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.

Finance 52

Finance Accounting Auditing IFRS 52

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

Future CFO

DECEMBER 20, 2023

The most commonly identified in Singapore, and globally, is training AI models to understand and interpret complex financial data accurately (41%). Trusting the outputs of AI (34%) and ensuring robust governance frameworks to stop the potential misuse of AI (34%), were also key concerns.

Auditing 52

Auditing Financial Data Accounting Technology 52

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

Future CFO

OCTOBER 25, 2023

In addition, machine learning tools can audit large amounts of financial data and identify malicious activity that may be indicative of money laundering. The advancement can also make use of tools that can monitor biometrics, typing patterns, typo errors which can lead to fraud alerts.

Leverage 52

Leverage Auditing Finance Financial Data 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

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

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) CFO Accounting Standards 52

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 Auditing 130

CFO Share

DECEMBER 13, 2023

We understand the importance of precise financial data. CFOshare’s team approach includes supervision and internal audits to reduce fraud risk. Accurate bookkeeping isn’t just a necessity—it’s the backbone of strategic decision-making. Relying on luck is not an option. Install checks-and-balances.

Auditing 52

Auditing Communication Leverage Accounting 52

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

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

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. This can be especially helpful if you don’t have a dedicated staff-person with the expertise level required.

Nonprofit 52

Nonprofit Communication Auditing GAAP 52

Future CFO

DECEMBER 17, 2023

Exceptions will trigger AI-driven, automated audits to ensure compliance. Predictive analytics for spend management will emerge Organisations today have access to a multitude of financial data, but they lack the resources to make sense of it easily and rapidly, Tim Lebel, Vice President and Head of Spend Products observed.

SAP 52

SAP Finance Budgeting Data Analysis 52

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

The Charity CFO

APRIL 1, 2024

QuickBooks provides an easy-to-use bookkeeping solution that puts all of your financial data in one place. All of your financial data lives securely in the cloud, which also means you can access it from anywhere with a secure connection.

Nonprofit 52

Nonprofit Accounting CFO Accounts Payable 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 76

Auditing Banking Financial Data Financial Reporting 76

Adam Kae

MAY 30, 2023

These software programs allow us to effortlessly capture and categorize expenses on the go, ensuring accurate reporting, easy reimbursement, and a hassle-free audit experience (be prepared not scared). By embracing financial automation, we gain access to real-time financial data, enabling us to make informed decisions swiftly.

Marketing 52

Marketing Invoicing CFO Reconciliations 52

Centage

SEPTEMBER 6, 2022

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 52

Securities Cash Flow Forecasting Budgeting Forecasting 52

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

The Charity CFO

APRIL 2, 2024

In addition, you need to make sure your financial data is accurate and readily available for donors, board members, and other stakeholders. Your nonprofit accounting partner will help ensure your monthly financial statements and reports are delivered on time.

Nonprofit 52

Nonprofit Accounting Accounting Firms CFO 52

Spreadym

JULY 10, 2023

Effective Communication and Collaboration: Foster effective communication and collaboration among departments involved in the close process, such as finance, accounting, internal audit, and operations. When selecting financial close software, consider your organization's specific needs, size, complexity, and integration requirements.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Reconciliations Accounts Payable General Ledger 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 GAAP 98

Future CFO

NOVEMBER 15, 2023

Ervina Waty : Here are some key changes that CFOs might need to put in place: Enhanced Data Governance and Quality Control CFOs should implement stronger data governance practices to ensure the accuracy, consistency, and integrity of financial data.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Leverage Communication Compliance 52

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

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

CS Lucas

MARCH 30, 2021

Unlimited: A treasury system that is designed to meet bespoke enterprise -wide security , audit and service level compliance. A treasury management system, like CS Lucas ensures the secure hosting of your company’s financial data in one place. Unlimited open transactions . 5 systems integrations . Team rooms .

Treasury 52

Treasury Forecasting Cash Management Compliance 52

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 CFO Finance 98

Jedox Finance

JULY 11, 2023

4 Due to the tight adoption timeline, with the first organizations having to report starting January 2024, organizations must pursue new systems, data-gathering processes, and controls necessary to comply with new reporting requirements.

Financial Planning and Analysis (FP&A) 52

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

Spreadym

SEPTEMBER 27, 2023

These KPIs could relate to financial performance, customer satisfaction, operational efficiency, and more. Data Integration: Gathering and integrating data from various sources within an organization is crucial for CPM. This data may include financial data, operational data, customer data, and more.

SAP 59

SAP Budgeting Forecasting Auditing 59

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

The Charity CFO

AUGUST 15, 2023

One key differentiator is that what is recorded following GAAP is what will show up on the audit and may not show up on the IRS tax form, Federal Form 990. Audits Nonprofits are not exempt from audits. In fact, many states require audits for larger organizations.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

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

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

APRIL 15, 2021

How to right-size analytics role for finance Finance leaders, according to Gartner, should pursue the following two primary actions to right size finance’s analytics portfolio and finance’s role in providing financial and performance data. Audit the form of analytics.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Investments Auditing 52

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 Budgeting 130