CFO Leadership

OCTOBER 10, 2023

Using these AI tools in their current state in sensitive areas like finance and accounting raises security concerns. Therefore, it’s crucial to have robust data governance policies in place when implementing AI, ensuring that the software only has access to the necessary data and is monitored for any unusual or potentially harmful activity.

Accounting 95

Accounting Finance Auditing IFRS 95

PYMNTS

JULY 5, 2017

By using ‘out-of-the-box’ cloud infrastructure building blocks, you can align the C-level suite by bringing the data together that stakeholders need to make decisions,” said Born. The nature of financial reporting is to communicate facts aggregated using accounting rules. These facts can be audited back to the source.

Financial Data 52

Financial Data Financial Reporting Auditing CFO 52

PYMNTS

DECEMBER 8, 2019

Regulators may also need to replicate their approach to insurers and asset managers by focusing on “activities that have implications for financial stability,” rather than a sole focus on the size of the firm, the FSB added. The Fed is considering an audit of Big Tech firms’ compliance policies and governance structures.

Financial Data 52

Financial Data Concentration Auditing Leverage 52

CFO Share

JULY 16, 2024

They analyze market trends and economic data to predict future financial performance and guide strategic decision-making. They foster trust and secure funding by communicating the company’s financial health, investment opportunities, and risks. What Are the Key Responsibilities of a Controller?

Financial Planning and Analysis (FP&A) 98

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

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

Centage

SEPTEMBER 6, 2022

The familiarity of spreadsheets and their ease of use mean many employees are happy to keep working with them, even though they may create serious security risks. Below, we’ll analyze Excel spreadsheets security problems that come with spreadsheets and how implementing software can be a more effective solution.

Securities 52

Securities Cash Flow Forecasting Budgeting Forecasting 52

CFO Talks

SEPTEMBER 5, 2024

This interoperability ensures that financial data is consistently and accurately reflected across all departments, providing a unified view that supports better decision-making. Additionally, implementing data validation processes is crucial to maintaining the integrity of the data flowing through these interconnected systems.

IFRS 98

IFRS GAAP Compliance Reconciliations 98

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. Real-time access to data makes it easier for stakeholders to make timely and informed decisions based on the latest financial information.

Nonprofit 52

Nonprofit Technology Auditing Profit and Loss 52

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

CFO Talks

OCTOBER 15, 2024

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. Start by leveraging data from your accounting systems and working with your finance team to create simple forecasting models.

Risk Management 95

Risk Management Compliance Forecasting Credit Risk 95

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

PYMNTS

JULY 11, 2019

Public ledgers could expose financial data, allowing outsiders using artificial intelligence (AI) and pattern recognition to identify and name individuals making purchases. Can Facebook Be Trusted To Secure Financial Data? Or, you could try to implement some sort of certification program or an audit process.

Financial Data 49

Financial Data Securities Auditing Compliance 49

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

Beacon CFO Plus

NOVEMBER 30, 2023

Define Roles and Responsibilities: The CFO typically focuses on financial strategy, planning, and management, while the accounting firm handles compliance, audits, and financial reporting. They should have a clear process for sharing information and data. Keep in mind the things a fractional CFO will not do.

Accounting Firms 52

Accounting Firms CFO Accounting Prioritization 52

CFO Leadership

OCTOBER 18, 2023

Using these AI tools in their current state in sensitive areas like finance and accounting raises security concerns. Therefore, it’s crucial to have robust data governance policies in place when implementing AI, ensuring that the software only has access to the necessary data and is monitored for any unusual or potentially harmful activity.

Accounting 52

Accounting Finance Auditing IFRS 52

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

CFO News Room

DECEMBER 16, 2022

Job security is always a concern when choosing a career, but some fields are more recession-proof than others. After all, people will always need financial services, whether investing their money , taking out loans, or managing their taxes. Financial professionals need to be able to understand and interpret financial data.

Finance 130

Finance Budgeting Financial Analyst Compliance 130

CFO Plans

MAY 2, 2024

Regular meetings, clear reporting, and a dedicated point of contact will ensure that you stay informed and aligned with your financial goals. Evaluating Security and Compliance When it comes to financial data, security and compliance are non-negotiable.

Accounting 52

Accounting Problem Solving Communication Compliance 52

CS Lucas

MARCH 30, 2021

The Business Edition’s unlimited forecast lines, custom dashboards and team rooms help your treasury department work cohesively on one secure platform. 5 financial instruments . Unlimited: A treasury system that is designed to meet bespoke enterprise -wide security , audit and service level compliance.

Treasury 52

Treasury Forecasting Cash Management Compliance 52

CFO Plans

JULY 5, 2024

This type of software offers unparalleled flexibility and accessibility, allowing your team to access financial data from anywhere, at any time. It eliminates the constraints of traditional on-premise software and enables real-time financial management across all your operations. Learn how to secure your financial data.

Manufacturing 52

Manufacturing Accounting CFO Leverage 52

Spreadym

AUGUST 10, 2023

What is financial reporting software? Financial reporting software refers to specialized tools or applications designed to help organizations generate, manage, and present their financial data in a clear and organized manner. Exporting and Sharing: The ability to export reports in various formats (PDF, Excel, etc.)

