The Charity CFO

FEBRUARY 8, 2024

Does the idea of a financial audit on your nonprofit leave you feeling nervous? For many nonprofits, a full financial audit can help ensure the accuracy of their financial recordkeeping. Luckily, not all financial situations require an audit. However, it can also feel invasive and overwhelming.

Auditing 52

Auditing Nonprofit Compliance CFO 52

Future CFO

JUNE 24, 2024

The balance sheet and key financial ratios should tell the strengths and problems of the Company. It’s not easy to go through all the financial data to identify what’s relevant and what’s not. This will be an ongoing challenge with AI as there should always be a means to review and audit the system and results.

Auditing 111

Auditing Financial Analysis Forecasting Reconciliations 111

https://trustedcfosolutions.com/feed/

MARCH 22, 2023

You can track invoices, payments, and expenses in real time and securely access your financial data from anywhere. This includes the segregation of duties, approval workflows, and regular audits. Cloud accounting software like Sage Intacct can help you manage your accounts payable more efficiently. Electronic Payment Systems.

Accounts Payable 108

Accounts Payable Accounting Invoicing Reconciliations 108

Future CFO

MAY 15, 2024

Now, with AI and automation, this has presented even more possibilities to make the audit process less tedious,” he opines. On the topic of AI, Nair affirms that organisations are increasingly tapping into the potential of AI across a range of audit-related processes to enhance accuracy, monitoring and efficiency. “AI

Finance 98

Finance Auditing Compliance Leverage 98

PYMNTS

FEBRUARY 14, 2017

million in funding last year, helps SaaS companies manage operations by providing financial management, auditing and reporting, analytics and other back-office services. The business model of SaaSOptics could, in part, be described as a B2B SaaS firm for B2B SaaS firms. The company, which raised $1.8

Financial Data 53

Financial Data Forecasting B2B Auditing 53

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. With a large and diverse enough data set (e.g.

Accounting 95

Accounting Finance Auditing IFRS 95

CFO Talks

AUGUST 28, 2024

Annual Financial Statements (AFS) Submission Requirement: The Companies Act mandates that all public companies, state-owned companies, and certain private companies with a public interest score above a specified threshold must prepare and submit annual financial statements.

CFO 83

CFO Auditing Compliance IFRS 83

PYMNTS

JULY 5, 2017

The nature of financial reporting is to communicate facts aggregated using accounting rules. These facts can be audited back to the source. The value of a predictive algorithm is very limited in a reporting process, mainly because the outcome cannot be audited.”

Financial Data 52

Financial Data Auditing Financial Reporting CFO 52

CFO Talks

FEBRUARY 25, 2025

If both companies involved follow IFRS, negotiations and due diligence become much easier because financial statements are prepared comparably. For example, if a European company wants to acquire a South American firm, IFRS ensures that both parties understand the financial data being reviewed.

IFRS 52

IFRS Financial Reporting Compliance Accounting Standards 52

The Charity CFO

APRIL 5, 2022

Financial statement audit or review – if you are required to undergo a financial statement audit or assessment, using the accrual method to be in accordance with GAAP will make the process much smoother and less expensive. Do you need to undergo an audit? . Is Accrual Accounting a Requirement For You?

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

CFO Talks

SEPTEMBER 13, 2024

My name is Lawrence Nsibandze, and I began my career back in 2001 with the Price Hotel Group as an audit clerk. I spent about four and a half years there, doing external audits for clients under international standards. In this role, I introduced a risk-based auditing approach and later became the bank’s financial manager.

Finance 97

Finance Auditing CFO Leadership 97

CFO Share

JULY 16, 2024

They prepare financial reports and statements that clearly and accurately represent the company’s financial position. Internal Controls Controllers implement and oversee internal controls to prevent fraud and ensure the accuracy of financial data.

Financial Planning and Analysis (FP&A) 98

Financial Planning and Analysis (FP&A) CFO General Ledger Compliance 98

CFO News Room

DECEMBER 2, 2022

I needed to feel confident that if someone did come in to audit us, those numbers were solid and credible. I really enjoy presenting financial data in a way that’s easy for someone without a financial background to understand and explaining things in laymen’s terms.” . I had to really believe in them.”.

