CFO Talks

NOVEMBER 29, 2024

My career journey began at the age of 20, working in banking shortly after finishing my studies. This opportunity allowed me to audit clients like the South African Revenue Service and South African Tourism, as well as manage accounts for Mastercard South Africa. on the last day of the audit, was unforgettable.

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CFO Auditing Leadership Finance 95

PYMNTS

OCTOBER 6, 2020

Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. Sharing the Compliance Burden.

Compliance 71

Compliance Auditing Securities Education 71

CFO Talks

MARCH 5, 2025

Some examples include: Banks and financial services These businesses must follow rules like Basel III, which ensures they have enough money to cover risks. Knowing the specific rules for your industry helps you prepare in advance and avoid compliance issues. These rules are designed to protect customers, investors, and the economy.

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IFRS Auditing Compliance Financial Data 52

Future CFO

JUNE 12, 2024

Equity investors and asset managers are the visible tips of the iceberg, but beneath the surface, 91% of banks monitor ESG, as well as 24% of global credit rating agencies, 71% of fixed-income investors and over 90% of insurers. The post Delivering value beyond compliance with ESG reporting appeared first on FutureCFO.

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Compliance IFRS Risk Management Finance 98

PYMNTS

MARCH 5, 2019

The Reserve Bank of India (RBI), the country’s central banking institution, has fined almost 20 lenders, including the State Bank of India and ICICI Bank, for not complying with rules on the use of worldwide payments network SWIFT, according to reports. The specific reasons for the non-compliance was not released.

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Compliance Banking Auditing Financial Systems 56

CS Lucas

NOVEMBER 25, 2024

Compliance Made Easy: Audit trails and data controls are built in, ensuring accuracy and accountability without extra effort. Streamlined Payment Workflows: Automates validation and ensures global compliance standards are met, reducing risk while improving efficiency.

Treasury 52

Treasury Compliance Auditing Accounting 52

The Finance Weekly

DECEMBER 1, 2024

The idea is to compare two sets of records—your internal records (like your company’s general ledger) and external ones (like bank statements or vendor invoices). For example, if your internal records say your bank account has $10,000, but your bank statement shows $9,800, you’ve got a discrepancy. What Causes Discrepancies?

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Reconciliations Accounting General Ledger Invoicing 52

CFO Talks

APRIL 10, 2025

Using tools like Power BI, IDEA, or even Excel with pivot tables, you can identify: Duplicate payments Payments outside business hours Transactions near internal control thresholds Inconsistent vendor banking details Round number patterns (e.g. They understand that fraud risk isnt a threat to be buried in an audit report.

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Leadership Auditing CFO Reconciliations 52

PYMNTS

SEPTEMBER 20, 2016

In the latest installment of Flywire ’s podcast series on Global Citizens and the top characteristics of x-border payment processors , we take a look at the compliance, rules and regulation side of getting high-ticket international payments from Point A to Point B.

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Compliance Education Auditing Securities 71

The Charity CFO

AUGUST 23, 2024

Download the Article For nonprofits, audits are more than just a regulatory requirement–they’re a tool for safeguarding the organization’s mission and financial health. An audit helps improve an organization’s financial transparency, builds donor trust, and ensures compliance with regulations. Pre-Audit Prep 1.

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Nonprofit Auditing Compliance CFO 52

The Charity CFO

MAY 6, 2022

The Uniform Grant Guidance (UCG) outlines these rules that recipients of federal grants must follow to maintain compliance; and penalties for non compliance can be severe. You must be closing your books each month ; that means reconciling all of your bank accounts and credit cards. Are you ready to prepare for federal funding?

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Nonprofit Auditing Financial Systems CFO 119

CFO Talks

FEBRUARY 25, 2025

What is IFRS Compliance? For multinational companies, compliance with IFRS is often not just a choice but a requirement. If an investor in Japan wants to invest in a UK-based firm, IFRS compliance reassures them that they can trust the numbers in the financial statements. But what does it really mean to be IFRS-compliant?

