Posts Categorized: Compliance and Controls

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November 30, 2015
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Content We Love – CFO Metric of the Month

It isn’t just us at Trintech who have been stressing the importance of corporate governance across the office of finance. This November, CFO.com has also expressed their views on the topic of risk management and governance in their Metric of the Month: Internal Audit Costs.  This article, which can be seen in full by following...

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November 18, 2015
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Baker’s Dozen Checklist for Selecting Close (R2R) Automation Software

Due to an increase in regulations and stakeholder demands, the pressure on the organization’s financial close and reporting processes is greater than ever before. These pressures often require organizations to disclose more information in their reports, and in a shorter time frame than ever before, dramatically increasing the risk of errors across their office of...

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November 9, 2015
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Top 10 Record to Report Red Flags

Often used as an early warning system, red flags can proactively assess the risk of re-work, financial restatements, and fraud throughout your financial process. The importance of these red flags is critical, as they foreshadow any risks prior to them negatively impacting the integrity of your financial close. These red flags often occur throughout your...

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January 7, 2015
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SAP Insider – Trintech EVP Talks Finance in the Cloud

In a recent SAP® Insider, Trintech EVP Robert Michlewicz discusses “Evolving for Efficiency: Financial Processes Gain Speed and Agility Through Cloud Deployment Options.” In the article, Michlewicz  explores issues faced by finance executives due to limited point solutions, globalization and rapidly changing regulatory requirements and the benefits of cloud-based solutions in resolving these issues. “On...

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July 24, 2014
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Do audit committees need access to systems of internal control?

Audit committees are a strong feature of the governance landscape. While all directors have a duty to act in the interests of the company the audit committee has a particular role, acting independently from the executive, to ensure that the interests of shareholders are properly protected in relation to financial reporting and internal control. It’s...

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April 16, 2014
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Mandatory Rotation of Auditors is In the Cards

Just when you thought that your auditors understood your business and could find their way around your systems, the audit team changes! Managing the audit relationship can be a frustrating experience. Obviously a balance has to be struck between audit familiarity and objectivity but it can be challenging to find a resolution that works for...

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February 28, 2014
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Audits Are Under the Microscope Again. Will You Pay the Price?

On October 23, 2013, the Public Company Accounting Oversight Board (PCAOB) issued a Staff Audit Practice Alert in the light of a significant number of audit deficiencies observed in the past three years related to audits of internal control over financial reporting (ICFR). In December 2012, the PCAOB found that in 15 percent of audit...

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February 20, 2014
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Does the SEC’s whistle-blower award scheme help or hinder?

The complex business of providing an adequate response to the burgeoning demands for risk management and compliance relies on a holistic approach involving, people processes and technology. With the increasing sophistication of financial governance solutions there is an understandable tendency to overlook some of the very real organizational challenges. One of the most controversial tools...

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February 12, 2014
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Disclosure of non-financial information puts pressure on corporate compliance

A draft report on the proposal for the disclosure of non-financial and diversity information by certain large companies and groups presented to the European Parliament committee on legal affairs (JURI), significantly raises the burden of disclosures about risks. The proposal suggests that with regard to human rights, anti-corruption and bribery, non-financial statements should include information...

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February 12, 2014
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Taking up the Slack in Financial Processes – Shared Services and the Cloud

In a highly competitive global environment, winning and retaining new business can be very costly.  In the face of downward pressure on prices, rising and volatile input costs, many organizations have cut costs to the bone.  As we navigate 2014, meeting the demands of this new era in competitiveness is characterized not so much by...

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