Financial Reporting 52

Financial Reporting Financial Planning and Analysis (FP&A) Accounting Standards CFO 52

Centage

JULY 25, 2023

Otherwise, you risk sharing incorrect financial data. Consolidating your financial data across several general ledgers quickly becomes complicated when you use spreadsheets. Fortunately, Planning Maestro offers cloud budgeting and planning software that simplifies the financial consolidation process.

Budgeting 98

Budgeting Financial Planning and Analysis (FP&A) General Ledger Forecasting 98

Future CFO

OCTOBER 25, 2023

Financial institutions are investing in building robust solutions that provide optimum security to their customers, and machine learning is a critical component of this process. Mobile app developers are also actively integrating various algorithms and explicit programming to create fraud-free apps for financial institutions.

Leverage 52

Leverage Auditing Finance Financial Data 52

Global Finance

JULY 31, 2024

The average cost of a data breach in 2023 reached $9.5 million due to system complexity, security skills shortage, and noncompliance with regulations. Banks need to detect vulnerability, deploy patches and security controls more effectively and efficiently. million in the US (the highest in the world) and $5.1

Banking 64

Banking Leadership Securities Budgeting 64

PYMNTS

JANUARY 9, 2019

Separate reports from The Wall Street Journal ( WSJ ), published last April, also demonstrated the changing nature of corporate finance: While the Big Four accounting firms’ advisory and consulting revenue jumped by a combined 44 percent since 2012, revenue from straightforward auditing for the firms rose just 3 percent in that time.

Accounting 71

Accounting Corporate Finance Accounting Firms Financial Data 71

Centage

OCTOBER 3, 2022

Limited Visibility To conduct financial data analysis, your business needs to test various hypothetical scenarios. Data Security Vulnerabilities Excel spreadsheets may have more data security vulnerabilities than more advanced solutions. A single miscalculation could lead to significant monetary loss.

Forecasting 98

Forecasting Budgeting Data Analysis Financial Modeling 98

The Charity CFO

MAY 11, 2023

Properly evaluate each company and their credentials before letting go of your financial data. Security Concerns The financial data of an organization is incredibly sensitive. Ensure that your provider has proper security measures in place and ask to see these in action before proceeding.

Nonprofit 52

Nonprofit Communication Auditing Accounting 52

PYMNTS

JULY 27, 2017

Italy’s UniCredit has confirmed that the personal financial data of about 400,000 customers has been compromised. According to Finextra , the affected customers took out loans through the bank, and their personal data has been hijacked by unauthorized third parties.

Auditing 40

Auditing Financial Data Banking Securities 40

Planful

APRIL 8, 2019

This is possible through automated data integration with key systems, which bring all of the relevant financial data into a single system. Security and Audit Trails. Examine your EPM system’s audit trail capabilities. Audit trails can help track down the right people when an issue is identified.

Auditing 40

Auditing Finance Financial Data Accounting 40

Future CFO

FEBRUARY 22, 2024

One major benefit is that EPM can act as a central hub, consolidating financial and non-financial data from diverse sources into a single source of truth. For CFOs, it means having all compliance-related data readily available, organised, and accessible at their fingertips.

Financial Planning and Analysis (FP&A) 97

Financial Planning and Analysis (FP&A) Finance Compliance SAP 97

PYMNTS

JANUARY 16, 2020

The unique secrecy and security of bitcoin and other cryptocurrencies have led to their use by domestic terrorist groups like white supremacists, experts said at a hearing Wednesday for the U.S. House Financial Services Committee. In statements provided to Homeland Security, officials outline their thoughts on the matter.

Finance 52

Finance Auditing Securities Advertising 52

Planful

NOVEMBER 10, 2016

Data Integration Requirements in EPM Processes and Software. One of the most critical requirements of an EPM platform is the ability to integrate financial and non-financial data from multiple sources. An EPM platform needs to support the integration of a wide variety of data sources and types: Trial balance summaries.

General Ledger 40

General Ledger Budgeting Forecasting Financial Data 40

Future CFO

JUNE 3, 2024

Safeguarding data In the road to safeguard customer data and ensure compliance with data privacy regulations, Wood says organisations should implement best practices prioritising security, traceability, and compliance readiness.

Finance 40

Finance Compliance Auditing Leverage 40

Finvisage

DECEMBER 31, 2019

Accountancy firm PwC is reported to have been hired by the company to look at its accounts, which are audited by Grant Thornton. The accountancy watchdog, the Financial Reporting Council, said: “We are looking into this matter carefully and will give full consideration to further action as more facts become available.”

Reconciliations 52

Reconciliations Accounting Financial Analysis Construction 52

Jedox Finance

JULY 11, 2023

5 Other sustainability reporting initiatives in development include those of the International Sustainability Standards Board (ISSB), developed by the International Financial Reporting Standards (IFRS) Foundation. The final ESRS requirements are to be passed as law at the end of July 2023 and no later than the end of August 2023.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Profit and Loss Compliance 52

Future CFO

FEBRUARY 10, 2021

When you are unable to audit or do something like that while at home, you realize the value of pushing more technologies,” she said. “I said Michelle Quek , vice president, Business Operations and Finance at Ensign Info Security. Data trust or integrity is another rising challenge.

CFO 52

CFO Finance Auditing Treasury 52