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IFRS Financial Reporting Compliance Accounting Standards 52

CFO Plans

SEPTEMBER 9, 2024

One crucial aspect that often gets overlooked is the requirement to file foreign ownership disclosures and potentially an FBAR (Report of Foreign Bank and Financial Accounts). It’s designed to capture information about foreign bank accounts, brokerage accounts, and other financial assets held outside the U.S.

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Compliance Startups Auditing CFO 52

PYMNTS

SEPTEMBER 22, 2016

Know Your Customer regulations can mean corporations have to wait as long as three months — yes, months — to get onboarded to a new bank. According to Khosla, normally, banks in each jurisdiction would have to aggregate documents and information about their clients manually. ” Khosla said. ” Khosla said. On Tuesday (Sept.

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Banking Compliance Prioritization Auditing 75

PYMNTS

AUGUST 6, 2020

Monzo Bank Ltd, the London-based online bank, must now have a capital worth of 13.6 The Financial Times (FT) reported the new requirements are among the first signs the Bank of England ( BoE ), the United Kingdom’s (U.K.) That’s more than more than twice as high as many mainstream banks in the U.K.,

Banking 78

Banking Profit and Loss Auditing Startups 78

Future CFO

SEPTEMBER 16, 2024

Global full-cycle verification provider Sumsub received full regulatory compliance approval for its non-doc identity verification solution following a regulatory-led audit conducted by FINTRAIL, a global-consultancy specialising in financial crime risk management and regulatory compliance.

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Compliance Risk Management Auditing Securities 103

E78 Partners

SEPTEMBER 21, 2023

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. This is not just because of the intricacies and specificities required by the auditing standards but also due to the numerous challenges faced by organizations in the run-up to an audit.

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Auditing General Ledger Reconciliations Accounting Standards 52

Future CFO

MARCH 28, 2021

The internal audit function faced both declining budgets and a significantly expanded workload in 2020, according to Gartner survey of 299 internal audit organisations in 2020. The obvious implication, if the picture doesn’t become more balanced, is that audit leaders will have to make tough coverage trade-off decisions.”

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Auditing Budgeting Banking Securities 52

PYMNTS

NOVEMBER 25, 2020

The age of artificial intelligence (AI) is upon us, where data feeds and models are used in the service of everything from verifying the digital identity of remote users to approving or denying a bank loan application. He said the person would examine a slew of facial images to determine authenticity, and in effect audit the data.

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Auditing Compliance Banking 141

PYMNTS

OCTOBER 30, 2020

Slow compliance checks and sluggish processing times are commonplace, especially on the legacy systems still used by many banks around the world. It is therefore imperative that banks, credit unions and other financial institutions (FIs) modernize their payments infrastructures for a quicker, cheaper payments experience.

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Compliance Entertainment Auditing Banking 91

Future CFO

JUNE 15, 2021

While 62% of organisations expect external audit fees to rise this year, they could combat this by automating their internal controls, said Gartner recently when releasing results of a survey of 166 publicly traded and privately held external audit firm clients across industries in March-April of 2021.

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Auditing Financial Reporting Finance Numbers 52

PYMNTS

JUNE 3, 2020

Bank-FinTech collaboration continues to proliferate in markets around the world. and Europe embracing FinTechs in Open Banking efforts. Below, PYMNTS breaks down the latest in bank-FinTech partnerships. Below, PYMNTS breaks down the latest in bank-FinTech partnerships. ” LiquidX Links Banks To Trade Finance Tech.

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Banking Auditing Finance Treasury 68

CFO Talks

OCTOBER 3, 2024

Cash Handling Issues : Missing deposits, discrepancies between sales records and bank deposits, or unauthorised cash disbursements are red flags. Actionable Preventive Steps: Establish Strong Governance : Set up an independent audit committee to oversee financial reporting and ensure that internal audits are performed regularly.

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Invoicing Auditing Benchmarking Reconciliations 98

PYMNTS

DECEMBER 6, 2019

Deutsche Bank has settled a case with Frankfurt prosecutors that involved a raid on its offices and resulted in a huge hit on earnings and stock value over suspected money laundering, according to a report by Bloomberg. . Deutsche Bank spokesman Joerg Eigendorf said that the settlement puts a stamp on a case “that burdened us a lot last year.”

