Archive - July 2020

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...

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...

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...

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...

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...

Healthcare Internal Audit During a Pandemic — Going From React to Rethink

The past 20 years have presented three distinct crises that have had profound worldwide implications: the terrorist attacks of 9/11, the financial crisis of 2008, and now the global pandemic that is COVID-19. Each of these crises was considered...

Automating Revenue — Healthcare Revenue Cycle Quick Wins Amid COVID-19

If you were to walk into the administrative office of a typical healthcare provider’s revenue cycle department and observe core functions, chances are you would observe similarities between 2020 and 2005: a system inundated with static processes...