ThomsonReuters

DECEMBER 8, 2023

Ethical considerations in the human-AI partnership A successful human-AI partnership Because the accounting profession is traditionally compliance-focused, it is particularly prone to AI disruption. Further, AI enhances the accuracy of financial reporting by reducing the risk of human error. Compliance.

Accounting Firms 108

Accounting Firms Compliance Technology Marketability 108

Sun Acquisitions

MARCH 27, 2024

In this blog post, we will explore why sustainability and ESG are taking center stage in M&A and how they shape the future of corporate consolidation. Risk Mitigation: Companies are recognizing that overlooking ESG factors can pose significant risks. Comprehensive due diligence helps identify hidden risks and opportunities.

Marketability 59

Marketability Compliance 59

Internal Audit 360

JULY 20, 2022

GUEST BLOG: O ne of the challenges when it comes to so-called “cybersecurity risk” is in accepting and then applying the idea that cyber is not an “IT risk.” It’s a business risk. If we are to assess cyber-related business risk, we have to have the answer to that question. Advice for Auditors on Cyber-risk.

Compliance 98

Compliance Start-ups Technology 98

Audit Board

SEPTEMBER 7, 2023

What does “good” ESG governance and strategy look like, and how are companies integrating it with existing risk and compliance governance structures? Since ESG risk and responsibility span the organization, companies must find ways to improve collaboration and centralize governance. Who should own it?

Compliance 52

Compliance Start-ups Specific Risk Marketability 52

ThomsonReuters

APRIL 30, 2024

Auditors rely on data review to ensure the reliability and integrity of financial statements. Auditors can sample data effectively by using statistical techniques to stratify data based on risk factors. Automated data analysis tools detect anomalies, outliers, and red flags, allowing auditors to focus on high-risk areas.

Data Analysis 52

Data Analysis Technology Start-ups Compliance 52

Audit Board

JANUARY 2, 2023

My tradition for the past several years has been to embrace my first blog of the year as an opportunity to set out timely, issues-focused New Year’s resolutions for our profession. Our focus must be on the risks. . Below is a snapshot of the full array of risks identified in the survey. We must make the first move. .

Compliance 88

Compliance Technology 88

ThomsonReuters

JUNE 16, 2023

Is there a lack of efficient integration across systems and with many third-party applications? What are the risks of using outdated accounting software? However, it is critical that firms remain open to change as there are several risks associated with using outdated accounting software. Change is not easy.

Technology 98

Technology Start-ups Accounting Firms Compliance 98

ThomsonReuters

JUNE 28, 2023

Accounting firms have a burgeoning role to play in determining the integrity of their clients’ ESG data and providing guidance on ESG reporting procedures. This includes ESG audit support that verifies the effectiveness of controls, as well as activities that identify gaps, assess risks, and develop a recommended plan of action.

Accounting Firms 98

Accounting Firms Compliance Start-ups Technology 98

Sun Acquisitions

JULY 21, 2023

Due diligence plays a crucial role in evaluating a transaction’s potential risks and rewards, ensuring that both parties are well-informed and can make informed decisions. In this blog post, we will explore the role of due diligence in successful M&A transactions and why it should be a top priority for companies.

Marketability 52

Marketability Compliance 52

ThomsonReuters

MARCH 17, 2022

DOL Compliance Assistance Release No. The DOL has issued a compliance assistance release expressing “serious concerns” about the prudence of making cryptocurrency investments available to 401(k) plan participants and advising fiduciaries to use “extreme care” before they consider adding a cryptocurrency investment option.

Compliance 98

Compliance 98

ThomsonReuters

OCTOBER 24, 2023

Data consolidation challenges, complex calculations, and reporting requirements can turn the trek into a daunting ordeal fraught with time-consuming inefficiencies and greater risk of errors. based CFO Consultants, in a blog post. This data is often coming from a variety of sources, which can make it difficult to reconcile.

Compliance 52

Compliance Technology Finance 52

Audit Board

MAY 10, 2023

This article originally appeared on the ISACA Blog. In our roles on the information security team at AuditBoard, we have the privileged opportunity to work with some of the largest, most sophisticated compliance teams on the planet. To combat this, legacy compliance teams must reframe their processes.