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Banking Auditing Compliance Investments 52

PYMNTS

SEPTEMBER 29, 2017

Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help. Managing Risk.

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Treasury Banking Compliance Risk Management 56

PYMNTS

DECEMBER 12, 2018

Cash is king in business — or at least the maxim holds true for some businesses, where legal issues are works in progress and banks shy away from providing services. To that end, the number of banking firms that actively provide services for marijuana firms has grown by 20 percent since the dawn of 2018.

Banking 68

Banking Compliance Treasury Vendor Management 68

The Charity CFO

MAY 31, 2022

Even on nonprofit financial committees, some members may be skilled in accounting, others in banking, and others in investing or financial analysis. To fully grasp your nonprofit finances, you need to start to understand the major compliance requirements that impact your organization. . Step #3: Understand what is required.

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Nonprofit Finance Auditing Accounts Payable 98

CFO Leadership

OCTOBER 10, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

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Accounting Finance Auditing IFRS 95

PYMNTS

AUGUST 14, 2019

of India is reviewing an audit report to ensure WhatsApp complies with local rules. “We We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for NCPI said, according to Bloomberg. The National Payments Corp.

Compliance 40

Compliance Auditing Banking Marketing 40

CFO News

AUGUST 30, 2023

The Reserve Bank of India (RBI) has urged the directors of Urban Co-operative banks (UCBs) to enhance governance practices to ensure stability. RBI governor Shaktikanta Das highlighted the importance of a professional Board of Management and emphasised the need to strengthen compliance, risk management, and internal audit.

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Banking Risk Management Auditing Compliance 52

PYMNTS

JANUARY 26, 2021

To address this moving compliance target, or evolving set of standards, Mashiyev said iLobby has rolled out four new features in the past seven months, including FeverCheck, Touchless Sign-in, FaceMatch and adding things like COVID questionnaires to the workforce management sign-in process. “All Goodbye Caveman.

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Compliance Auditing Manufacturing Planning 116

PYMNTS

FEBRUARY 12, 2019

The case highlights the risks and challenges companies face in not only vetting their suppliers, but vetting their suppliers’ suppliers, with third-party vendors a potential source of non-compliance for importers. According to reports, following the disclosure of the violations, e.l.f.

Compliance 43

Compliance Risk Management Auditing Treasury 43

The Charity CFO

APRIL 19, 2022

Red Flag #2: Hidden Compliance Issues. When most nonprofits think about ‘accounting issues,’ they’re concerned about poorly prepared financial reports, bookkeeping errors, gaps in communication with funders, bad audits and a million more things in this vein. DO NOT let compliance issues linger. And those are all valid concerns.

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Nonprofit Compliance Auditing Accounting 98

PYMNTS

FEBRUARY 22, 2017

Nearly 80 percent of businesses surveyed in that report said they have taken some type of measure to make up for the cost of compliance, with Basel III cited as having the greatest negative impact for businesses. The banking sector is moving away from offering a simple, straightforward view via statements and transaction data, Cashfac noted.

Accounting 54

Accounting Banking Cash Management Compliance 54

PYMNTS

DECEMBER 11, 2020

Backers placed the spotlight on everything from B2B eCommerce, to supply chain optimization, to Banking-as-a-Service, but human resources and payroll landed in the top spot in this week's VC roundup. The company supports the full purchasing cycle with invoice integration and compliance auditing capabilities. Modularbank.

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B2B eCommerce Banking Healthcare 77

CFO News Room

DECEMBER 16, 2022

They may work in various industries, such as investment firms, accounting firms, banks, or the government. Chief Compliance Officer. A chief compliance officer ensures financial institutions adhere to all applicable laws and regulations. Average salary: $114,832 per year. Financial Examiner. Average salary: $81,410 per year.

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Finance Budgeting Financial Analyst Compliance 130

Global Finance

OCTOBER 10, 2024

The governor of the Central Bank of Iraq, Ali Muhsen al-Allaq, speaks to Global Finance about the main challenges and top priorities for the bank. How did that impact the Iraqi banking sector? That created a major challenge for banks in settling deposits and loans, ultimately undermining public confidence in the banking system.

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Banking Economics Compliance Construction 59