Technology 130

Technology CFO Benchmarking Numbers 130

Centage

SEPTEMBER 6, 2022

Lack of Security Features Excel may be an easier target for hackers due to inadequate encryption features for protecting your sensitive business information, such as identifiable details and confidential financial data. Without separation of duties or an audit that can track who has had access to the data, fraud can occur.

Securities 98

Securities Cash Flow Forecasting Budgeting Forecasting 98

PYMNTS

NOVEMBER 26, 2019

The regulator said the data it received from Citigroup was not acceptable, and the way the bank handled the reporting processes was not effective. Banks have to regularly report financial data to make sure they’re operating within the law, and to make sure they have buffers against market shifts in terms of risk and capital.

Auditing 76

Auditing Banking Financial Data Financial Reporting 76

The CFO College

AUGUST 31, 2021

Tracking Financial Data -- Reporting, recording, and storing all financial data for a startup can be overwhelming, if not a total mess. Perpetual data room that gives all applicable parties access to reports, transactions, and tax information at any time. And much more. Tax law is highly complicated.

Startups 81

Startups Accounting General Ledger Forecasting 81

PYMNTS

JUNE 22, 2020

Because Wirecard did not release its audited annual results (for 2019) last week, the loans could be called in. We’ll note that when an auditor refuses to sign off on a client firm’s results, much of the financial data previously reported should be viewed with a skeptical eye.

Auditing 77

Auditing Banking Financial Systems Financial Data 77

CFO Talks

SEPTEMBER 17, 2024

Building Robust IT Systems for Financial Reporting As financial operations become increasingly complex, having the right IT infrastructure in place is no longer just a back-office necessity—it’s a strategic advantage. Cloud-Based Solutions: Cloud technology allows CFOs and their teams to access financial data anytime, anywhere.

Financial Reporting 52

Financial Reporting Auditing Compliance CFO 52

The Charity CFO

MAY 31, 2024

Prepare for Audits Inaccurate financial data is one of the top mistakes found in nonprofit audits , but a well-organized bookkeeping system can help you be ready for an audit. This leads to more accurate financial records and reduces the risk of costly mistakes.

Nonprofit 52

Nonprofit Technology Auditing Profit and Loss 52

CFO News

JULY 23, 2023

Top Indian companies are facing challenges due to the capital-markets regulator's new Environmental, social and governance (ESG) rules as they struggle to collate non-financial data dispersed across various internal systems, evaluate the impact of disclosing private data on sensitive governance issues, and start dealing with the complexity of capturing (..)

Auditing 52

Auditing Financial Data Marketing 52

The Charity CFO

FEBRUARY 4, 2022

A bookkeeper records and organizes financial data; an accountant interprets and presents that data. . The nonprofit bookkeeper is the front line in the battle for the accurate financial data you need to run your business, so let’s review the core responsibilities of a nonprofit bookkeeper. .

Nonprofit 98

Nonprofit Invoicing General Ledger Accounting 98

Future CFO

AUGUST 21, 2023

Robert E Parker "As we look forward to the developments in AI, finance leaders will be in a better position to uncover hidden opportunities and risks and step beyond using structured financial data by utilising data from across organisational silos enhanced with data from outside the organisation."

Finance 98

Finance Compliance Data Analysis Leverage 98

Future CFO

FEBRUARY 1, 2024

"It is absolutely critical businesses implement an accounting and reporting system for their ESG data that is as auditable, transparent, and reliable as their financial data accounting," Hasenoehrl says, "2024 is the year we have to start treating enterprise carbon data the same way we treat financial data."

Finance 52

Finance SAP Auditing IFRS 52

Future CFO

FEBRUARY 2, 2025

Charlie Cheah Best practices and risk management Cheah highlights that data security is crucial when implementing AI in AP processes. Best practices include: Data Encryption: Ensuring all financial data processed by AI systems is encrypted at rest and during transmission to prevent unauthorised access.

