accountability, Responsibility, and Transparency Act. It prohibits auditors from providing certain consulting services to their audit clients and requires a rotation of the lead audit partner every five years.

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What are GL Codes and how to assign them effectively?

Nanonets

The result is a faster, more efficient close process that also saves up your time which can be better spent elsewhere. Reduce Risk of Fraud and Achieve Audit-Readiness : The granularity provided by GL codes offers an invaluable layer of security for businesses.

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General Ledger (GL): Definition, Significance, Implementation

Nanonets

Ready for an Audit: If one is audited by the IRS (Internal Revenue Service), it will be simple to formulate the audit since your monetary records are all in one spot. Compliance and Reporting Audit Trails : Records of changes to data for transparency and compliance. This enables you to balance the books.

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7 Steps to Automate your Accounts Payable

Nanonets

Compliance and Fraud Prevention : With built-in compliance checks and audit trails, AP automation tools help businesses adhere to regulatory requirements and reduce the risk of fraud. Companies gain a clearer view of their liabilities and can more effectively manage their working capital.