Compliance 52

Compliance Start-ups Technology 52

ThomsonReuters

DECEMBER 19, 2023

From staying informed on ESG trends and regulations to identifying green tax breaks, more and more businesses are turning to accountants for ESG reporting and compliance. Blog For more information on claiming green tax credits, see our guide to environmental IRS forms. Risk mitigation. Compliance with evolving tax regulations.

Compliance 52

Compliance Finance Accounting Firms Marketability 52

ThomsonReuters

JULY 6, 2023

APIs can build things like simple interface functions into complex data-driven applications and let developers easily integrate two software programs. Tax provision software employs advanced algorithms and automation, minimizing the risk of errors and providing accurate calculations.

Compliance 92

Compliance 92

ThomsonReuters

MAY 27, 2022

The global, integrated nature of modern supply chains means that no region of the world is unaffected by these disruptions,” says Zoe Martinez, Thomson Reuters Global Trade Proposition Lead for Asia and Emerging Markets. Mitigating Supply Chain Risk: Best Practices. Stay current with trade regulations and compliance requirements.

Compliance 96

Compliance Technology Marketability 96

ThomsonReuters

MARCH 20, 2023

With ESG-related legislation and heightened investor interest, incorporating an ESG narrative is critical for businesses as they navigate the complexities and look to ensure compliance. Forward-looking firms are increasingly moving beyond compliance by telling a compelling ESG story that sets their firm apart from the competition.

Accounting Firms 59

Accounting Firms Compliance Start-ups Equity 59

ThomsonReuters

MARCH 19, 2024

But before we jump into how accountants can overcome the risks of generative AI, let’s take a look at the basics of this revolutionary technology. But what exactly are the risks? Clearly, this is an unacceptable risk for tax and accounting professionals.

Accounting Firms 52

Accounting Firms Compliance Technology 52

ThomsonReuters

FEBRUARY 24, 2023

Koltin, CEO of Koltin Consulting Group, explained, private equity firms perceive accounting firms as being low risk, high reward. How does integrated technology make firms attractive to buyers or venture capital? Integration is critical. Why is integrated tech important? How does your firm rank?

Accounting Firms 59

Accounting Firms Private Equity Firm Technology Equity 59

ThomsonReuters

JANUARY 12, 2023

Environment, Social and Governance (ESG) is a framework for evaluating risks and opportunities related to a company’s operational impact on the environmental, social issues, and governance factors. . Environmental risks include pollution of the air, water, or soil, as well as climate impact, carbon footprint, and energy use. .

Compliance 52

Compliance Technology Accounting Firms Equity 52

ThomsonReuters

JULY 25, 2023

Inflection points like these – where failing to respond presents a greater risk than acting – are ideal times to consider switching to an automated IDT system. Thomson Reuters: Are there risks with non-tax professionals determining tax? Thomson Reuters: Are there risks with having multiple billing or purchase systems?

Start-ups 93

Start-ups Technology Compliance Finance 93

ThomsonReuters

JUNE 9, 2023

In today’s rapidly changing business environment, firms need to stay on top of their audit compliance. In this blog post, we’ll provide some tips on how to ensure your firm is audit compliant and up to date with the latest industry changes. How do you ensure audit compliance? compatible.

Compliance 98

Compliance Technology 98

ThomsonReuters

MAY 27, 2022

But for those operating in a complex network of manufacturers, logistics partners, distributors, raw goods suppliers, and sales channels, remaining compliant carries tremendous burden and risk. Effect of the Russia-Ukraine conflict on supply chain compliance. Border regulations affecting supply chain compliance.

Compliance 93

Compliance eCommerce Start-ups Technology 93

ThomsonReuters

AUGUST 26, 2022

Using a risk-based approach grounded in comprehensive data, companies can better manage supply chains in an unpredictable world. Trade sanctions imposed on Russia and the recently enforced Uyghur Forced Labor Prevention Act have only increased uncertainty and geopolitical risks in already shaken supply chains in the post-pandemic environment.

Start-ups 97

Start-ups Data Analysis Compliance 97

ThomsonReuters

APRIL 22, 2021

The DOL’s Employee Benefits Security Administration (EBSA) has issued guidance identifying “best practices” to mitigate cybersecurity risks in the administration of ERISA-covered plans, along with advice on hiring retirement plan service providers and online security tips for retirement plan participants. Hiring Tips. Online Tips.

Compliance 92

Compliance 92

ThomsonReuters

FEBRUARY 3, 2022

Lacking a decryption key does not exempt a CSP from business associate status and obligations under HIPAA, because encryption protects the confidentiality of PHI but does not necessarily address the PHI’s integrity or availability. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Contributing Editors: EBIA Staff.