Accounts Payable 52

Accounts Payable Accounting Invoicing CFO 52

PYMNTS

DECEMBER 7, 2017

According to Jake Benson, CEO of back-office software provider Libra , that’s because traditional accounting and auditing software solutions aren’t compatible with blockchain, rendering them unable to access, manage and analyze financial data stored on distributed ledgers. Libra, which recently announced $7.8

Accounting 52

Accounting Auditing Valuation Financial Data 52

CFO Talks

SEPTEMBER 5, 2024

Ensuring Data Integration In today’s interconnected world, your FIS must seamlessly integrate with other business systems, such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Human Resources (HR) systems.

IFRS 98

IFRS GAAP Compliance Reconciliations 98

Bramasol

OCTOBER 2, 2024

These include carbon taxes and ETF trading schemes, emphasizing the urgency to meet data and compliance standards. However, many companies struggle to gather all the necessary data due to error-prone manual processes and incomplete audit trails that jeopardize internal compliance and external assurance.

SAP 81

SAP Prioritization Education Compliance 81

Fpanda Club

SEPTEMBER 2, 2021

Planning, budgeting and forecasting are linked together forming financial planning processes. Financial analysis is a type of economic analysis based on the financial data and focused on the assessment of stability and evaluation of profitability of a company, business or project.

Financial Planning and Analysis (FP&A) 130

Financial Planning and Analysis (FP&A) Corporate Finance Communication Forecasting 130

CFO Leadership

OCTOBER 18, 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. With a large and diverse enough data set (e.g.

Accounting 52

Accounting Finance Auditing IFRS 52

CFO Talks

OCTOBER 15, 2024

Practical Applications of Predictive Analytics in Risk Management To get started with predictive analytics, you don’t need to be a data scientist. Financial Risk Forecasting Predictive models can analyse your company’s financial data—such as revenue patterns, cash flow, and expenses—to identify potential financial risks.

Risk Management 95

Risk Management Compliance Forecasting Credit Risk 95

The Charity CFO

JULY 13, 2022

Rather than evaluating nonprofits and issuing a rating, GuideStar’s mission is to make complete and accurate financial data on nonprofits as available as possible. They’ve done such a great job of accumulating financial data on nonprofits that Charity Navigator has partnered with them to share information.

Nonprofit 98

Nonprofit CFO Accounting Strategic Planning 98

Lime Light

OCTOBER 20, 2022

Organizations that are using NetSuite, however, can often find themselves resorting to manual and tedious methods when it comes to financial planning, forecasting revenue, and analyzing financial data.

Budgeting 52

Budgeting Analyzing Data Auditing Financial Data 52

PYMNTS

NOVEMBER 26, 2019

The regulator said the data it received from Citigroup was not acceptable, and the way the bank handled the reporting processes was not effective. Banks have to regularly report financial data to make sure they’re operating within the law, and to make sure they have buffers against market shifts in terms of risk and capital.

Auditing 54

Auditing Banking Financial Data Financial Reporting 54

PYMNTS

JUNE 1, 2017

The company announced Wednesday (May 31) that it is rolling out NICE Actimize ABC, an anti-bribery and anti-corruption solution that analyzes financial data to identify potential instances of bribery for accountants and auditors. “We In most enforcement actions, roughly 50 percent come out of whistleblowing.

Auditing 40

Auditing Financial Systems Analyzing Data Entertainment 40

Centage

MAY 8, 2023

Your role is critical and complex as you know and understand the financial operations of your organization inside and out – and are ultimately responsible. You are a master of your companyʼsʼ financial data – and there is so much of it to manage. Plan to work with them early in your board presentation development stage.

Nonprofit 98

Nonprofit Budgeting Finance CFO 98

Future CFO

JULY 14, 2024

The lack of uniform controls across these applications can result in inconsistent, non-conforming access, time-intensive and error-prone monitoring, increased threats, fraud, and audit deficiencies. Vitasoy group director for internal audit and risk management Terence Chow commented that it's more than just financial data.

SAP 52

SAP Auditing Finance CFO 52

PYMNTS

NOVEMBER 15, 2018

That same information is key to alternative and traditional lenders, which need this data to underwrite their financing. Being able to aggregate financial data across platforms and share it securely with the necessary players will be a big step in the transformation of business finance, said Chandi.

B2B 74

B2B Cash Flow Forecasting Corporate Finance Forecasting 74