Persevering and Prospering in the Time of COVID-19: Accounts Payable
The accounts payable (AP) function has a significant effect on the bottom line, third only to sales and receivables. Now, many accounts payable teams have been caught short by the Coronavirus 2019 (COVID-19) pandemic, finding themselves unable to shift rapidly and securely to a remote payables workforce. Some businesses – whose workforce capabilities and processes […]
Management’s Reporting on the Control Environment During COVID-19: Extra Attention Is Required
Organizations across all jurisdictions and industries have been faced with the difficult task of drafting and submitting their financial statements to regulators and banks during the COVID-19 pandemic. This has led to unique challenges and logistics to ensure appropriate personnel are connected and able to perform their duties and, ultimately, report to regulatory bodies with […]
Suspicious Activity Reporting: Government Aid Programs in the Spotlight
Amid growing media coverage of fraud related to government loan programs and unemployment insurance claims, the Small Business Administration (SBA) issued an Information Notice (IN) on July 22 dealing specifically with the identification and reporting of suspicious activity related to the Economic Injury Disaster Loans (EIDL) Program. The IN is aimed at alerting depository institutions […]
Digesting SWIFT’s 2020 Customer Security Programme (CSP) and COVID Guidance – and What the Changes Mean to Your Organization
In response to the current business climate produced by the COVID-19 pandemic, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) recently issued guidance to ease the strain on customers as they work to implement its updated Customer Security Programme (CSP) and Customer Security Controls Framework (CSCF). With a network that links more than 11,000 financial […]
Flash Report: European Court of Justice Invalidates the EU-U.S. Privacy Shield Framework
In a landmark ruling with sweeping implications for global companies, on Thursday, July 16 the Court of Justice of the European Union (CJEU) ruled, in essence, that the personal data of EU citizens must be provided the same protections granted by GDPR, the European data privacy law, regardless of what jurisdiction the data is moved […]
Furlough Planning: An Art and a Science Supported by Technology and Sound Change Management
As many companies fight for survival in the current business environment, project teams may find themselves revising schedules to accommodate furloughs and abbreviated timelines. While this sounds like, and often is, a chaotic situation forced by an extraordinary event, business intelligence tools can bring rhyme and reason to the chaos, and alleviate much of the […]