Compliance 59

Compliance 59

Reynolds Holding

OCTOBER 29, 2023

The Proposed Guidelines aim to improve the safety and soundness of covered institutions through governance and risk management following the bank failures this past spring. Content of Proposed Guidelines The Proposed Guidelines would set standards for corporate governance, risk management practices and board oversight.

Banking 40

Banking Compliance Technology Marketability 40

ThomsonReuters

JANUARY 12, 2023

Backed by integrated AI-enabled audit applications, data analytics software and smarter testing can help auditors save time and provide valuable insights to clients. This judgment involves things like identifying key audit risks and determining how to design audit procedures to respond adequately to those risks.

Accounting Firms 52

Accounting Firms Technology Compliance Start-ups 52

ThomsonReuters

MARCH 28, 2023

Compliance may not be the most glamorous task facing indirect tax (IDT) teams, but the rapid pace of change in global regulations and reporting requirements is turning the humble compliance function into a rapid-fire gauntlet of continuous challenges. In the next two years, more than a dozen countries (e.g.,

Compliance 59

Compliance Technology Marketability 59

ThomsonReuters

MARCH 20, 2024

The application determines which awards must be audited and prepares a compliance audit program containing the procedures that must be performed. At the end of the day, a cloud-based solution streamlines single audits by providing real-time updates, automating complex calculations, centralizing information, and embedding compliance measures.

Compliance 52

Compliance Accounting Firms 52

Reynolds Holding

APRIL 10, 2023

Yet few of them seem to have developed effective, integrated systems of internal control over their material or decision-useful sustainable business information.” According to the authors, “[i]nternal controls have value beyond compliance and external financial reporting.

Compliance 45

Compliance Going Concern Value Start-ups Finance 45

ThomsonReuters

AUGUST 5, 2022

The overall cost of integrating ONESOURCE Indirect Tax into Composite Co. Though the exact amount of time required for implementation is different for every organization, getting ONESOURCE Indirect Tax up and running is still a fairly time-consuming process, due to the complexity of systems integration and data transfers involved.

Technology 52

Technology Compliance Finance 52

ThomsonReuters

OCTOBER 12, 2023

expats, ensuring compliance with tax regulations, and maximizing tax savings for your clients. citizens to the IRS under the Foreign Account Tax Compliance Act (FATCA). citizens living abroad meet their tax obligations, minimize tax liabilities, and ensure compliance with both U.S. Blog Take a look at what defines U.S.

Compliance 75

Compliance Banking 75

ThomsonReuters

APRIL 21, 2024

Selecting the correct product classification codes and ensuring compliance with frequently changing and sometimes uncertain rules in one country can be complicated enough. It also boosts trade compliance and efficiency. And it can integrate with tax software platforms to create a seamless workflow for tax professionals.

Compliance 52

Compliance Technology 52

ThomsonReuters

JANUARY 30, 2023

As the burden of corporate tax compliance mounts, companies are increasingly turning to tax and accounting firms for help in complying with direct tax requirements. With proper workflow management in place, firms can reduce risk through clear processes and have a full audit trail in place.

Start-ups 59

Start-ups Compliance Accounting Firms Technology 59

ThomsonReuters

JUNE 29, 2023

While standard tax software offers some of these benefits, the most transformative results come as a result of the holistic integration of APIs. The post Unleash the power of APIs with an automation consultation appeared first on Tax & Accounting Blog Posts by Thomson Reuters. How do APIs help with automation?

Accounting Firms 98

Accounting Firms Technology Start-ups Compliance 98

ThomsonReuters

JANUARY 12, 2023

With a lack of universal guidance, crypto assets can easily be over or understated, making risks much higher. Manage crypto compliance. Capital gains and losses are the principal compliance impact for crypto clients, which means crypto events must be accurately accounted for. . Exclusive integration.

Accounting Firms 52

Accounting Firms Compliance Start-ups Technology 52

ThomsonReuters

JANUARY 12, 2023

The findings of an internal audit are used to ensure compliance with laws and regulations, make improvements to internal controls, and help management identify flaws in processes prior to a review by external auditors. . External auditors work outside of the company and independently evaluate financial records.

Technology 59

Technology Compliance Start-ups Accounting Firms 59